The Louisiana Insurance Commissioner overturned the policy extension

The Louisiana Insurance Commissioner announced that the cancellation of policies due to a failed Lighthouse Excalibur insurer has been extended until June 30. This comes after the Louisiana Department of Insurance provided additional reinsurance for these policyholders by the end of the month. Lighthouse policies were originally scheduled to be revoked on June 22. Insurance Commissioner Jim Donelon said insurance agents working on Lighthouse Excalibur, Maison and Southern Fidelity policies now have an additional 60 days to install those policies, while retaining coverage for policyholders after the cancellation. The Lighthouse Excalibur and Maison policies will be repealed on June 30. Southern Fidelity policies will be lifted on July 15, according to Donelon. Donelon said policyholders whose insurance policies have been canceled will be covered by citizens for claims arising between the date of their cancellation and the date their agent binds a new policy to Citizens, if that date is no later than 60 days after the cancellation of the original policy. This extension does not affect policyholders who find a new policy with an insurer other than Citizens. With this change, Donelon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 to August 28, and for Southern Fidelity policy holders from July 15 to September 13, as long as agents place policies with citizens up to 60 – the daily term and this is a risk that meets the guidelines of the citizens. The change was made to give more time to Louisiana insurance agents to help policyholders find coverage, according to Donelon. “Louisiana agents are working tirelessly to place policyholders with insurers following the announcement that three insurers are canceling policies in the coming weeks,” Donelon said in a statement. “This Citizens initiative provides much-needed relief and time for agents and policyholders to introduce new policies while maintaining coverage during hurricane season.

The Louisiana Insurance Commissioner announced that the cancellation of policies due to bankrupt insurer Lighthouse Excalibur has been extended until June 30.

This comes after the Louisiana Department of Insurance provided additional reinsurance for these policyholders by the end of the month.

The Lighthouse rules were originally scheduled to be repealed on June 22.

Insurance Commissioner Jim Donelon said insurance agents working on Lighthouse Excalibur, Maison and Southern Fidelity policies now have an additional 60 days to place those policies, while maintaining coverage for policyholders after cancellation.

The Lighthouse Excalibur and Maison policies will be repealed on June 30. Southern Fidelity policies will be lifted on July 15, according to Donelon.

Donelon said policyholders whose insurance policies have been canceled will be covered by citizens for claims arising between the date of their cancellation and the date their agent binds a new policy to Citizens, if that date is no later than 60 days after the cancellation of the original policy.

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

With this change, Donelon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 to August 28 and for Southern Fidelity policy holders from July 15 to September 13, as long as agents place Citizens policies up to 60 daily deadline and this is a risk that meets the guidelines of the citizens.

The change was made to give more time to insurance agents in Louisiana to help policyholders find coverage, according to Donelon.

“Louisiana agents are working tirelessly to place policyholders with insurers following the announcement that three insurers are canceling policies in the coming weeks,” Donelon said in a statement. “This Citizens initiative provides much-needed relief and time for agents and policyholders to introduce new policies while maintaining coverage during hurricane season.

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