Property Casualty 360 posted a story by the Associated Press, describing the continuing saga of Louisiana Citizens Property Insurance Corporations’ Hurricane Rita and Katrina claims.
Policyholders were awarded more than $100 million in damages because Citizens did not begin adjusting policyholder claims within 30 days of the loss events, as required by Louisiana law. Policyholder attorneys started the seizure process, but a state District judge entered an order staying the matter until a hearing on February 8, 2012. According to Citizens chief executive Richard Robertson, Citizens intends to attempt an appeal to the United States Supreme Court. You can read the full story here.