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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Louisiana’s Citizens Insurance group files emergency application seeking the aid of the U.S. Supreme Court

Louisiana’s Citizens Property Insurance Corporation, a state-run insurance group that accounts for the majority of the state’s insurance policies, has filed an emergency application for stay to the U.S. Supreme Court. The insurer is looking to bar further seizures from a 2009 class-action case that saw more than $90 million returned to consumers. The stay application, which was filed on Monday of this week, argues that the Louisiana Supreme Court violated the insurer’s right of due process by prohibiting the organization from mounting an appropriate defense during the litigation. The…

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