Citizens board offers $103M to settle lawsuit

 Friday, February 24, 2012

 CBS News

Louisiana’s property insurer of last resort is offering nearly $103 million to settle disputes over its handling of claims after hurricanes Katrina and Rita more than six years ago. The governing board of the Louisiana Citizens Property Insurance Corp. voted 12-0 Wednesday to bump up its previous settlement proposal of $80 million, which had been rejected by the plaintiffs’ lawyers.
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