Funding requests exceeded the $45 million that the state earmarked for the program during an extraordinary session on insurance held earlier this year. (Credit: Shutterstock.com)
The Insure Louisiana Incentive Program received applications from nine insurance companies, which collectively requested more than $62 million in grant money, according to the Louisiana Department of Insurance (LDI). The applicant's funding requests surpassed the $45 million allocated for the program, and state lawmakers are working on a bill to increase the program's funding.
The program, which is similar to a state initiative launched following hurricanes Katrina and Rita in 2005, offers matching grants to insurers to write new policies in Louisiana. The initiative aims to entice private insurers back into the state, while driving down the policy count for Louisiana Citizens Property Insurance Corp.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
