Louisiana regulators approve 63% rate hike for last resort carrier
Before Hurricane Laura in 2020, Citizens’ policy count stood at around 35,000 but in the wake of last year’s Hurricane Ida the count has ballooned to more than 100,000
Citizens’ request was driven by the rising cost of reinsurance and the exodus of insurers from the local market following the series of hurricanes that struck the region in 2020 and 2021