Louisiana's insurer of last resort sheds more policies

11/23/2010 | PropertyCasualty360

Louisiana's Citizens Insurance has reduced its number of policies to about 119,000, compared with about 174,000 in 2005. The reductions are a move to limit the insurer's exposure to catastrophic events, officials said. "The reduction in market share of Citizens is a great indicator that the homeowners insurance market, as well as the commercial property insurance market, in Louisiana is rebounding from the severe hit we suffered as a result of hurricanes Katrina and Rita," said Insurance Commissioner Jim Donelon.

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