La. Insurance Czar Blasts Restored $93M Katrina Award

Law360, New York (December 20, 2011, 5:11 PM EST) -- Louisiana's insurance commissioner said Tuesday that he would ask the state's high court to review its reinstatement of a $92.8 million judgment against a state-chartered insurer for neglecting to adjust property owners' claims on time after Hurricane Katrina.

In a 4-3 reversal, the Louisiana Supreme Court ruled Friday that Louisiana Citizens Property Insurance Corp. — a so-called insurer of last resort — could be subjected to penalties for failing to initiate loss adjustments within 30 days of claims, even if policy holders did not show that...
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