Hurricane insurance payout in Louisiana tops $104 million

US life insurance policy payout ruling

Judgment is with regards to class action suit regarding claims from Katrina. The Louisiana Citizens Property Insurance Corp. has been ordered to pay $104 million to over 18,500 of its hurricane insurance policyholders following a class action suit judgment against the insurer’s slow adjustment of the Katrina and Rita claims in 2005. The money was transferred to the plaintiffs’ attorney, Fred Herman, on Monday. According to Herman, the plaintiffs who are eligible to receive a portion of the payout should expect to receive their checks within the upcoming three to…

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