Louisiana said private insurers will remove more than 25,000 policies from the state's homeowners insurer Citizens Property Insurance Corporation, a direct result of the state program to provide grants to new insurers for taking these risks.
The state's Commissioner of Insurance Jim Donelon said the program has been so successful that several companies "indicated they may want to participate in a second wave of depopulation toward the end of this hurricane season."
Four insurance companies have participated in the Insure Louisiana Incentive Program, and another has started the process of removing property insurance policies from the Citizens program.
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