Posted: Feb 2, 2012 3:27 AM
Source: Associated Press
BATON ROUGE - Insurance Commissioner Jim Donelon says a decision won't be made until next week on whether the state's property insurer of last resort will pursue a U.S. Supreme Court appeal of a $93 million judgment against the company.
Donelon said Wednesday that his office and leaders of the Louisiana Citizens Property Insurance Corp. continue to discuss their remaining legal options.
Citizens was found to have moved too slowly in dealing with claims after hurricanes Katrina and Rita.
At issue is whether Citizens will pay $350,000 to a Washington-based law firm to ask the Supreme Court to consider an application for appeal of the judgment, which has grown to $104 million with interest.
The high court refused to stall payment of the judgment, even if Citizens tries the federal appeal.