March 14, 2023


Donelon Announces Nine Companies Applied for Over $60M in Insure Louisiana Incentive Program Funding

Insurance Commissioner Jim Donelon announced today that nine companies applied to participate in the Insure Louisiana Incentive Program during the application period that closed on March 10. The nine insurers collectively asked for over $62 million in grant money, which is about $17 million more than the $45 million allocated to the program.

“The application period was more than successful, and approved companies will soon begin offering competitively priced options to Louisiana home and business owners,” said Commissioner Donelon. “Along with several legislative proposals we will introduce to strengthen the market during Regular Session, these insurers will demonstrate to the wider industry that Louisiana is a viable destination to do business on a go-forward basis.”

The nine companies and the grant funding requested by each are listed below:

  • Allied Trust Insurance Company - $6.5 million
  • Applied Underwriters - $10 million
  • Cajun Underwriters Reciprocal Exchange (CURE) - $5 million
  • Constitution Insurance Company - $10 million
  • Elevate Reciprocal Exchange - $5 million
  • Gulf States Insurance Company - $3.6 million
  • SafePoint Insurance Company - $10 million
  • SafePort Insurance Company - $2 million
  • SureChoice Underwriters Reciprocal Exchange (SURE) - $10 million

The Louisiana Department of Insurance (LDI) will review the applications over the coming days and determine each company’s eligibility for participating and funding. Once the review is complete, the LDI will present its findings to the Joint Legislative Committee on the Budget (JLCB) for final approval at either this Friday’s meeting or at a separate meeting in the near future.

Once approved by JLCB, the LDI will enter cooperative endeavor agreements with the program participants and quickly issue funding to the approved companies. The LDI expects the companies to begin writing as soon as April.

House Insurance Committee Chairman Mike Huval has agreed to file a bill during the upcoming Regular Session to appropriate additional funding for the program to meet the full amount companies have requested and are eligible to receive.

The Insure Louisiana Incentive Program offers matching grants to incentivize new and existing insurance companies to write residential and commercial policies in coastal areas, including writing policies out of Citizens. The original Insure Louisiana Incentive Program was vital to the successful recovery of our property insurance market after hurricanes Katrina and Rita in 2005.

Last week, Commissioner Donelon announced that participating insurers will receive credit toward the Insure Louisiana Incentive Program’s grant requirements for assuming UPC policies. Credit will also be given to companies who write policies for former UPC policyholders during the 30-day period after cancellation.

The LDI recommends UPC policyholders do the following:

  • Contact multiple agents, including both captive and independent agents, to obtain as many quotes as possible for a new policy.
  • Ask an agent to contact Citizens for a quote if you are unable to find a policy in the private market.
  • If you do get a Citizens policy, continue shopping around for a new policy as the LDI expects more insurers to begin writing this Spring following implementation of the Insure Louisiana Incentive Program. If you cancel and rewrite your Citizens policy with a private company, Citizens will refund any unearned premium.
  • If you have an open claim with UPC, that claim may or may not eventually be transferred to the Louisiana Insurance Guaranty Association (LIGA) for adjusting and payment. Continue contacting UPC about your claim unless you are notified it has been sent to LIGA.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting