BATON ROUGE, La. (BRPROUD) – Officials gave updates about the Insure Louisiana Incentive Program Tuesday morning.
Louisiana Insurance Commissioner Jim Donelon said $45 million in funding for the Insure Louisiana Incentive Program was passed during last month’s special session. He confirmed that the application period for the first round of the incentive program closed on Friday, March 10.
The round-one application period was a success, according to Donelon.
“The insurers collectively asked for a total of $62 million in grant money,” Donelon said.
A list of the insurance companies that have applied for grant funding:
- Safe Point Insurance Company requested $10 million
- Constitution Insurance Company requested $10 million
- Applied Underwriters requested $10 million
- Sure Choice Underwriters Reciprocal Exchange requested $10 million
- Cajun Underwriters Reciprocal Exchange requested $5 million
- Elevate Reciprocal Exchange requested $5 million
- Allied Trust Insurance Company requested $6.5 million
- Gulf States Insurance Company requested $3.6 million
- Safe Port Insurance Company requested $2 million
The process of reviewing applications has begun and that will continue “over the coming days,” according to Donelon. He said that if all goes well, new policies could be written as early as April.
Donelon announced he will not seek re-election.
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