The Louisiana insurance commissioner is seeking a government takeover of Access Home Insurance Co. and State National Fire Insurance Co., two regional insurance companies that are facing insolvency due to losses from Hurricane Ida to ensure the company’s policyholders are paid what they are owed, officials said.
The insolvency could cause thousands of Louisiana residents to get kicked off their insurance policies. However, policyholders whose insurers go out of business are guaranteed up to $500,000 in payments through a state program.
