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Donelon: Post-Katrina home insurance market ‘brighter than ever’

Donelon: Post-Katrina home insurance market ‘brighter than ever’

Donelon: Post-Katrina home insurance market ‘brighter than ever’
News from NOLA.com:

Ten years after Hurricane Katrina, the market for property insurance in Louisiana is healthier than it ever was before the storm, with stable rates, more competition and better options for homeowners, Insurance Commissioner Jim Donelon said.

Donelon shared a report on the state of the insurance market at a summit held Tuesday morning (Aug. 11) at the University of New Orleans. The event gathered dozens of insurance agents, policy experts and other interested parties to reflect on the past decade.

  • Read the full Department of Insurance report.

Donelon said many feared the private insurance market would abandon New Orleans and the rest of the state after the 2005 storm. Instead, the state has gained insurers, kept rates stable and lowered the number of policyholders that fall under Louisiana Citizens Property Insurance Corp., the state-run insurer of last resort.

“The future is truly brighter than it ever has been in the past 70 years I’ve lived in the New Orleans area,” said Donelon, who owns a home in Metairie.

According to the report, Louisiana has attracted 22 property insurers that…………… continues on NOLA.com

… Read the full article


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