The people living in Louisiana are already struggling with devastating natural disasters each year and now insurance companies are fleeing the state. John Iadarola and Danielle Moodie break it down on The Damage Report.
Read more here:
More insurance companies pull out of Louisiana: ‘We are in a crisis’ – https://nypost.com/2023/01/17/more-insurance-companies-pull-out-of-louisiana-we-are-in-a-crisis/
„Thousands of folks in the South no longer have home insurance because companies are leaving the area after years of devastating storms.
The state of Louisiana is at the center of this insurance dilemma.
In the last two years, more than 20 companies have gone under or withdrawn from the state, forcing hundreds of thousands of families to pay higher premiums or go without coverage.
“We are certainly in a crisis,” said Louisiana Insurance Commissioner Jim Donelon.
Donelon says the crisis started in 2020 when Hurricane Laura hit Lake Charles. Soon after, the state was hit by storms Delta and Zeta, and then another major hurricane, Ida, in 2021.”
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