Louisiana Attorney General Charles C. Foti Jr. has filed a lawsuit against property-casualty insurers in the state alleging they collaborated in a price-fixing scheme for repairs in the wake of Hurricane Katrina.
The suit filed Wednesday in New Orleans Civil District Court names six major insurers in the state as well as the companies that provided claims-processing software or offered advice or data collection services.
“This alleged scheme gave insurers an unjust advantage over policyholders, which they used before, during and after one of the greatest disasters this country has ever suffered, by reaping huge profits from the misfortunes of persons whom they pledged to protect from the risk of loss,” said Mr. Foti in a statement. “I believe this unjust advantage resulted in the unjust enrichment of themselves to the detriment of the state, policyholders and commerce in Louisiana.”
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