Liberty Mutual owes approximately $4 million to about 138,000 Louisiana policyholders after overcharging the Louisiana Property Insurance Corporation Emergency Assessment for the past four years, Insurance Commissioner Tim Temple said.
Temple said the Louisiana Department of Insurance received a consumer compliant in February about the Louisiana Citizens assessment charged on their Liberty Mutual renewal notice. LDI reached out to Liberty Mutual and discovered that due to an error, the company had not updated the assessment percentage since 2021.
“Last month we learned of an unintended clerical error in how we applied the Louisiana Citizens assessment