Citizens board to discuss rate increase
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The Louisiana Citizens Property Insurance Corp. board of directors will consider a rate increase at today’s board meeting.
Earlier this year, the state-backed insurer of last resort had proposed an increase of 18 percent statewide, but the board’s inability to field a quorum has delayed any action since August. The state’s new financial disclosure laws led to the resignation of seven members, but new members are expected to fill those vacancies.
The rate increase is expected to hit hardest in southeast Louisiana.
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