The Louisiana Department of Insurance did not have the authority to issue fines and a cease-and-desist order against a Texas law firm accused of massive fraud involving hurricane damage claims, an administrative judge ruled.
Exercising enhanced enforcement powers in a new state law, Louisiana’s insurance commissioner has issued a cease-and-desist order to a roofing contractor over an alleged attempt to defraud homeowners and their insurer.
Louisiana Citizens Property Insurance Corp. would suspend a 10% surcharge paid by customers in the state’s coastal zone and be shielded from bad-faith penalties if a newly amended bill is enacted into law.
Gov. Jeff Landry last week signed into law four insurance reform bills backed by Louisiana’s insurance commissioner that the governor said will help to drive down property insurance costs for the state’s homeowners.
Louisiana Insurance Commissioner Tim Temple has expressed gratitude to the state Legislature for passing a package of insurance reform bills he said would make the state’s insurance market more stable and competitive.
Business groups and Louisiana’s insurance commissioner are supporting multiple measures under consideration in the state Legislature aimed at curbing excessive regulations and improving Louisiana’s civil litigation climate.
A Louisiana State Police unit has opened a criminal investigation against Houston-based law firm McClenny, Moseley & Associates for alleged property insurance fraud practices in the state over the past three years.
Public hearings on the proposed sale of the nonprofit health insurer Blue Cross and Blue Shield of Louisiana to for-profit Elevance Health have been sidelined for now, though the parties hope to refile the proposal sometime in the future.
Louisiana’s insurance commissioner-elect, Republican Tim Temple, says he will not seek any additional funding for the Insure Louisiana Incentive Program, which offers matching funds to new and current property insurers to expand coverage in the state’s coastal areas.
The regular Louisiana legislative session that ended June 8 “worked out in a very positive way” for insurance policyholders now bracing for the start of another hurricane season, the state’s insurance commissioner said last week.
Louisiana’s insurance commissioner has fined a Houston law firm and its partners $2 million for engaging in actions that Donelon said amounted to insurance fraud and unfair business practices involving more than 850 homeowners and policyholders.
Nine insurers have applied for more than $60 million as part of Louisiana’s matching-fund program to expand the number of property insurance policies they write in the state, the Louisiana Department of Insurance said last week.
The Louisiana Department of Insurance has issued a cease-and-desist order against a Houston law firm that the department says has engaged in a campaign of fraud against hundreds of Louisiana policyholders and insurance companies.
A Houston-based law firm that has filed thousands of property insurance lawsuits in Louisiana has engaged in a pattern of questionable legal practices that demand judicial sanction, a motion filed by an insurer in federal court in Louisiana says.
A Florida-based property insurer with about 36,000 policies in Louisiana is pulling out of the state, raising concerns about the ability of the Louisiana insurance market to absorb the blow.
Louisiana Citizens, the state’s property insurer of last resort, is seeking a 63% increase in residential insurance premium rates beginning Jan. 1, 2023, to deal with the fallout from the past two hurricane seasons.
Out-of-state plaintiffs’ attorneys and insurance claims investigators are descending on Louisiana in hopes of reaping financial rewards from residential damage resulting from four storms that slammed the state during the last two hurricane seasons.
A property insurance company with an estimated 10,700 policyholders in Louisiana is being liquidated after being declared insolvent by Florida regulators, putting more financial pressures on the state’s insurance industry at the height of hurricane season.
A package of reforms passed by the state Legislature should help property insurers in Louisiana to stay afloat during future hurricane seasons and provide greater peace of mind to policyholders, the state’s insurance commissioner said.
A Baton Rouge judge granted the Louisiana insurance commissioner’s motion to liquidate Lighthouse Property Insurance Co. late last month, marking the fourth insurer insolvency in the state in the wake of the 2020 and 2021 hurricane seasons.
