NU Online News Service, Jan. 19, 12:50 p.m. EST
Louisiana Citizens Property Insurance Corp. has proposed a 10.5 percent overall increase to homeowners-insurance rates in order to correct inadequate rates for wind-and-hail coverage, according to Richard Robertson, CEO of the state-run, last-resort insurer.
"We're not supposed to be competitive in the marketplace, and we feel that were being more competitive than we wanted to be, especially on the wind and hail," Robertson says.
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