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Run Time: 23:28
Louisiana’s Donelon on Isaac, Citizens, Lawsuits and More
Despite taking a direct hit from Hurricane Isaac in late August, Louisiana probably won’t see a big change in the property/casualty insurance market as a result of that storm, according to state Insurance Commissioner Jim Donelon. Regulatory and legislative reforms put place since 2005 when Hurricanes Katrina and Rita devastated the state, have helped depopulate Louisiana’ insurer of last resort and stabilize its homeowners insurance market. To be sure there have been bumps in the road along the way. Here, Donelon discusses those obstacles, along with the positive developments and the many challenges that remain in the state’s property/casualty insurance market.