The trade and mainstream press will soon be filled with articles commenting on the five-year anniversary of Hurricane Katrina—the largest insurance event in history and certainly one of the deadliest. Rather than look at the accumulated statistics, I thought it would be interesting to ask the question, “Have the Atlantic and Gulf Coast state insurance markets prepared for the next big hurricane?”

The Hanover Insurance Group and Louisiana regulators have reached an agreement for the insurer to withdraw two of its companies doing business in the state, but continue coverage through a new partnership.

A request by State Farm Fire and Casualty to increase homeowners insurance rates by an average of 19.1% was rejected by Louisiana’s insurance commissioner.

West Virginia Insurance Commissioner Jane Cline was elected as the next president of the National Association of Insurance Commissioners.

Jane Cline

Cline, elected along with three others to the group’s executive …  Read →

As the federal government begins to weigh in on the effect of defective Chinese drywall on homes across the nation, a unique provision in Louisiana law is protecting homeowners in that state.

Louisiana homeowners will avoid an emergency assessment through a deal where Louisiana Citizens Property Insurance Corp. will pay $6 million toward a class action judgment.

Courtesy: FEMA

Earlier this year, a …  Read →