Live Insurance News

Homeowners insurance through Citizens in Louisiana is hanging in there

September 10, 2012April 30, 2013

Isaac claims have left the last resort insurer in pretty good shape. Though Hurricane Isaac certainly left its mark and was considered to be a “fairly significant event” for the homeowners insurance of last resort, Louisiana Citizens Property Insurance Corp., the insurer was still able to cover the claims that came in and had the resources that it needed ready and waiting. This insurance news was released by Richard Robertson, the insurer’s chief executive. Citizens is the homeowners insurance company that sells its policies to people within the state who…

Hurricane insurance in Louisiana takes center focus for Citizens

August 14, 2012April 30, 2013

The insurer of last result is concentrating on settling severe weather lawsuits. Citizens Property Insurance Corp. in Louisiana is working to negotiate the settlements of the last two hurricane insurance class action lawsuits that it has been handling regarding the claims from Katrina and Rita. The board has voted to authorize two settlement negotiator groups to work on establishing agreements. According to the CEO of Citizens, Richard Robertson, “The board really would like to get these cases resolved and move forward.” Any of the proposals that are made will be…

New Louisiana bill helps coastal parish Citizens insurance customers

June 7, 2012June 7, 2012 H. Cutner

Latest state insurance news provides a bit of relief to these policyholders. Residents along the coast of Louisiana who have policies with Citizens insurance – the insurer operated by the state – can now expect a 10 percent reduction on their premiums over the next three years due to recent legislation that has been sent to Governor Bobby Jindal by the state lawmakers. Only hours before the annual session ended on Monday, Senate Bill 204 was passed by the Legislature. It is hoped that Senator Dan Morrish (R-Jennings)’s bill will…

Louisiana’s Citizens Insurance group files emergency application seeking the aid of the U.S. Supreme Court

February 1, 2012 Marc

Louisiana’s Citizens Property Insurance Corporation, a state-run insurance group that accounts for the majority of the state’s insurance policies, has filed an emergency application for stay to the U.S. Supreme Court. The insurer is looking to bar further seizures from a 2009 class-action case that saw more than $90 million returned to consumers. The stay application, which was filed on Monday of this week, argues that the Louisiana Supreme Court violated the insurer’s right of due process by prohibiting the organization from mounting an appropriate defense during the litigation. The…

Louisiana insurance rebates remain unclaimed by policyholders eligible to claim the money

December 9, 2011 Marc

Louisiana Insurance Commissioner Jim Donelon says that $270 million in insurance rebates still remains unclaimed by policyholders this week. Late last month, Donelon issued a notice to policyholders explaining that they could be eligible for rebates. Thus far, however, no one has come forward looking to claim their share of the money. If the funds remain unclaimed, the state may seek to take control of the money. Such a move would only be possible if the state’s Legislature passes new laws regarding the matter. The money was recovered from property/casualty…