Lawmakers have brokered a 10% break on property insurance policies for coastal residents with the state-operated insurer in a bill that has been sent to Gov. Bobby Jindal, The Times-Picayune reports today. The Legislature passed Senate Bill 204 by Sen. Dan Morrish, R-Jennings, that could tamp down rate increases approved a few weeks ago by the Louisiana Citizens Property Insurance Corp. By law, Citizens must charge rates that are 10% higher than private insurers in the area. Morrish’s bill would waive that requirement in St. Mary, Calcasieu, Cameron, Vermilion, Iberia, St. Tammany, Orleans, Jefferson, St. Bernard, Plaquemines, Terrebonne and Lafourche parishes through Aug. 15, 2015. Read more about the bill here.
Coastal property owners considered for insurance break
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