42K Louisiana home insurance policyholders were dropped last Friday

Home insurance policy - paper with pen

The State Insurance Commissioner is scrambling to address the growing coverage crisis. Last Friday, a staggering 42,000 Louisiana home insurance customers learned that their policies were not going to be renewing and that they had 60 days to find a new policy to ensure uninterrupted coverage. This figure only adds to an already growing number of policyholders dropped by their insurers. According to Louisiana Insurance Commissioner Jim Donelon, there have been six home insurance companies that have completely withdrawn from the state and there are another fifty that have ceased…

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Hurricane Ida moratorium on homeowners’ insurance cancellations comes to an end

Homeowners insurance

Insurers can now choose cancellation or non-renewal for coverage in southeast Louisiana. This week, homeowners’ insurance companies can choose to cancel or non-renew coverage for policyholders in southeast Louisiana, after Hurricane Ida protections expired on Sunday. The state insurance regulator chose not to extend the emergency protections put into place before Ida. Louisiana Insurance Commissioner Jim Donelon invoked Emergency Rule 47 on August 26. It stopped homeowners’ insurance companies from being able to cease or interrupt coverage, even in the case of premium non-payment. This protection applied to policyholders living…

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