Citizens Insurance is still battling thousands of Hurricane Irma lawsuits

Citizens Insurance - Hurricane Irma - Home Destruction

The Florida insurer of last resort is still grappling with legal challenges from two years ago. Florida Governor Ron DeSantis and state lawmakers recently approved a Citizens Insurance overhaul plan. The overhaul redesigned the controversial “assignment of benefits” practice. It also added new restrictions regarding lawsuits that can be filed against insurance companies. The state-backed insurance company will still need to deal with its thousands of existing lawsuits. Citizens Insurance is still attempting to work its way through thousands of existing lawsuits. These were filed well before the overhaul was…

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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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Insurance payout judgment faces another delay

Louisiana Citizens Property Insurance Corp. policyholders have faced another block from a state of appeals court, which has halted their ability to collect over $100 million from the insurer’s failure to process the 2005 hurricane claims within a reasonable time frame. According to the chief executive officer at Citizens, Richard Robertson, a temporary order was issued by the 5th Circuit Court of Appeal, prohibiting the attorneys of the plaintiff from being able to perform a funds seizure from the insurance company’s accounts. There will be a later decision by the…

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