Insurance Commissioner Jim Donelons request to fast-track funding for an incentive program was rebuffed by state lawmakers this week, leaving the effort in limbo until the next legislative session starts in April.
Donelon had urged lawmakers to allow him to use $15 million in leftover premium tax revenue that the insurance department collects to kickstart the Insure Louisiana Incentive Program. The effort was first launched in the years after Hurricane Katrina to lure property insurers to the state and get them off the rolls of Louisiana Citizens Property Insurance Co., the state-run insurer of last resort.
Donelon warned earlier this week that if Citizens doesnt begin to trim its swollen roster of policyholders which now stands at 12…
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