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October 12, 2004

Louisiana Homeowners High-risk Insurance Pool To See Nearly 27% Rate Hike

A 26.9% increase in homeowners insurance rates was approved by the Louisiana Insurance Rating Commission for Louisiana Citizens Property Insurance Corp., operator of the state's high-risk property insurance pool, a spokeswoman for the Louisiana Department of Insurance said.

The insurance department spokeswoman, Amy Whittington, said the increase would take effect Jan. 1, 2005. The rate revision already was on the agenda and wasn't in response to Hurricane Ivan recently impacting the state, she said.

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Posted by Tom Troceen