Louisiana Insurance Commissioner Tim Temple said a plan that tackles a property insurance crisis is moving forward after legislators approved four bills, including one eliminating rules largely prohibiting carriers from dropping policyholders who stayed with them at least three years.
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Louisiana Department of Insurance Approves January 2023 Rate Increase for Citizens
Louisiana Citizens’ request for a 63% rate increase on its residential property insurance policies beginning January 1 was approved by the Louisiana Department of Insurance. Citizens’ current policyholders will not be affected by the rate increase until they renew their policy after that date. Louisiana law requires Citizens to charge at least 10% more than… Continue reading Louisiana Department of Insurance Approves January 2023 Rate Increase for Citizens