[StBernard] Insurance Law

[Westley Annis]

Westley,
 
The insurance commissioner suspended this requirement at the start of the
storm recovery "as a sign of cooperation".  Seems to me that the cooperation
has been between the commissioner and the industry and has left the policy
holders out in the  cold.
 
Craig
 
-----Original Message-----
I found this on one law firms web site:

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What specific legal rights do I have under state law?
The states of Louisiana, Mississippi and Alabama penalize insurance
companies for unfair or deceptive trade practices caused by an insurer's
improper handling of a claim. Claims handling requirements are a matter of
state law. Louisiana requires that all insurers must make a written offer to
settle a property damage claim within 30 days after receipt of a
"satisfactory proof of loss" for that claim. The insurer's failure to make
the written offer to settle, if found to be arbitrary, capricious or without
probable cause, entitles the insured to statutory penalties of up to
twenty-five percent damages on the amount due. A "satisfactory proof of
loss" has been defined under Louisiana law as occurring when the insurer has
adequate knowledge of the loss.
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I have searched the Insurance Commissioners web site and cannot find any
notice that this has been suspended.  I sent an email to the office asking
for a copy of the notice if it does exist.

If anyone has any other proof of suspended this law, please let me know.

Thanks,
Westley