La. Insurance Problems get worse

 

Just when you thought that insurance regulatory problems in the Department of Insurance could not get any worse in Louisiana, more problems, and even outright violations of the law, raise their ugly heads. Just this week, the insurance department was blasted by the Legislative Auditor in a 60 page scathing report alleging that the insurance department has allowed the troubled and under fire Citizens Property Insurance Company to operate in direct violation of state law.  Citizens was charging illegal rates, and the insurance department was accused of refusing to provide requested information. The State Auditor stated that there was complete lack of cooperation from the insurance department. In addition, the department continues to stonewall continuing requests by the auditor’s office by refusing to turn over internal e-mails and other information that clearly is in the purview of the legislative Auditor to receive. The insurance commissioner is accused of “violating state laws buy not making the documents available.” To read more on this brewing scandal, Click Here or Click Here.