Louisiana’s property insurer of last resort says Hurricane Isaac has resulted in over 13,000 claims and they expect more to come. Vice President and Chief Claims Officer of Louisiana Citizens Property Insurance Corp. Quin Netzel said Thursday most claims average …
Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens Property Insurance Corp., which would contribute to the greatest shift of policies to the private market since 2008. Citizens has …
The governing board of the state-backed Citizens Property Insurance Corp. on Friday approved $350 million in low-interest loans for private insurers to relieve Citizens of thousands of policies. Citizens has sought unsuccessfully for years to reduce its customer base and …
Florida’s state-backed homeowners insurer has reached into the private sector for its new president, selecting an experienced insurance executive and consultant. The Citizens Property Insurance Corp. board of governors yesterday unanimously selected Barry J. Gilway as president to lead the …
Citizens Property Insurance Corp. could face dire consequences if it fails to involve Florida lawmakers before deciding whether to approve a dramatic rate increase for new policyholders, the state-backed firm’s board chairman warned Thursday. The corporation’s Board of Governors is …
“The head has been cut off the sinkhole monster,” said Curtis Hutchens, an in-house attorney for Florida’s Citizen’s Property Insurance Corp. According to Hutchens, the new sinkhole statute (627.706) that went into effect on May 17, 2011 continues to evolve. …
The governing board for the state-backed Citizens Property Insurance Corp. at least temporarily backed off a proposal Thursday to begin charging rates for new business next year at rates higher than allowed by law. Although existing Citizens policyholders are protected …
The plaintiffs who won a $92.8 million judgment against Louisiana Citizens Property Insurance Corp. three years ago plan to seize the company’s cash. The move comes after a ruling late Tuesday in a Jefferson Parish state district court. The Advocate …
A bill that would allow high-priced, out-of-state companies often called surplus lines to remove homeowners’ insurance policies from Florida’s state-backed insurer faces an uncertain future with time running out in the 2012 session. Debate was pushed into Thursday with a …
Louisiana’s property insurer of last resort is offering nearly $103 million to settle disputes over its handling of claims after hurricanes Katrina and Rita more than six years ago. The governing board of the Louisiana Citizens Property Insurance Corp. agreed …