Louisiana's insurer of last resort, despite $6 million spent on a computer system to track its operations, has been unable to produce a 2005 financial report, a state auditor said.
Legislative auditor Steve J. Theriot told the Citizens Property Insurance Corporation board yesterday that the insurer's system is unable to access data to produce a financial audit for 2005.
The Legislative Auditor is an independent office reporting to the state legislature.
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