Alternative New Media for the Gulf South
And of course such a profile had to include extensive quotes from Rick Trahant who needs no introduction here at Slabbed and Soren Gisleson whom Nowdy has had the opportunity to chat with via email. Louisiana Insurance Commish Jim Donelon throws a wet blanket on the Ike theory but then again Rick isn’t on Mr. … Continue reading “Becky Mowbray Profiles Recent Policyholder Court Wins in the Times Picayune”
What was scheduled as class action hearing on $35million Citizen’s settlement turned out to be a display of “no class” at all. Rebecca Mowbray has the story – and I can’t help but wonder what she was thinking yesterday as she was typed Judge orders lawyer to jail after fight breaks out in Citizen’s class … Continue reading ““no class” in Citizen’s hearing”
As the national economy plunged this fall, the timetable for the recovery of Louisiana’s beleaguered property insurance market may have slowed with it, Insurance Commissioner Jim Donelon said. Insurers are required to have a certain amount of capital on hand for every dollar of each homeowner’s policy that they write to make sure they have … Continue reading “Insurance – it’s a small world”
The Times Picayune is reporting the indictment of Terry Lisotta, former CEO of Louisiana’s state-operated insurance program. Politics and law have a special relationship in Louisiana; so, I’ve linked a few background stories from former Louisiana Insurance Commissioner Jim Brown’s site below the lead story for those who would like to know more. A state … Continue reading “Breaking News: Former CEO of Louisiana Citizens Insurance Indicted”
I ran across two articles in the Insurance Journal that provide some additional insight on non-coastal areas that would benefit from expanding the National Flood Insurance Program to cover wind damage as well as flooding. Given my position the need is inland as well as coastal, the stories on wind damage from Hurricane Gustav in … Continue reading “Significant inland wind damage from Gustav and Ike”
One more example today of State insurance offices too cozy with the industry to remember they exist to serve the taxpayer. The Insurance Journal has the story, Named storm deductibles – Louisiana Legislators want just 1 yearly. The chairman of Louisiana’s Senate Insurance Committee says he will ask companies to use the percentage deductible for … Continue reading “Louisiana Legislature decides to punt and gives up score”
Sop passed this on as he headed back outside – and 100 or so miles north of him, I’ve got a little more time and insurance on my mind. Actually, I’ve had reinsurance on my mind – wondering just what risk there was to transfer. According to Mowbray’s story, a lot of risk has transferred … Continue reading “Rebecca Mowbray – "Insurance may not cover as much under Gustav"”
Thanks to Mr CLS for the heads up to this Times Picayune story. BATON ROUGE — Insurance Commissioner Jim Donelon fined Allstate $250,000 Wednesday and ordered the state’s second-largest insurer to reinstate the wind and hail coverage of several hundred customers whose policies were dropped in disregard of a key consumer-protection law. It is the … Continue reading “Breaking: Allstate Fined $250,000, Ordered to Reinstate Policies”