Louisiana bailout fund seeks to raise $600mn as pending claims rocket
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Louisiana bailout fund seeks to raise $600mn as pending claims rocket

Liz Bury
July 18, 2022
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Louisiana’s insurance bailout fund, the Louisiana Insurance Guaranty Association (LIGA), will seek approval this week to raise $600mn by selling bonds after its number of pending claims shot up last year.

The organisation picks up claims from insurers that become insolvent and are unable to pay out to customers.

It is currently operating with a backlog of 13,434 pending claims – five times the number of its last highest claims year...

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