Insurance Commissioner speaks out about Supreme Court ruling
BATON ROUGE, LA (NBC33) — Insurance Commissioner Jim Donelon says the decision to reinstate more than $90 million in claims is just wrong.
The decision was made by the Louisiana Supreme Court on Friday.
It says the state took too long to start the claims adjusting process after Hurricane Katrina.
Donelon says it's a decision that will have negative effects for many Louisianians,"Has the potential to be devastating for our state beginning with policyholders of property insurance of all forms statewide from Shreveport to Grand Isle, property insurance for commercial buildings and for mobile homes and for renters and for homeowners."
The decision upholds a previous ruling by the Jefferson Parish State District Court back in 2009. Louisiana state law says insurance comapnies need to start adjusting claims within 30 days.