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Jun22
Louisiana House Reject Alleviation Of Insurance Hikes
A Senate-backed plan to alleviate some insurance hikes in Louisiana was rejected by that states House of Representatives claiming, “the money would be better set aside for potential emergencies” according to insurancejournal.com.

A spending bill, House Bill 1208, was amended by the Senate to put aside “$50 million of a $150 million state emergency response fund pushed by Gov. Kathleen Blanco to help shore up the state-run insurer of last resort, Louisiana Citizens Property Insurance Corp. The dollars would only be used for Citizens if money is left in the fund after this hurricane season.”

The objections to the bill included the reasoning that “Louisiana needs to get through an entire budget year with the full emergency fund, not just for hurricanes, but also in case of tornadoes, ice storms or other emergencies in Louisiana.”

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