Louisiana approves 63% rate increase for Citizens
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Louisiana approves 63% rate increase for Citizens

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The Louisiana Department of Insurance (LDI) has approved a 63% rate increase for Louisiana Citizens on its residential property insurance policies, effective January 1.

The hike will not affect Citizens’ current policyholders until they renew their policy after that date.

The rate increase was attributed to increased reinsurance costs, which resulted from the state-backed carrier providing cover to more households during this year’s hurricane...

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