Louisiana Lawmakers Lower Costs for Citizens Customers Along Coast

June 7, 2012Email ThisPrintNewslettersTweetArticleComments

A last-minute provision added to legislation headed to the governor’s desk will give some relief to coastal property owners who get insurance through Louisiana’s state-run insurer of last resort.

The compromise language was devised by lawmakers seeking to lessen the blow of hefty rate increases on wind and hail policies for homeowners who are customers of the Louisiana Citizens Property Insurance Corp.

As sent to Gov. Bobby Jindal, the bill would lower insurance costs by 10 percent for Citizens customers in 12 parishes across south Louisiana.

Citizens is supposed to charge rates that are 10 percent higher than the private insurers in an area. The proposal backed by lawmakers on the final day of their just-ended regular session would scrap that requirement until August 2015 for the coastal parishes.

 

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Texas / South Central NewsTopics: legislation, louisiana Citizens Property Insurance Corp., RatesHave a hot lead? Email us at newsdesk

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Colorado Wildfire Compensation Compromise Moving Along

May 9, 2012Email ThisPrintNewslettersTweetArticleComments

A compromise proposal to allow Colorado wildfire victims to seek state compensation in excess of liability limits remains on track for approval in the Legislature.

A Senate committee voted 5-0 Monday in favor of a bill to retroactively add state-set wildfires to the list of state immunity exemptions. The change would give victims of the recent Lower North Fork Fire the chance to seek state compensation beyond a $600,000 liability cap.

The measure already cleared the House and appears likely to reach the desk of Gov. John Hickenlooper, who supports the compromise.

A separate bill pushed by House Republicans on fire liability was amended by the Senate committee, giving that measure a longer road to becoming law.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: Colorado wildfire, Liability, Lower North Fork Fire, wildfireHave a hot lead? Email us at newsdesk

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