Monday, June 19, 2006

Insurance Industry Controlled LIBA Pushes House To Vote Down Amendments For Homeowners Insurance Break

The Louisiana Association of Business and Industry (LABI) opposed House amendments that would have given you, Louisiana homeowners, a $50 million break on premiums after the hurricane season.

The Senate had added amendments to two spending bills that would have given Louisiana Citizens Insurance Corp. $50 million at the end of hurricane season to pay off bonds early. That would have offset the amount that Louisiana homeowners will be assessed to support the Citizens insurance program. Florida turned all of its $700 million surplus over to its state-operated insurance program, which eliminated the need for a homeowners' assessment. Lake Charles American Press, 06/19/2006

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