Commissioner Donelon Reminds Policyholders of Approaching Deadline to Claim Property Insurance Rebate

WASHINGTON, D.C. – November 27, 2015 – (RealEstateRama) — Insurance Commissioner Jim Donelon reports ongoing progress in the shift of policies to the private market from the state’s insurer of last resort, Louisiana Citizens Property Insurance Corporation (Citizens). At the same time, he is also reminding property insurance policyholders that the deadline to claim a rebate for the Citizens Assessment charged on their 2011 insurance policies is December 31, 2015. Nearly $34 million, or 52 percent, of the refundable assessments available for 2011 remains unclaimed.

In the eight previous rounds of depopulation, Citizens saw the following reductions in policy counts: round one – 26,595 policies on June 1, 2008; round two – 13,343 policies on December 1, 2008; round three – 3,368 policies on April 1, 2009; round four – 13,466 policies on December 1, 2010; round five – 10,890 policies on December 1, 2011; round six – 6,877 policies on December 1, 2012; round seven – 14,268 policies on December 1, 2013; and round eight – 10,739 policies on December 1, 2014.

In the eight previous rounds of depopulation, Citizens saw the following reductions in policy counts: round one – 26,595 policies on June 1, 2008; round two – 13,343 policies on December 1, 2008; round three – 3,368 policies on April 1, 2009; round four – 13,466 policies on December 1, 2010; round five – 10,890 policies on December 1, 2011; round six – 6,877 policies on December 1, 2012; round seven – 14,268 policies on December 1, 2013; and round eight – 10,739 policies on December 1, 2014.

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