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After a July 31 meeting between Louisiana Commissioner of Insurance Jim Donelon, Governor Kathleen Blanco and Allstate President Thomas J. Wilson regarding Louisiana’s homeowners market and Allstate’s presence in Louisiana, Donelon said although the company indicated it will continue to operate in the state, more work is necessary regarding the impasse over wind and hail coverage in certain Louisiana parishes, the Louisiana Department of Insurance announced.
Allstate wants to discontinue offering such coverage in some parishes, a move that would affect about 30,000 citizens of the state. Donelon previously has said Allstate would be acting against state law if it proceeds with plans to drop the coverage.
“I’m glad that the president and top management of Allstate have confirmed that Allstate is not leaving the state,” Commissioner Jim Donelon said in LDI’s announcement.
“I am pleased that we had this meeting today with the top Allstate officials so I could hear from the horse’s mouth where they stand. We will use this as a basis to go forward in our work and decisions to solve the problem that we face, which is to ensure that our people across the state have coverage at an affordable price. It’s going to take a great deal of work, and all the resources that we can bring to bear to solve this problem,” Donelon continued.
“I look forward to working with the industry, the Legislature, the Governor and business leaders around the state to help us reach our goal,” Donelon said.
“However we proceed, we have to keep in mind the obligations imposed by our consumer protection laws. I made our position clear to Allstate that we will vigorously resist any effort to cancel the wind and hail portions of homeowner’s policies in violation of state law,” Donelon said.
Source: Louisiana Department of Insurance