Louisiana Attorney General Charles C. Foti Jr. has filed alawsuit against property-casualty insurers in the state allegingthey collaborated in a price-fixing scheme for repairs in the wakeof Hurricane Katrina.
The suit filed Wednesday in New Orleans Civil District Courtnames six major insurers in the state as well as the companies thatprovided claims-processing software or offered advice or datacollection services.
“This alleged scheme gave insurers an unjust advantage overpolicyholders, which they used before, during and after one of thegreatest disasters this country has ever suffered, by reaping hugeprofits from the misfortunes of persons whom they pledged toprotect from the risk of loss,” said Mr. Foti in a statement. “Ibelieve this unjust advantage resulted in the unjust enrichment ofthemselves to the detriment of the state, policyholders andcommerce in Louisiana.”
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