[StBernard] La. Politics by John Maginnis: State to take over claims

[Westley Annis]

- "A representative of the insurance industry warns that a large
class-action suit by the state could drive insurers out of the market."

Trust me....a pure, unsustainable bluff.  These are the very same threats -
and bluffs - the insurance carriers made in Florida over the past two years
- and none of them have left the Sunshine state.

The bottom line - if there is a buck to be made in Louisiana, they won't
leave the state.  Besides, if any insurance carriers do leave, it leaves a
vacuum for new carriers to come in - that's the nature of business.  Sure,
premiums might go up, but guess what...they're going to go up anyway even
with the present insurance carriers.

I sometimes wonder if they really think we still believe their phony
threats?

John Scurich
appraiser


----- Original Message -----

> A representative of the insurance industry warns that a large 

> class-action suit by the state could drive insurers out of the market

>

> And that is what infuriates me to no end:  Them calling the shots thru

scare

> tactics!

>

>

>

>

> -----------------------------------------------------

> La. Politics by John Maginnis: State to take over claims

>

>

> Before awarding rebuilding grants or buying out houses damaged by the 

> hurricanes, the Louisiana Recovery Authority will require homeowners 

> to sign over their insurance claims to the state, which will have the 

> option of suing insurers for larger settlements. The idea is to 

> prevent the Road Home grants of up to $150,000 from being used as a 

> subsidy by insurance companies who could possibly low-ball settlement 

> offers. "It occurred to us that insurance companies might be using the 

> Road Home as an excuse to jack people around," says Walter Leger, a 

> Chalmette attorney who heads the LRA housing task force. A 

> representative of the insurance industry warns that a large 

> class-action suit by the state could drive insurers out of the market.

>