Live Insurance News

New Louisiana bill helps coastal parish Citizens insurance customers

June 7, 2012June 7, 2012 H. Cutner

Latest state insurance news provides a bit of relief to these policyholders. Residents along the coast of Louisiana who have policies with Citizens insurance – the insurer operated by the state – can now expect a 10 percent reduction on their premiums over the next three years due to recent legislation that has been sent to Governor Bobby Jindal by the state lawmakers. Only hours before the annual session ended on Monday, Senate Bill 204 was passed by the Legislature. It is hoped that Senator Dan Morrish (R-Jennings)’s bill will…

House committee in Louisiana approves electronic proof of auto insurance coverage

April 19, 2012April 30, 2013

Louisiana legislation approval gives the go ahead on digital proof of auto insurance coverage. The new legislation says that police must accept both the electronic and print card versions of the proof of car insurance. The House Bill 1130, which was sponsored by Rep. Greg Cromer (R-Slidell) received unanimous support from the Committee on Transportation, Highways and Public Works. This vote will send the bill along to the next stage of approval, which consists of a debate on the House floor. Chuck McMains, an insurance industry lobbyist, has stated that insurers are increasingly…

Farmers to raise homeowners insurance rates in Louisiana

April 13, 2012May 28, 2012 S.Vagus

Farmers Insurance Exchange, a reciprocal insurance branch of the Farmers Insurance Group, is looking to raise homeowner’s insurance rates in Louisiana. The insurer has approached state regulators seeking approval for rate increases that would affect thousands of residents throughout the country. The Louisiana Department of Insurance is currently investigating the rate proposal. Regulators have not yet issued a preliminary report on whether the rate proposal seems excessive or not. The state is currently determining how the potential rate increase will affect consumers and the overall economy of Louisiana. The insurer…

Louisiana Governor seeks insurance advisor to aid in privatization of state employee program

July 10, 2011 S.Vagus

The Louisiana Governor, Bobby Jindal, has been working to privatize the health insurance program for state employees. The decision comes from an apparent need for the state to have more control over the program that what is currently in place. The program will also benefit from being populated by a number of prestigious private insurance companies. Jindal’s efforts have been successful thus far, and he is now seeking an advisor from among the insurance industry to help manage the new program. Jindal is looking to fill one advisory spot in…

Louisiana insurance investigator killed raises safety concerns for industry

June 9, 2011May 15, 2013

Early this week, two insurance investigators in Louisiana were found shot to death whilst in the midst of a fraud investigation. The incident caused concern amongst state regulators who have been railing against the prevalence of fraud in Louisiana. Now, the state’s Insurance Commissioner, Jim Donelon, is considering whether his agents will begin carrying weapons as a means to defend themselves as the insurance landscape becomes more volatile. The state’s Insurance Department will conduct a review of safety procedures, but Donelon is likely to institute his measure at the end…