Complaints Lead to Probe of La. Insurers’ Hurricane Claims Handling
Lousiana Commissioner of Insurance Jim Donelon announced the Department of Insurance is set to begin market conduct examinations on two insurers, Allstate and St. Paul/Travelers.
Donelon said he ordered the exams in response to consumer complaints lodged with the department of how the companies handled homeowners insurance claims filed as a result of Hurricanes Katrina and Rita.
“Following an internal evaluation, a review of company complaint-to-market share ratio and other factors, the department will initially examine how these two homeowners insurers handled policyholder claims filed in the aftermath of Hurricanes Katrina and Rita,” Donelon said in the announcement.
Following the market conduct reviews of Allstate and St. Paul/Travelers, Commissioner Donelon said the department will then examine the Louisiana Citizens Property Insurance Corporation (Citizens). Citizens is the administrator of the FAIR and Coastal Plans, the state’s high risk homeowners insurance pools.
The number of companies under examination could increase, based on similar criteria, according to the DOI.
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- California Sees Two More Property Insurers Withdraw From Market
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting