The state's insurance commissioner says the industry is better positioned to face an expected busy hurricane season this year.
Jim Donelon provided an update on Tuesday about thousands of canceled home insurance policies that were transferred to Louisiana Citizens, the insurer of last resort.
Six of Louisiana's 30 private insurers either went bankrupt or pulled out of the state following the hurricane seasons of the past two years
Donelon says new legislation requires new companies to put up $10 million in capital in order to do business in Louisiana, up from the previous $3 million.
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