Louisiana Commissioner: Property Insurance Market Has Recovered

Louisiana Insurance Commissioner Jim Donelon told an Alexandria civil club that the state’s property insurance market is “more competitive than ever.”

The Town Talk reports Donelon spoke on May 8 to the Alexandria Rotary Club about the recovery of the property-insurance market and dangers of hurricanes.

Donelon said more companies are doing business in Louisiana today than the day before Hurricane Katrina hit in August 2005.

With hurricane season approaching, Donelon urges residents to have coverage through the National Flood Insurance Program.

Donelon told the Rotarians that only 40 percent of the flood victims of Hurricanes Katrina and Rita had flood insurance in place.