Live Insurance News

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

January 27, 2016January 26, 2016 S.Vagus

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…

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.…

Homeowners insurance rates in Texas are set to spike yet again

October 30, 2015October 28, 2015 Marc

Homeowners in Texas will see an increase in their insurance premiums next year Residents of Texas are seeing their homeowners insurance premiums grow. The state is home to the third highest homeowners insurance rates in the United States, with the average annual premium being $1,745. The Texas Department of Insurance notes that these premiums have grown by more than 26% between 2010 and 2014. Only Florida and Louisiana have higher homeowners insurance premiums, on average. For some homeowners, premiums are growing by a greater margin than what others are seeing.…

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…

Commissioner Donelon seeks extension on deadline for flood insurance claims

June 24, 2015June 23, 2015 S.Vagus

Commissioner petitions FEMA to extend insurance claims filing period Louisiana Insurance Commissioner Jim Donelon is petitioning the Federal Emergency Management Agency (FEMA) to extend the deadline for homeowners to submit flood insurance claims. The vast majority of homeowners in the state receive their flood protection from the National Flood Insurance Program and per the provisions of the program these people are required to submit proof of loss forms within 60 days after a flood. This may be a problem for homeowners, however, as many have reported needing more time to…