Louisiana property coverage crisis Archives

Many families in Louisiana are reaching home insurance desperation

April 10, 2024April 9, 2024 Logan B.

The state has reached a crisis point in its property coverage market with prices headed steadily skyward. Families affected by the hurricanes that have hit the state in many years have already been facing rapidly climbing home insurance rates, but at the same time, they’re also battling with insurers to pay for the costs they’ve paid to make their homes livable again. Insurers in the state have gone bankrupt, leaving policyholders floundering While settlements from some home insurance companies are protected through the state-backed guaranty association, the process can take…

Louisiana Insurance Commissioner Jim Donelon won’t seek a 5th term

March 17, 2023March 15, 2023 G. Turner

In the midst of a property coverage crisis, he has stated that he won’t be running again. While Louisiana continues to scramble to keep on top of a property coverage crisis, Insurance Commissioner Jim Donelon has announced that he does not intend to seek re-election to a fifth term in the fall. This announcement is likely to generate greater interest in what will already be a heated race. The unexpected announcement arrived in the midst of Donelon’s efforts to keep Louisiana out of a potential property insurance market collapse. Since…