Most Active Stories
- Fazendeville, the town razed to make way for the Chalmette National Monument
- Photo Gallery: 2015 New Orleans Comic Con
- Electric car company Tesla Motors expanding number of charging stations in Louisiana
- Le Show For The Week Of Jan. 11, 2015
- Tickets Now On Sale For Wait, Wait... Don't Tell Me! — March 12, 2015 At The Saenger Theatre
Fri September 14, 2012
Citizens pays $61 million to settle storm claims
A state-run insurance company of last resort has agreed to settle two remaining class-action lawsuits tied to claims handled after hurricanes Katrina and Rita for $61 million.
The board for the Louisiana Citizens Property Insurance Corp. voted unanimously Thursday to settle the long-running lawsuits. Policyholders sued the company over the slow handling of claims after the hurricanes struck in 2005.
The board also authorized company CEO Richard Robertson to put a cap of $4,500 per claim.
The settlement comes after Citizens paid a $104 million judgment in July that will benefit more than 18,500 policyholders who sued over slow adjustment claims after the hurricanes. Thursday's offer, which was voted on publicly after a 90-minute closed door session, is meant to cover plaintiffs who weren't initially covered in July's settlement.
Out to Lunch
Around the Nation
The Reading Life