Louisiana Insurance Commissioner Hopes Coverage Crisis Has Stalled

Real Estate Insurance Policy Manual for Home and Property Protection

Photo: Getty Images

Louisiana Insurance Commissioner Jim Donelon says he hopes the cancellation crisis has stabilized for now

Donelon says Weston Insurance, the seventh company to withdraw from the state recently, left more than 10,000 policyholders with no insurance in the middle of hurricane season.

Louisiana Citizens, the state's insurer of last resort, had issued 95,000 policies as of Friday, at a rate of about 500 a day.

Donelon says he plans to try to attract new insurance companies to the state, which will be a bit easier if Louisiana doesn't get clobbered with another major hurricane this year.

Copyright © 2022 TTWN Media Networks Inc.

Sponsored Content

Sponsored Content