Hurricane Ida losses may hit $25 billion

Hurricane Ida losses may hit $25 billion

AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion, the extreme event modeling firm said in a statement issued Sept. 3, less than a week after the...
LCPIC’s board approves commercial rates

LCPIC’s board approves commercial rates

At its Sept. 9 meeting, the Louisiana Citizens Property Insurance Corp.’s (LCPIC) board of directors voted to approve sending the commercial property rate filing, an overall increase, to the Department of Insurance for approval and also to approve sending the second...
Donelon is shocked by the pushback from State Farm

Donelon is shocked by the pushback from State Farm

Louisiana Insurance Commissioner Jim Donelon said he was “shocked” when State Farm representatives told him during a conference call that the company opposed his Sept. 3 request in Bulletin 2021-07 that insurers voluntarily pay policyholders’ additional living...
LASIE’s Legislative Recap session reviews 2021 bills

LASIE’s Legislative Recap session reviews 2021 bills

The Louisiana Association of Self Insured Employers met July 14 in Baton Rouge for the association’s Legislative Recap of the 2021 Regular Session of the Louisiana Legislature. The Legislative Review session was led by LASIE Executive Director Gary Patureau and...
Legalized cannabis creates new insurable exposures

Legalized cannabis creates new insurable exposures

With cannabis use getting closer than ever before to becoming legal nationwide either medicinally or recreationally, Admiral Insurance Company’s Vice President of Cannabis Underwriting Keith Distel presented to attendees of the Texas Surplus Lines Association Mid-Year...