“This action is aimed at helping UPC policyholders save money by avoiding Citizens and achieving our overall goal of reducing Citizens’ book of business,” Louisiana Insurance Commissioner Jim Donelon said in a release.(Credit: UPC) “This action is aimed at helping UPC policyholders save money by avoiding Citizens and achieving our overall goal of reducing Citizens’ book of business,” Louisiana Insurance Commissioner Jim Donelon said in a release. (Credit: UPC)

In the wake of United Property & Casualty Insurance Company (UPC) entering receivership, P&C insurance companies that take on Louisiana-based UPC policies before they are canceled on March 29, 2023, will receive credit toward the state’s recently funded insurer incentive program before applications are approved, according to the Louisiana Department of Insurance (LDI). 

The state’s insurance department previously said there would be a short period between when UPC policies cancel and when new companies start writing business in the Bayou State. Countrywide, around 200,000 UPC policies will be canceled. 

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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