{"id":23060,"date":"2025-01-17T17:39:05","date_gmt":"2025-01-17T17:39:05","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=808790"},"modified":"2025-01-17T17:39:05","modified_gmt":"2025-01-17T17:39:05","slug":"louisiana-citizens-ends-assessment-on-property-policies-ahead-of-schedule","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2025\/01\/17\/louisiana-citizens-ends-assessment-on-property-policies-ahead-of-schedule\/","title":{"rendered":"Louisiana Citizens Ends Assessment on Property Policies Ahead of Schedule"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2024\/05\/Louisiana-capitol-580x386.jpeg\"><\/p>\n<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2024\/05\/Louisiana-capitol-scaled.jpeg\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/southcentral\/2025\/01\/17\/808790.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/southcentral\/2025\/01\/17\/808790.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p>The Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) Board of Directors voted last week to end the 1.36% assessment it makes on all residential and commercial property insurance policies in the state in April of this year. The assessment, which goes toward paying off bonds for debt Louisiana Citizens incurred from claims for hurricanes Katrina and Rita, was previously set to end in June 2026.<\/p>\n<p>\u201cWhen Commissioner Temple took office and became Chair of the Citizens Board of Directors, he encouraged our staff to find innovative ways for Louisiana Citizens to operate more efficiently and find savings for policyholders,\u201d said Louisiana Citizens CEO Richard Newberry.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"policyholder,property\" data-revive-companies data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>\u201cI appreciate Richard and his team\u2019s dedication to running a sound insurer of last resort for the people of Louisiana,\u201d said Commissioner Tim Temple. \u201cWhile the savings policyholders will see as a result of this change are not that significant when compared to the high premiums we all pay for property insurance, every little bit helps as we work to create a more available and affordable market in Louisiana.\u201d<\/p>\n<p>While the assessment is going away for all property insurance policyholders in the state this April, Louisiana Citizens policyholders will also begin receiving a waiver on the 10% Citizens surcharge when they begin a new policy or renew their existing policy after Jan. 1, 2025. The waiver will remain in effect for three years and was authored by Senate Insurance Committee Chairman Kirk Talbot as part of Commissioner Temple\u2019s package of property insurance reform legislation in 2024.<\/p>\n<p><em>Source: LDI<\/em><\/p>\n<p><em>Photo: Aerial closeup of the Louisiana State Capitol Building and welcome center in Baton Rouge<\/em><\/p>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/location\/louisiana\/\" class=\"btn btn-sm btn-primary tagtag\">Louisiana<\/a> <a href=\"https:\/\/www.insurancejournal.com\/property\/\" class=\"btn btn-sm btn-primary tagtag\">Property<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"808790\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>Interested in <em>Policyholder<\/em>?<\/h4>\n<p>Get automatic alerts for this topic.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments The Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) Board of Directors voted last week to end the 1.36% assessment it makes on all residential and commercial property insurance policies in the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":23061,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1270,1017,1,77],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2025\/01\/louisiana-citizens-ends-assessment-on-property-policies-ahead-of-schedule.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23060"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=23060"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/23061"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=23060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=23060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=23060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}