Louisiana welcome sign There was a total of $3.15 million in grant fund available during the second application period, but the LDI expects another $10 million will be appropriated for the program during Louisiana’s legislative session, at which point applications will reopen. (Credit: Ingo70/Shutterstock.com)

Applications opened May 1 for the second round of the Insure Louisiana Incentive Program, but the Louisiana Department of Insurance (LDI) announced May 16 that the application period was closing early while the program awaits more funding. This round of applications was originally scheduled to remain open through May 25.

The incentive program began after Hurricanes Katrina and Rita in 2005. It was reenacted through the Louisiana Legislature in 2022 in an attempt to increase the availability of property insurance by encouraging insurers to participate in the voluntary property insurance market and take some pressure off the Louisiana Citizens Property Insurance Corporation.

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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