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Economy
Homeowners in Louisiana are in 'crisis' as more than 20 insurance companies go under or flee the state after string of devastating storms - forcing hundreds of thousands to pay higher premiums or go without coverage
2023-01-18
  • More than 20 insurance companies have left Louisiana in the past two years

  • State has suffered a series of hurricanes and flooding in recent years

  • Homeowners are faced with higher premiums or forced to go without coverage
Posted by:Skidmark

#10  ...are among the biggest piggy banks that politicians at the state level can tap.

...along with those limited alcohol and spirit licenses holders in supporting our state pols.
Posted by: Procopius2k   2023-01-18 16:50  

#9  'Sure this is somehow Bush Trump's fault.'
Posted by: Mullah Richard   2023-01-18 14:46  

#8  states have public [insurance] commissions

Yes, and they all make sure insurance companies are among the biggest piggy banks that politicians at the state level can tap.
Posted by: M. Murcek   2023-01-18 11:40  

#7  Sure this is somehow Bush's fault.
Posted by: swksvolFF   2023-01-18 11:35  

#6  ..which is why states have public commissions that can revoke doing business in the state if companies play that sort of game, unless the commissioned has been 'captured' with the aid of pols in the statehouse and the governor.
Posted by: Procopius2k   2023-01-18 11:21  

#5  They have teams actuaries whose job it is to figure out the risk of certain claims.

And teams of lawyers to write fine print to exclude paying on as many claims as possible.
Posted by: M. Murcek   2023-01-18 10:18  

#4  I used to work for an insurance company before I retired. Insurance companies are NOT charities. They have teams actuaries whose job it is to figure out the risk of certain claims. That is what they use to figure out the rates.
Posted by: Rambler in Virginia    2023-01-18 09:17  

#3  If you like your home insurance, you get to keep it.
Posted by: Super Hose   2023-01-18 09:14  

#2  Well when you get local judges to declare your home wasn't destroyed by the hurricane surge (because you were too cheap to get federal flood insurance) but by the wind, insurance companies have a tendency to close business.
Posted by: Procopius2k   2023-01-18 06:54  

#1  Wait for it.
The Government will step in and offer coverage.

The money collected, like Soc. Sec., will eventually end up in the general fund pot. Then gradually the Gov. will demand new homes be built a certain way, using Earth Friendly / Carbon Neutral certain materials.
Posted by: NN2N1   2023-01-18 06:31  

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