[StBernard] Citizens' insurance policies to cost less
westley at da-parish.com
Tue Nov 13 22:14:06 EST 2007
Citizens' insurance policies to cost less
Posted by The Times-Picayune November 13, 2007 7:46PM
By Rebecca Mowbray
Starting today, 55,000 policyholders of Louisiana Citizens Property
Insurance Corp. will see decreases of as much as 10 percent on their bills
when their policies renew -- at least for now.
The relief comes because of a law passed this summer by the Legislature
removing a 10 percent markup on Citizens policies in the hurricane-affected
parishes of Orleans, Jefferson, St. Bernard, Plaquemines, St. Tammany,
Calcasieu, Cameron, Iberia, Lafourche, Terrebonne and Vermilion and any
other parishes where Citizens accounts for more than half the policies.
As a formality, the Louisiana Insurance Rating Commission is expected to
approve the measure for the state's third-largest residential insurer at its
monthly meeting today in Baton Rouge.
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