Louisiana Insurance Commissioner Jim Donolon on Wednesday, November 10, 2021 filed petitions in Baton Rouge's Judicial District Court to place two Louisiana domiciled insurance companies that suffered considerable losses from Hurricane Ida into rehabilitation. Those insurance companies are State National Fire Insurance Company, which is licensed in Louisiana and South Carolina, and Access Home Insurance Company, which is licensed in Louisiana and Texas. The combined amount of premium written in Louisiana is $20.5 million in direct premium and about 1percent of the state's total property market per state data.

Should rehabilitation not be successful, and liquidation of the companies become necessary, the Louisiana Insurance Guaranty Association (LIGA) will be triggered to provide its statutory protections to Louisiana policyholders of up to $500,000 in coverage and up to $10,000 per unearned premium claim. Policyholders in states where the company is also licensed would be covered by their respective guaranty association up to that state's statutory limitation of coverage. The South Carolina fund can be reached here, and the Texas fund can be reached here. Policyholders would have thirty days from the date of any liquidation order to secure other coverage. All policies will be cancelled per court order thirty days postliquidation.

The State of Louisiana has not liquidated a domestic property & casualty insurance carrier in over two decades, and is now facing the possibility of two liquidations. This is a new and ongoing development and will be updated as more information becomes available.