The move comes days after Gov. Rick Scott vetoed a bill that would have diverted state premium tax revenues to shore up the fund. Meanwhile, Fitch has reaffirmed the Cat Fund’s AA rating.
In addition to appealing to the U.S. Supreme Court, Louisiana Citizens Property Insurance Corp. has filed a temporary restraining order to prevent its bank from paying a $104.6 million judgment state courts say it owes.
We offer eight suggestions for state lawmakers who are looking for ideas on how they should (and shouldn’t) respond to insurance challenges posed by large natural disasters.
The bank for Louisiana Citizens Property Insurance Corp. must reveal to a group of policyholders where it holding the company’s money, as part of a $100 million judgment against the state-run insurer.
In an exclusive interview, Lousiana Insurance Commissioner Jim Donelon breaks the news that the state’s wind pool will have to give up its fight against a $100 million policyholder judgment.
Letter from Austin: Texas policyholders don’t like Ike
by Julie Drenner on March 21, 2012 · View Comments
Claims to the Texas Windstorm Insurance Association stemming from the September 2008 storm continue to pile up.
Private sector capital once again shows it is eager to take on catastrophe risks, with Louisiana’s three-year, $100 million Pelican Re Ltd. catastrophe bond offering.
Florida’s insurance system will be in better shape than it was last year, but the legislation passed during the just-completed 2012 session won’t fix deep underlying problems.
Florida’s Citizens Property Insurance Corp. names Florida’s financial regulation commissioner as its new president, while the Texas Windstorm Insurance Association has made its interim general manager permanent.
With just four days left in the session, the Florida Senate added a poison pill amendment to the House-passed bill that would limit surplus lines take-outs to customers who affirmatively opt-in to the program.
