|
BATON ROUGE, La. (AP) - Gov. Kathleen Blanco on Monday announced a plan to ease homeowners' post-hurricane insurance burden by sending them state checks next year with money raised by selling off what remains of the 1998 tobacco settlement.
Blanco's plan would require approval from the Legislature, possibly in a special session later this year, plus statewide voter approval of a change to the state constitution.
The governor said she aimed to essentially refund the rate hikes — between 10 percent and 15 percent — that insurance companies imposed to offset storm-related losses sustained by the Citizens Property Insurance Corp., the quasi-state insurance firm for those who can't afford coverage elsewhere.
|