BATON ROUGE, La. - While Louisiana's new insurance high-risk pool hasn't had enough time to build up a financial cushion to absorb the potential effects of Hurricane Ivan, other reforms in place should enable insurers to pay ensuing claims.
"There is a concern that Ivan will hit before sufficient reserves were built up, but recent insurance reforms should enable the state to adequately confront the issue," said Greg LaCost, senior counsel and regional manager of the Property Casualty Insurers Association of America (PCI).
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