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State reducing Citizens insurance policies
Two years after Hurricanes Katrina and Rita in south Louisiana in 2005, the Citizens Property Insurance Corporation saw its bulk of insurance policies balloon.
Before 2005, Citizens Property Insurance Corporation had roughly 111,000 policies. Two years later, that number had increased to 170,000 policies.
According to Louisiana Insurance Commissioner Jim Donelon, the state Department of Insurance was tasked to lower that number.
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