Insurance meltdown leaves Louisiana homeowners without policies
After meteorologists warned of another active Atlantic
hurricane season this year, insurance companies have closed shop in Louisiana
and Florida, leaving in the lurch thousands of homeowners in those storm-prone
states.
In Louisiana, ferocious storms have already taken their toll
on the insurance market and made the state a “tough place to do business,”
according to Jeff Albright, head of the Independent Insurance Agents and
Brokers of Louisiana. Over the past two years, storms Laura, Delta and Zeta
cost insurers $10.6 billion, while Ida alone cost $30 billion, causing some
carriers to declare insolvency.
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