Louisiana’s insurance commissioner has canceled the update on homeowners’ policies

The Louisiana Department of Insurance will address voided homeowners insurance policies at a news conference Tuesday. It comes after insurance providers Lighthouse, Maison and Southern Fidelity warned their customers that their homeowner’s insurance policies would be cancelled. Two weeks ago, Insurance Commissioner Jim Donnellan said insurance agents working to underwrite Lighthouse Excalibur, Maison and Southern Fidelity policies have an additional 60 days to underwrite those policies while maintaining coverage for policyholders after the cancellation. Lighthouse Excalibur and Maison policies will be canceled on June 30. Southern Fidelity’s policies will be canceled on July 15, according to Donelon. With this change, Donelon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 to Aug. 28 and for Southern Fidelity policyholders from July 15 to September. 13, as long as agents take out policies with citizens by the 60-day deadline and it’s a risk that meets the citizen guidelines. Donelon said policyholders whose insurance policy is canceled will be covered by Citizens for claims that occur between the date of cancellation and the date an agent bonds a new policy with Citizens if that date is no later than 60 days after cancellation on the original policy. This extension does not affect policyholders who find a new policy with an insurer other than Citizens. Donelon will provide updates on these canceled policies as well as new laws that will improve protections for policyholders and strengthen the insurance market. Donnellon will be joined by Senator Kirk Talbot, chairman of the Senate Insurance Committee, and Representative Mike Huval, chairman of the House Insurance Committee. The press conference will start at 2:30 p.m.

The Louisiana Department of Insurance will address voided homeowners insurance policies at a news conference Tuesday.

It comes after insurance providers Lighthouse, Maison and Southern Fidelity warned their customers that their homeowner’s insurance policies would be cancelled.

Two weeks ago, Insurance Commissioner Jim Donnellan said insurance agents working to underwrite Lighthouse Excalibur, Maison and Southern Fidelity policies have an additional 60 days to underwrite those policies while maintaining coverage for policyholders after cancellations.

Lighthouse Excalibur and Maison policies will be canceled on June 30. Southern Fidelity’s policies will be canceled on July 15, according to Donelon.

With the change, Donnellon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 to Aug. 28 and for Southern Fidelity policyholders from July 15 to Sept. 13, as long as agents take out policies with Citizens up to 60- year age day term and this is a risk that meets the guidelines of citizens.

Donelon said policyholders whose insurance policy is canceled will be covered by Citizens for claims that occur between the date of their cancellation and the date their agent connects a new policy with Citizens, if that date is no later than 60 days after original policy cancellation.

This extension does not affect policyholders who find a new policy with an insurer other than Citizens.

Donelon will provide updates on these canceled policies as well as new laws that will improve policyholder protection and strengthen the insurance market.

Donelon will be joined by Senator Kirk Talbot, chairman of the Senate Insurance Committee, and
Representative Mike Huval, Chairman of the House Insurance Committee.

The press conference will start at 2:30 p.m

Leave a Comment

Your email address will not be published.