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3K people owed settlement proceeds from Citizens Insurance

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Posted: Apr 23, 2014 3:21 PM
Source: Associated Press

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Topics: Settlement, Proceeds, Citizens, Insurance

BATON ROUGE- If you are one of roughly 3,000 individuals who participated in a class action lawsuit against the Louisiana Citizens Property Insurance Corporation and never claimed your settlement proceeds, the money is now Unclaimed Property.

That's according to State Treasurer John Kennedy.

"Regardless of the reason why this money was never claimed, it's our job to return it to you," said Treasurer Kennedy.

The Treasury deposited $5.5 million in settlement proceeds on March 31 and loaded the names of participants into its Unclaimed Property database.

The proceeds come from a class action lawsuit that was filed against Citizens for the slow adjustment of claims after Hurricanes Katrina and Rita.

The state's Unclaimed Property Division received the proceeds for class members who did not collect their payment or who never cashed their checks.

All searches for unclaimed Citizens class action settlement proceeds should be done using the Treasury's main Unclaimed Property search page on www.LATreasury.com or by calling toll-free 1-888-925-4127.

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