NU Online News Service, Jan. 18, 2:34 p.m. EST
Louisiana's last-resort insurer has filed an average nine percent rate increase request with the state's insurance department for personal lines risks, including homeowners, mobile homes, dwelling and tenant risks.
Richard Robertson, CEO of Louisiana Citizens Property Insurance Corp., said the state-run insurer is legally mandated to make a filing once a year. It does the filing by comparing market and actuarial insurance rates in each parish in the state, adding 10 percent, and then selecting whichever rate is the highest.
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