The Mid-City Neighborhood Organization’s community meeting tonight (Nov. 14) will focus on the homeowners insurance crisis in New Orleans.
After the 2020 and 2021 hurricane seasons, more than two dozen carriers either stopped writing policies in the state or are no longer solvent. Six failed under the weight of Hurricane Ida claims last year. Of those still standing, most have raised their premiums precipitously high.
The insurer of last resort, Louisiana Citizens Property Insurance Corp., has seen its rolls triple and has warned of steep premium incomes for 2023. Orleans Parish homeowners with a new or renewed Citizens policy can expect an 81.7% rate increase, according to the Louisiana Department of Insurance.
MCNO guest speakers Ron Camarota from the Louisiana Department of Insurance Office of Consumer Advocacy and District 97 state Rep. Matthew Willard will address the rate hikes for Louisiana Citizens Property Insurance policy holders and other property insurance concerns, including options for homeowners. This will be an informational meeting, not a debate, according to MCNO President Thomas Ecker.
The meeting will be in the Warren East Charter High School cafeteria, 3019 Canal St., from 6:30 to 8 p.m.