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Louisiana Citizens, the state's insurer of last resort, made the decision during a board meeting under the leadership of Commissioner of Insurance Tim Temple, who also serves as chair of the ...
[4] [8] Through 2006, Citizens Insurance charged its customers the highest rate approved by the Florida Office of Insurance Regulation to avoid competing with private carriers. Insurance agents were prohibited from writing policies through Citizens if there was a private (not surplus lines) carrier that would write the risk. If a qualified ...
Insurance Commissioner Jim Donelon said the recovery program moved tens of thousands of people off the rolls of Louisiana Citizens and into policies held by private insurers, who on average raised ...
With private insurers dropping customers and raising rates, the state-backed Citizens Property Insurance Corp. saw its number of policies increase about 50% in 2022.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
11 property insurance companies in Louisiana became insolvent between July 2021 and September 2022, reflecting the deepening crisis in the state’s insurance market . Louisiana Citizens, the ...
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