99% of La. Insurers Extending Claims Period; Assistance Program Started

Reporting that more than 99 percent of homeowners insurers are voluntarily complying with his order to extend the prescriptive period for policyholders to file a lawsuit as result of a hurricane-related insurance claim, Louisiana Commissioner of Insurance Jim Donelon announced the launch of the Louisiana Department of Insurance’s Consumer Assistance Program (CAP).

CAP is a Web-based system where insurance companies writing business in Louisiana can input their underwriting information into a secure, online database. Consumers can access that information by parish on the Department’s Web site, www.ldi.state.la.us.

As of Aug. 14, 25 insurance companies have responded to the Department’s request for information for CAP. Several more companies have indicated they are in the process of adding their information to the CAP database.

To access the CAP database, go to the department’s Web site and click on the “Need Insurance?” link at the top of the home page. The one-page program allows consumers to select from a list of coverages and a list of parishes for which that coverage is needed. Clicking “select” opens the list of companies writing the specified line of insurance in that parish. Company information includes a phone number and a link to the company’s Web site. From that page, consumers can also link to a list of insurance agents (producers) appointed for that company.

Donelon says insurance companies will update their underwriting information as it changes. As more and more consumers use CAP, he expects more companies to sign on as well.

“I believe CAP will not only be a useful tool for consumers but also for companies wanting to let the public know where they are writing insurance,” Donelon said.

According to Donelon 366 homeowners insurance companies, (or 99.8 percent of all homeowners insurance business written in Louisiana) have complied with his order to extend the prescription period.

Source: Louisiana Department of Insurance