Citizens Insurance Plaintiffs Clear Another Hurdle
A judge has removed another legal hurdle for policyholders of Louisiana Citizens Property Insurance Corp. trying to collect more than $100 million for the company's failure to handle claims quickly enough following the 2005 hurricanes.
Citizens chief executive Richard Robertson said the ruling late Tuesday gives Regions Bank 10 days to tell plaintiff attorneys in the class-action lawsuit how much of Citizens' money the bank is holding.
About 18,500 Citizens policyholders have won a $92.3 million judgment against the property insurer of last resort. Judicial interest has driven that figure to about $105 million. Another 6,500 policyholders have pending court claims.
Attempts to reach a settlement covering all 25,000 policyholders have failed.
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