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Wednesday, April 17, 2019

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Over half of 2011 Citizens assessment rebates unclaimed

Over half of 2011 Citizens assessment rebates unclaimed

BATON ROUGE, La. (AP) — Insurance commissioner Jim Donelon reminds property insurance policy-holders that time is running out to get a rebate on money paid to help support Louisiana's insurer of last resort.

Fifty-two percent of the refunds available for 2011 remain unclaimed. The deadline for claiming them is Dec. 31. They total $34 million.

The assessment on every property insurance policy supports Louisiana Citizens Property Insurance Corp. But 72 percent of each assessment is refundable.

Rebates can be requested online, on paper or on your annual tax return.

Citizens was created to insure property that no other company would insure. At its peak in 2008, it had 174,000 policies.

It has shifted 60 percent of those to private insurers. Donelon says that this year, seven companies will take another 13,200 residential policies.

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