Louisiana proposals require insurers stay and pay

[AlphaCentauri]

By Karen Jacobs

ATLANTA (Reuters) - Insurers in Louisiana would be required to uphold policies that were in effect before Hurricane Katrina and protect policyholders against any rise in premiums under draft proposals announced by State Commissioner J. Robert Wooley on Wednesday.

Speaking at an emergency industry summit in Atlanta, Wooley proposed to relax insurance statutes for policies covering seven Louisiana parishes hard-hit by Katrina. Wooley estimated the move would affect policyholders who accounted for one-fourth to a third of Louisiana's population.

Specifically, the draft proposals would "make null and void" any cancellation notices for insurance policies if they didn't take place prior to August 26, when Louisiana declared a state of emergency, and maintain the policies through at least September 25.

In addition, no insurance policy could be canceled or not renewed because of claims resulting from the hurricane, according to the proposals.

http://today.reuters.com/news/newsArticle.aspx?type=domesticNews&storyID=2005-09-07T184727Z_01_MCC767591_RTRIDST_0_USREPORT-INSURANCE-LOUISIANA-DC.XML&archived=False

[KingFlorez]

1. This is a good thing

Because some insurance companies might try to duck out of people's claims because this disaster is so big.

[merwin]

2. So do they protect them from raising the rates by $1000 per month?

[peacetalksforall]

3. My heavens, is this the first policy that the WH didn't confiscate and

manipulate for themselves and their friends?