Louisiana business interruption bill may change coverage due to COVID-19

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Legislators are reviewing the bill to decide if insurers should be forced to pay pandemic claims. Legislators in Louisiana are reviewing a business interruption insurance bill. It may require insurers with operations within the state to have to cover claims connected to the coronavirus pandemic. The legislature recently went into session following about 2 months of suspended work due to COVID-19. Both the House and the Senate will need to complete as much as they can by June 1, 2020. The delay they’ve already faced over the last two months…

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Louisiana recovers funds from homeowners insurance providers, as well as others

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State agency recovers $5.1 million in insurance claims throughout 2015, resolving consumer complaints The Louisiana Department of Insurance has announced that it has recovered some $5.1 million in insurance claims in 2015. Insurance Commissioner Jim Donelon notes that state regulators have been working with representatives from several insurance companies to resolve complaints associated with a wide range of coverage. The majority of the funds recovered by state regulators have been recovered from the property/casualty sector, as well as the health insurance sector. According to the Department of Insurance, more than…

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Louisiana employee health insurance coverage may become more expensive

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Insurance coverage for the state’s retirees and current employees may soon become more costly Louisiana’s employee health insurance program may be out of money by the end of the state’s budget year, according to Commissioner of Administration Kristy Nichols. Governor Bobby Jindal has proposed significant changes to the program in order to avoid its financial collapse, but these changes have been heavily criticized by many of the state’s lawmakers. If no action is taken on the matter, insurance coverage for the state’s employees could become significantly more expensive. Rates for…

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Health care reform in Louisiana is bleeding money

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The reserve fund in the state is rapidly depleting despite widespread changes made to correct it. Louisiana Governor Bobby Jindal’s administration has taken considerable action to alter, improve, and update the health care reform in the state when it comes to the insurance program for public school employees and state workers, but despite this fact, they will still be required to use $88 million from the reserve fund in order to cover the necessary costs for 2014. The Office of Group Benefits requires an additional estimated $7.4 million every month.…

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Health insurance rates going up in Louisiana

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Policies purchased through state’s exchange will have higher premiums beginning in 2015 Those that have purchased health insurance coverage through the Louisiana exchange could see their rates increase in the coming year. The state’s Department of Insurance has announced that approximately 60,000 people that have purchased coverage through the exchange will see rate increases in the double-digits in 2015. This expectation of higher rates comes after receiving proposals from insurance companies. Many insurers are looking to raise the rates for the coverage that they provide in order to better position…

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