The most rewarding part: Attorneys have begun seizing over $100 million they won for homeowners who claimed Louisiana Citizens Property Insurance Corp. dragged its heels in adjusting hurricane claims in 2005. Attorney Fred Herman says the money includes a $92.8 million judgment for more than 18,500 Citizens policyholders—plus more than $11 million in judicial interest. The Louisiana Supreme Court ruled earlier this month the state’s property insurer of last resort had failed to start adjusting storm claims as required within 30 days. Each of the plaintiffs stands to get $5,000. Citizens CEO Richard Robertson says the company is attempting to get a state judge in Jefferson Parish to delay the seizures, adding Citizens has enough money in its accounts to pay the judgment.
A drop in the bucket: A state judge has sided with the Legislature in a dispute over Louisiana’s “rainy day” fund. At issue was whether lawmakers needed to refill the fund after using it two years ago to fill a budget gap. A former lawmaker and a local tea party leader argued the fund should be refilled because of a constitutional provision governing the rules of the fund. The Legislature and Gov. Bobby Jindal’s administration argued a more recent statute postponed any need to put money back into the fund. Judge Kay Bates agreed today with the state. If the fund had to be refilled, it could cause a gap of $150 million or more in the operating budget.
Making the sale: Air Liquide Large Industries has purchased an air separation unit from Georgia Gulf Corporation in Plaquemine. The ASU produces oxygen, nitrogen and argon, and is interconnected via pipeline with Air Liquide’s existing gas production facilities in Plaquemine, which are located within a mile of the newly acquired ASU. The ASU will join an existing system of 13 Air Liquide ASUs and utility production facilities serving more than 30 customers along the Mississippi River via Air Liquide’s pipeline network. Under agreements that went into effect this year, Air Liquide will sell oxygen and nitrogen from the pipeline network to Georgia Gulf’s Plaquemine chemical plant. A purchase price was not announced.
Safety first: Louisiana private sector work-related injuries and illnesses dropped to the lowest level in 2010 since the federal Occupational Safety & Health Administration revised its record-keeping rules in 2002, the Louisiana Workforce Commission reports. Louisiana ranked fourth in the nation for fewest work-related injuries, tied with New York and Texas, in the 2010 Survey of Occupational Injuries and Illnesses. The survey found non-fatal work-related injuries and illnesses in Louisiana dropped to 2.7 per 100 full-time workers, down from 2.8 the prior year—and remains below the national rate of 3.5.
