Insurance companies operating in Louisiana will be charged at least $100 million to pay claims of two failed property insurers who went belly up in Hurricane Ida’s aftermath.
FILE - Debris and electrical wires are piled up in a front yard in Chauvin, La., on Sept. 27, 2021. In the aftermath of Hurricane Ida, Louisiana lawmakers said Wednesday, Dec. 1, 2021 they are seeing slow responses to damage claims, constant switch-ups of insurance adjusters assessing the destruction and low payment offers forcing people unnecessarily into litigation to get a fair deal.
“Our whole goal is to pay the people as timely and effectively as possible, but we’re in a bit of a transition period,” said John Wells, LIGA’s executive director. “We’re talking days and weeks, not months and years, to get people paid.” Hurricanes Laura, Delta and Zeta in 2020 cost insurers $10.6 billion. Hurricane Ida, which struck in August, is projected to cost insurers between $20 billion and $40 billion.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spotify Removes Content From Comedians Including Kevin Hart, John Mulaney Over Royalties DisputeSpotify has so far failed to reach a deal with Spoken Giants, a company seeking to win royalties for comedians as writers of their jokes.
Read more »
How To Buy Travel Insurance During The Omicron OutbreakTravel insurance can play a pivotal role in protecting a trip investment at any time of year. With the recent news of the Omicron variant, you likely have additional concerns about how your international trip will be affected—and what you can do about it. Can Omicron-related medical costs be covered? What if you get […]
Read more »
Trump media partner says it has lined up $1B in capital | AP NewsDonald Trump’s new social media company and its special purpose acquisition company partner say investors have pledged $1 billion. The former president, who has been banned from Twitter, plans to launch a messaging app called 'Truth Social.'
Read more »
Sir Antony Sher, Acclaimed Shakespearean Actor, Dead at 72Sir Antony Sher was ' a giant of the stage at the height of his genius.' RIP
Read more »
Michelle Keegan turned down Strictly due to lack of confidence after Mark failedEvery years there are rumours that ex-Coronation Street star Michelle will be snapped up as a contestant on Strictly. And now she has explained exactly why she turns down the offer to join the show every year.
Read more »
Horse racing-Medina Spirit's failed drug test caused by ointment - owner's attorneyA split sample test for Kentucky Derby winner Medina Spirit confirmed that the presence of a prohibited substance was from a topical ointment and not an injection, an attorney for the horse's owner said.
Read more »