Louisiana Property Insurance Crisis
Eleven Insurers Have Become Insolvent.
As the epicenter of climate disasters, hurricane-battered Louisiana is in the middle of a property insurance crisis. The destruction of Hurricanes Delta, Ida, Laura and Zeta have pushed several insurance providers to the point of insolvency, costing billions of dollars in damages and paid losses.
A report from the Legislative Auditor's Office said 11 insurers have been declared insolvent between July 2021 and September 2022, and an article from The Advocate/The Times-Picayune said an additional 12 have withdrawn from the state since 2020.
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Founded in 1992, C100 serves as Louisiana’s business roundtable and an advocate for economic development, engaging business leaders in state public policy issues to advance business and industry growth in ways that improve the economy and quality of life across Louisiana. Its membership includes senior executives of leading private and public companies and university presidents.
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