Private Insurer to Assume Policies from Insurance Companies in Receivership bizneworleans.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizneworleans.com Daily Mail and Mail on Sunday newspapers.
An unnamed private insurer that is licensed in Louisiana plans to acquire the polices from Access Home Insurance Co. and State National Fire Insurance Co., which were placed into receivership in November.
BATON ROUGE, La. (AP) Insurance companies operating in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers who went belly up in Hurricane Ida’s aftermath.
Insurance companies operating in Louisiana will be charged at least $100 million to pay the claims of two failed property insurers who went belly up in Hurricane Ida’s aftermath. But the cost of dealing with the insolvent insurers ultimately will fall on the state after companies recoup the dollars through a series of tax credits.…