Donelon: Claims of insurance crisis in Louisiana true
Published 4:36 am Wednesday, November 23, 2022
- Louisiana Insurance Commissioner Jim Donelon speaks during the American Press Insurance Claim Town Hall on July 29, 2021, at Eastwood United Pentecostal Church. (Rick Hickman / American Press)
Since the double-punch of Hurricanes Laura and Delta in 2020, 11 residential property insurance companies doing business in Louisiana have been declared financially insolvent and 12 can longer conduct business in the state.
Combined, the 11 insolvent insurers held 184,000 policies.
To cover the outstanding claims of the insolvent insurers, the state-chartered Louisiana Insurance Guaranty Association borrowed $600 million state-approved do…
Read the full article at: https://www.americanpress.com/2022/11/23/donelon-claims-of-insurance-crisis-in-louisiana-true/