LDOI Continues Depopulation of Louisiana Citizens Property Insurance Corporation

With the latest round of annual depopulation completed, Louisiana Insurance Commissioner Jim Donelon has announced that the homeowners insurer of last resort, Louisiana Citizens Property Insurance Corporation, has moved an additional 10,890 homeowners policies into the private insurance market. This should decrease Citizens' market share from 5.3% at the end of 2010 to approximately 4.3%.

Access Home, Capitol Preferred, Centauri Specialty, Lighthouse and Occidental insurance companies all made successful bids to assume policies from Citizens. Since the Louisiana Department of Insurance began the Citizens Depopulation Program in 2008, more than 67,000 policies have been assumed by private insurers from Citizens. More information is available from the Louisiana Department of Insurance's website.
 

1 comment:

  1. I think the state should imposed changes for betterment of their policies when it comes to such kind of aspect. If it continues, it may cost them more than what expect to be.

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