|
NEW ORLEANS (AP) - Louisiana's state-run insurer is nearing a mass settlement with homeowners that would be the first deal of its kind in the state since hurricanes Rita and Katrina led to thousands of lawsuits, an attorney for the homeowners said Monday.
Citizens Property Insurance Corp., Louisiana's insurer of last resort, has agreed "in principle" to settle out of court with 165 policyholders in Cameron Parish who sued over the company's refusal to cover damage caused by Rita in September 2005, attorney Jennifer Jones said.
Jones would not specify the terms of the proposed multimillion-dollar agreement, but said an agreement could be announced by the end of this week.
|