Katrina and Rita Claimants to Receive $20 Million Settlement
Louisiana Citizens Property Insurance Corp. has agreed to a $20 million settlement, which ends a class action suit filed on behalf of 7,000-plus policyholders. The policyholders sued Louisiana Citizens for its slow response after Hurricane Katrina and Hurricane Rita, as this recent article in the Insurance Journal notes. Citizens is a state-sponsored nonprofit offering property insurance to homes and business that can’t secure private insurance. After the 2005 storms, claimants sued because of the tempo of