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Low ratings didn’t disqualify weak insurers from taking risky policies from Louisiana Citizens

Por: The Advocate Business November 21, 2022

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State lawmakers created one rule that insurers had to follow if they wanted to take over risky policies carried by the state-run insurer of last resort, Louisiana Citizens Property Insurance Corp.The private companies needed a letter grade of B+ or better from the leading rating firm A.M. Best — or its equivalent. But state regulators, desperate to move people off the public insurance plan, were lenient in how they interpreted that rule, a... + full article



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