BATON ROUGE, La. (BRPROUD) — Another insurance company is pulling out of Louisiana.
Louisiana Insurance Commissioner Jim Donelon said Wednesday that United Property & Casualty Insurance Property (UPC), which has 36,000 Louisiana policyholders, will be leaving several states in the new year.
The Florida-based company is the latest to leave as at least 23 companies have recently withdrawn from Louisiana or gone insolvent, The Advocate reported.
Here’s what Louisiana policyholders need to know:
About 33,000 UPC policyholders whose current policy term is scheduled to end in 2023 will receive written notification of non-renewal from UPC at least 30 days before their coverage end date.
UPC is extending coverage for its approximately 3,000 policyholders whose current policy term is scheduled to end between November 26 and December 31, 2022. UPC will send those policyholders an invoice for the extended coverage period and a notice of non-renewal at least 30 days before their extended coverage end date.
Louisiana Department of Insurance
State insurance officials are telling policyholders to look out for any mail from UPC and that the company will continue handling outstanding claims.
Any policyholders who wish to file a complaint if they feel their claim has not been properly resolved are asked by the state department of insurance to call 800-259-5300.