New Law Protects Louisiana Insurance Policy Holders in Wake of Katrina
"The Louisiana Department of Insurance moved Thursday to avert a crisis by enacting an emergency rule that prevents insurers from dropping policyholders waiting on hurricane repairs. Emergency Rule 23 requires companies to keep commercial and residential policies in effect at their existing rates until people are able to repair damage from Hurricanes Katrina and Rita. The rule came just days before the expiration of a set of consumer protections enacted immediately after Katrina that prevent insurance companies from raising rates and dropping policyholders."
Read the full article in the Times-Picayune here.