BATON ROUGE, La. (BRPROUD) — Policyholders in Louisiana will have an extra 30 days to place policies with Louisiana Citizens after another insurance company is set to cancel at the end of March, according to Insurance Commissioner Jim Donelon.
Donelon said policyholders have another 30 days after United Property & Casualty Insurance Company policies cancel on March 29. He said UPC policyholders who don’t find a new policy before the UPC policy is canceled will be covered by Citizens for claims between the cancellation date and the end of the extension period.
“UPC policyholders should use this extra time to secure coverage with a private insurer before turning to Citizens,” said Commissioner Donelon. “I urge these policyholders to immediately contact multiple agents, including independent agents, and begin shopping for a new policy.”
Officials said UPC was placed into liquidation on Feb. 27 after estimated losses from Hurricane Ian climbed to $1.5 billion.
Donelon said recently that participating insurers will receive credit toward the Insure Louisiana Incentive Program’s grant requirements for taking UPC policies.
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