The Louisiana Department of Insurance will address homeowners insurance policy cancellations in a news conference Tuesday. This comes after insurance providers Lighthouse, Maison, and Southern Fidelity alerted their customers that their homeowners’ insurance policies would be canceled. Two weeks ago Insurance Commissioner Jim Donelon said insurance agents working to place Lighthouse Excalibur, Maison and Southern Fidelity policies had an extra 60 days to place those policies while maintaining coverage for policyholders after cancellation.Lighthouse Excalibur and Maison policies will be canceled on June 30. Southern Fidelity policies will be canceled on July 15, according to Donelon.With this change, Donelon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 through Aug. 28, and for Southern Fidelity policyholders from July 15 through Sept. 13, as long as agents place policies with Citizens by the 60-day deadline and it is a risk that meets Citizens guidelines.Donelon said policyholders whose insurance policy is canceled will be covered by Citizens for claims occurring between their cancellation date and the date their agent binds a new policy with Citizens if that date is no later than 60 days following the original policy’s cancellation.This extension does not affect policyholders who find a new policy with an insurer other than Citizens.Donelon will provide an update on these canceled policies as well as new laws that will enhance protections for policyholders and strengthen the insurance market. Joining Donelon will be Senator Kirk Talbot, Chair of the Senate Insurance Committee, and Representative Mike Huval, Chair of the House Insurance Committee.The news conference will begin at 2:30 p.m.
The Louisiana Department of Insurance will address homeowners insurance policy cancellations in a news conference Tuesday.
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This comes after insurance providers Lighthouse, Maison, and Southern Fidelity alerted their customers that their homeowners’ insurance policies would be canceled.
Two weeks ago Insurance Commissioner Jim Donelon said insurance agents working to place Lighthouse Excalibur, Maison and Southern Fidelity policies had an extra 60 days to place those policies while maintaining coverage for policyholders after cancellation.
Lighthouse Excalibur and Maison policies will be canceled on June 30. Southern Fidelity policies will be canceled on July 15, according to Donelon.
With this change, Donelon said Citizens will effectively provide coverage for Lighthouse Excalibur and Maison policyholders from June 30 through Aug. 28, and for Southern Fidelity policyholders from July 15 through Sept. 13, as long as agents place policies with Citizens by the 60-day deadline and it is a risk that meets Citizens guidelines.
Donelon said policyholders whose insurance policy is canceled will be covered by Citizens for claims occurring between their cancellation date and the date their agent binds a new policy with Citizens if that date is no later than 60 days following the original policy’s cancellation.
This extension does not affect policyholders who find a new policy with an insurer other than Citizens.
Donelon will provide an update on these canceled policies as well as new laws that will enhance protections for policyholders and strengthen the insurance market.
Joining Donelon will be Senator Kirk Talbot, Chair of the Senate Insurance Committee, and
Representative Mike Huval, Chair of the House Insurance Committee.
The news conference will begin at 2:30 p.m.
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