Live Insurance News

Homeowners insurance from Citizens may be getting pricier (again)

January 19, 2016January 17, 2016 H. Cutner

Louisiana residents with this coverage may soon be paying more for their coverage later in 2016. Residents of Louisiana who purchase the homeowners insurance of last resort in the state may soon find that their rates are going to be higher than they had been last year, if Citizens gains approval for an increase request that they have submitted. The increases wouldn’t go into effect until later this year, but property owners should prepare themselves. Should the homeowners insurance rate increases be approved, it will be residents of Terrebonne and…

Citizens Insurance in Louisiana dumps more policies

December 2, 2015December 1, 2015 Julie Campbell

Citizens Insurance Louisiana homeowners insurance property

The Insurance Commissioner from the state, Jim Donelon, has announced new participation in this effort. A recent announcement from Insurance Commissioner Jim Donelon has shown that three new insurers have added themselves to the efforts to reduce the number of policies carried by Citizens Insurance in Louisiana. Citizens Property Insurance Corp. has been working to shrink its size after becoming quite bloated. The state’s property insurance company of last resort had been swelling in size following Hurricane Katrina in 2005, and then hit its peak size following Hurricane Rita in…

Auto insurance fines create controversy in Louisiana

November 10, 2015November 8, 2015 Logan B.

Office of Motor Vehicles sends more than 1 million letters to drivers for lapsed insurance coverage The Louisiana Office of Motor Vehicles has sent out more than 1 million letters to drivers, seeking to collect some $400 million in fines associated with lapsed auto insurance coverage. These letters were sent to approximately 550,000 Louisiana drivers, many of whom have more than one vehicle, or were unable to insure their vehicles for a period of time. Some drivers are facing fines as high as $656 for driving without auto insurance coverage.…

Auto insurance fines spark controversy in Louisiana

October 28, 2015October 26, 2015 Marc

Louisiana Office of Motor Vehicles aims to collect on fines that are decades old Louisiana Insurance Commissioner Jim Donelon is taking aim at the state’s Office of Motor Vehicles. Last week, the agency issued notifications to consumers throughout the state, seeking to recoup millions of dollars in fines for auto insurance lapses. A significant portion of these fines are quite old, with some coming from violations dating back as far as 1986. Notices issued to consumers caused an outcry, which got the attention of the Louisiana Department of Insurance. State…

Homeowners insurance market in Louisiana has healed, says Commissioner

August 14, 2015August 13, 2015 Julie Campbell

Hurricane Katrina Flood Damage homeowners insurance

According to Jim Donelon, this marketplace has now finally rebounded from Hurricane Katrina. Since Hurricane Katrina and the massive devastation that it left behind, Louisiana has managed to come a very long way in revitalizing its tourism, real estate, and homeowners insurance markets, according to a recent statement from the state’s commissioner, Jim Donelon. The state’s “insurance market has rebounded and flourished” since that terrible time in its past. When Hurricane Katrina smashed through Louisiana in 2005, it left $25 billion in insured losses behind, following 725,000 claims in that…