Homeowners Insurers to Pay 15% of 2004 Earnings to La. Citizens

February 21, 2006

  • February 22, 2006 at 9:30 am
    Just Watching with Amazement says:
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    These things are always amazing to me.
    First, they establish an unfunded insurance scheme and call it an insurance company.
    Second, they find to their apparent astonishment that the \”company\” cannot pay claims because their is no money.
    Third, they bill the solvent real insurance companies as much as they legally can for the shortage with an allowance that they they can pass the shortfall to the conscientious insurance-buying public when they buy insurance from the real insurance company.
    ….perhaps they knew they would not get away with a plan to above-board stick it straight to the public. They needed the subterfuge.
    I gotta ask:
    Who used this plan as a campaign issue?

  • February 27, 2006 at 11:09 am
    Gary Dupree says:
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    These low ball estimates of increases are missing the real increases being passed on to rental home policies big time. Of the 4 policies quoted by the citizens plans for 12/17/05, the lowest increase was 247% and the highest was 304%. I decided to be self insured since my last claim was 2001.

  • February 27, 2006 at 12:01 pm
    Hal says:
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    I suspect if you look at the difference in losses I\’d expect that in most cases the owner occupied dwellings were secured in some manner before the owner left.
    In the cases of renters I\’d bet the majority just abandoned the house when the left.
    The claims records will show differences. Tenants losses are likely to be more – they are here in North Texas.



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