Oklahoma Insurance Exec to Picked to Lead Louisiana Citizens Insurance

A former Oklahoma insurance executive has been chosen to head the Louisiana Citizens Property Insurance Corp., the state’s property insurer of last resort.

Richard Newberry has been named the new chief executive officer. The Advocate reports state Insurance Commissioner Jim Donelon says Newberry’s first day on the job will be May 31.

Donelon says Newberry has 23 years of experience in the industry, most of that time at the Oklahoma Farm Bureau Mutual Insurance Co. He was executive vice president and general manager of the Oklahoma Farm Bureau Mutual Insurance.

The Citizens board of directors will meet at 1 p.m. Tuesday to vote on Newberry’s salary.