Two bills related to homeowners' insurance in Louisiana are on their way to the governor's desk.
The state House of Representatives and the Senate both passed the bills in last week's special session.
The first appropriates $45 million in grants to entice more insurance companies to Louisiana. The second prevents companies that have filed for bankruptcy from being eligible for the incentives.
Gov. John Bel Edwards issued a statement thanking members for their work in the special session.
“I am grateful to Senate President Page Cortez, House Speaker Clay Schexnayder, and the entire legislature for their willingness to come in for this brief special session," said Edwards. "This appropriation into the Insure Louisiana Incentive Fund will only partially address the current crisis by bringing more insurers into our market, limiting premium increases by fostering competition, and reducing the number of Citizens policies and the attendant risks of statewide assessments to address the impact of future catastrophic weather events."
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