Insurers who fail to pay property damage claims in a timely manner will pay even more, according to an article by the Baton Rouge daily Times-Picayune newspaper.

According to reporter Robert Travis Scott, a bill passed by the House Insurance Committee last week would raise penalty prices for insurers who delay paying claims. The proposed legislation was created based on homeowners' frustrations from Hurricanes Katrina and Wilma.

Current Louisiana law requires insurers to pay claimants within 30 days once the damaged has been proved and the financial amount verified. Senate Bill 620, by Sen. Edwin Murray (D-New Orleans), would double insurers' late payment fee from 25 to 50 percent of the damages owed, said the Times-Picayune. The bill would also allow courts to mandate that insurers pay attorneys' fees.

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