The 19th Judicial District Court in Baton Rouge has approved SafePoint Insurance Co.’s takeover of approximately 30,000 homeowners policies from two insolvent insurers, Access Home Insurance Co.and State National Fire Insurance Co., Insurance Commissioner Jim Donelon announced last week.
The assumption of policies, retroactive to Dec. 1, means that 30,000 Louisiana households will not need to search for new insurance coverage or end up in Louisiana Citizens Property Insurance Corp., the state-sponsored insurer of last resort, after Access Home and State National Fire were placed into receivership in November.
As policies come up for renewal each month starting in March 2022, they will be re-written using SafePoint’s rates and policy forms. Policies that renew before then will continue to show Access Home or State National Fire as their insurance provider because of proper notice requirements and will be re-written as SafePoint policies upon renewal.
SafePoint will have the option not to renew policyholders who had been with Access Home or State National Fire for less than three years in keeping with the limits of Louisiana’s three-year law. Those customers may need to find new coverage at their renewal time.
Any Access Home or State National Fire customer with questions about their coverage should call SafePoint at 855-243-9740 or contact their insurance agent. They can also reach the receiver at 225-201-0107.
Any Access Home or State National Fire customer with questions about an insurance claim with a date of loss before Dec. 1, 2021, should contact LIGA at 225-277-7151 or go to https://www.laiga.org/. LIGA can pay claims of up to $500,000 per policyholder.