Special Report Collapsed: An insurance market in crisis BY MICHAEL FINCH II | Staff writer Michael Finch II Author email Jan 1, 2022 Jan 1, 2022 SMS Email Print Copy article link Save Collapsed: An insurance market in crisis Louisiana’s property insurance market is floundering. After a string of recent natural disasters, many insurers, swamped by claims, have either gone belly up or left the state. This collection of stories chronicles the fallout, and recent attempts to reshape the market.  Business BY MICHAEL FINCH II | Staff writer Apr 2, 2022 Failed insurance companies. Multi-billion dollar losses. Consumers on edge. Business Here are the Louisiana insurers that have gone broke or left the state amid deepening crisis BY MICHAEL FINCH II | Staff writer Sep 27, 2022 1 min to read Louisiana is in the middle of a property insurance crisis: As of this week, nine insurance companies that wrote homeowners policies in the state have gone belly-up since a series of hurricanes hit the state in 2020. +4 Business State program placed Louisiana’s riskiest policies with untested insurers; many then failed BY MICHAEL FINCH II and JOSEPH CRANNEY | Staff writers Oct 2, 2022 8 min to read Over the last decade and a half, more than 129,000 policyholders have been offloaded from Louisiana Citizens Property Insurance Corp., the state-run insurer of last resort. Through a program known as depopulation, some of the riskiest policies were placed with untested private insurers as the agency tried to reduce its exposure to future hurricane losses. Business Our Views: Insurance crisis offers Louisiana few good options STAFF EDITORIAL Oct 10, 2022 2 min to read The difficult 2020 and 2021 hurricane seasons are fading from memory, but it will take a long time for Louisiana to recover. It’s not just the blue roof tarps that still dot the landscape from Lake Charles to Lafourche. The most serious aftereffect is the disruption in the precarious property insurance market, which threatens to do lasting damage to home values in our communities. Business As thousands flock to Louisiana's insurer of last resort, its rates are set to skyrocket By JOSEPH CRANNEY | Staff writer Oct 10, 2022 2 min to read Rate increases of 63% will kick in when homeowners renew their Citizens policies. Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 Louisianans know what it looks like when a homeowner is at the mercy of their insurance company: the blue-topped roofs, the drywall mounded on… Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 Facing a huge and growing number of unpaid claims left by failed insurance companies, a state-chartered bailout program that ensures policyhol… Business By JOSEPH CRANNEY and MICHAEL FINCH II | Staff writersUpdated Mar 14, 2023 Legislators touted new laws, but they don't take effect until 2026. Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 The signs of a spiraling property insurance crisis keep piling up. Business Another large insurer is leaving Louisiana. Here's what it means for policyholders. By JOSEPH CRANNEY | Staff writer Dec 7, 2022 2 min to read About 36,000 homeowners with United Property & Casualty will not have their coverage renewed in 2023. +2 Business Urgent action on insurance incentives rebuffed by Louisiana lawmakers BY MICHAEL FINCH II | Staff writer Dec 17, 2022 2 min to read Insurance Commissioner Jim Donelon’s request to fast-track funding for an incentive program was rebuffed by state lawmakers this week, leaving the effort in limbo until the next legislative session starts in April. +5 Business Insurance bailout fund crippled by lawsuits, claims as Louisiana policyholders wait for relief BY MICHAEL FINCH II | Staff writer Dec 27, 2022 6 min to read If it weren’t for a healthy savings account, Rosanna “Roshi” Mason might still be living in a cramped disaster relief trailer in her front yard with her husband and two kids. Business As insurers flee Louisiana or fold, Legislature could hold special session to launch incentives BY WILL SENTELL | Staff writer Jan 14, 2023 2 min to read The Legislature will likely hold a special session next month to address Louisiana's property insurance crisis, Senate President Page Cortez said Saturday. Business Bid for special session sparks skepticism from state leaders BY WILL SENTELL | Staff writer Jan 20, 2023 2 min to read State Insurance Commissioner Jim Donelon pleaded for a special session to tackle Louisiana's property insurance crisis but faced a flurry of skeptical questions Friday from state lawmakers. Business Gov. John Bel Edwards calls special session to address property insurance crisis BY WILL SENTELL | Staff writer Jan 22, 2023 2 min to read Gov. John Bel Edwards on Sunday called a special session of the Legislature to grapple with Louisiana's property insurance crisis. +4 Business Insurers cashed in on Louisiana’s short-lived incentive program. The results were mixed. BY MICHAEL FINCH II | Staff writer Jan 29, 2023 6 min to read In the grim years after Hurricane Katrina, Insurance Commissioner Jim Donelon was desperate to find companies willing to sell homeowners insurance in southern Louisiana. Tags Insurance Claims Insurance Commissioner Jim Donelon Louisiana Citizens Property Insurance Michael Finch II Author email More information Amid crisis, Insurance Commissioner Jim Donelon says he won't seek a fifth term SMS Email Print Copy article link Save
Business BY MICHAEL FINCH II | Staff writer Apr 2, 2022 Failed insurance companies. Multi-billion dollar losses. Consumers on edge.
Business Here are the Louisiana insurers that have gone broke or left the state amid deepening crisis BY MICHAEL FINCH II | Staff writer Sep 27, 2022 1 min to read Louisiana is in the middle of a property insurance crisis: As of this week, nine insurance companies that wrote homeowners policies in the state have gone belly-up since a series of hurricanes hit the state in 2020.
+4 Business State program placed Louisiana’s riskiest policies with untested insurers; many then failed BY MICHAEL FINCH II and JOSEPH CRANNEY | Staff writers Oct 2, 2022 8 min to read Over the last decade and a half, more than 129,000 policyholders have been offloaded from Louisiana Citizens Property Insurance Corp., the state-run insurer of last resort. Through a program known as depopulation, some of the riskiest policies were placed with untested private insurers as the agency tried to reduce its exposure to future hurricane losses.
Business Our Views: Insurance crisis offers Louisiana few good options STAFF EDITORIAL Oct 10, 2022 2 min to read The difficult 2020 and 2021 hurricane seasons are fading from memory, but it will take a long time for Louisiana to recover. It’s not just the blue roof tarps that still dot the landscape from Lake Charles to Lafourche. The most serious aftereffect is the disruption in the precarious property insurance market, which threatens to do lasting damage to home values in our communities.
Business As thousands flock to Louisiana's insurer of last resort, its rates are set to skyrocket By JOSEPH CRANNEY | Staff writer Oct 10, 2022 2 min to read Rate increases of 63% will kick in when homeowners renew their Citizens policies.
Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 Louisianans know what it looks like when a homeowner is at the mercy of their insurance company: the blue-topped roofs, the drywall mounded on…
Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 Facing a huge and growing number of unpaid claims left by failed insurance companies, a state-chartered bailout program that ensures policyhol…
Business By JOSEPH CRANNEY and MICHAEL FINCH II | Staff writersUpdated Mar 14, 2023 Legislators touted new laws, but they don't take effect until 2026.
Business BY MICHAEL FINCH II | Staff writer Updated Mar 14, 2023 The signs of a spiraling property insurance crisis keep piling up.
Business Another large insurer is leaving Louisiana. Here's what it means for policyholders. By JOSEPH CRANNEY | Staff writer Dec 7, 2022 2 min to read About 36,000 homeowners with United Property & Casualty will not have their coverage renewed in 2023.
+2 Business Urgent action on insurance incentives rebuffed by Louisiana lawmakers BY MICHAEL FINCH II | Staff writer Dec 17, 2022 2 min to read Insurance Commissioner Jim Donelon’s request to fast-track funding for an incentive program was rebuffed by state lawmakers this week, leaving the effort in limbo until the next legislative session starts in April.
+5 Business Insurance bailout fund crippled by lawsuits, claims as Louisiana policyholders wait for relief BY MICHAEL FINCH II | Staff writer Dec 27, 2022 6 min to read If it weren’t for a healthy savings account, Rosanna “Roshi” Mason might still be living in a cramped disaster relief trailer in her front yard with her husband and two kids.
Business As insurers flee Louisiana or fold, Legislature could hold special session to launch incentives BY WILL SENTELL | Staff writer Jan 14, 2023 2 min to read The Legislature will likely hold a special session next month to address Louisiana's property insurance crisis, Senate President Page Cortez said Saturday.
Business Bid for special session sparks skepticism from state leaders BY WILL SENTELL | Staff writer Jan 20, 2023 2 min to read State Insurance Commissioner Jim Donelon pleaded for a special session to tackle Louisiana's property insurance crisis but faced a flurry of skeptical questions Friday from state lawmakers.
Business Gov. John Bel Edwards calls special session to address property insurance crisis BY WILL SENTELL | Staff writer Jan 22, 2023 2 min to read Gov. John Bel Edwards on Sunday called a special session of the Legislature to grapple with Louisiana's property insurance crisis.
+4 Business Insurers cashed in on Louisiana’s short-lived incentive program. The results were mixed. BY MICHAEL FINCH II | Staff writer Jan 29, 2023 6 min to read In the grim years after Hurricane Katrina, Insurance Commissioner Jim Donelon was desperate to find companies willing to sell homeowners insurance in southern Louisiana.