Citizens Property Insurance Corporation Board of Directors public meetings in 2021
6 substantive meetings from 2021, with official agendas or minutes and plain-English summaries.
Citizens Property Insurance Corporation Board of Directors
The board will consider and vote on several items including CEO and officer compensation, a commercial and personal lines underwriting limits increase, the proposed 2022 budget, and third-quarter 2021 financials. An executive session is scheduled to discuss a settlement update and HR complaints.
- CEO compensation and contract (voteable)
- Officer compensation and contracts (voteable)
- Commercial and personal lines underwriting limits increase (voteable)
- Proposed 2022 budget (voteable)
- Third quarter 2021 financials (voteable)
Citizens Property Insurance Corporation Board of Directors
The Louisiana Citizens Property Insurance Corporation Board will consider and vote on a proposed commercial rate filing, along with financial reports and committee appointments. The meeting also includes an executive session for litigation and a human resources complaint.
- Proposed Commercial Rate Filing (voteable)
- July 2021 and 2nd Quarter Financials (voteable)
- Compensation Committee Report (voteable)
- Committee Appointments (voteable)
- Executive session regarding lawsuit Geraldine Gentry et al. vs. Louisiana Citizens Fair Plan
Citizens Property Insurance Corporation Board of Directors
The Louisiana Citizens Property Insurance Corporation Board of Directors will hold a regular meeting to discuss and vote on several financial and operational items, including the 2022 assessment rate, re-certification of the 2005 deficit, and the 2020 depopulation report. The board may also convene in executive session to discuss litigation and a human resources complaint.
- Vote on 2020 depopulation report
- Vote on 2005 deficit re-certification
- Vote on 2022 assessment rate
- Executive session on litigation: Geraldine Oubre and Linda Gentry vs. Louisiana Citizens Fair Plan, No. 625-567, 24th Judicial District Court, Jefferson Parish
- Executive session on HR complaint report
The Board denied SafePoint Insurance's application to participate in the 2021 depopulation round. Members also approved the 2022 assessment rate and re-certified the 2005 deficit. The Board approved the minutes from the May 2021 meeting.
- Denied SafePoint Insurance's application for 2021 depopulation participation
- Approved 2022 assessment rate at 2.44%
- Approved re-certification of 2005 deficit at $1.358 billion
- Approved May 2021 meeting minutes (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will review the CEO report, including updates on reinsurance, CAT bonds, and the 2021 round of depopulation. The meeting also includes votes on the 2021 round of depopulation and first quarter 2021 financials.
- 2021 round of depopulation (Voteable)
- 1st Quarter 2021 Financials (Voteable)
- 2021/2022 Reinsurance and CAT Bond Update
- 2020 Actuarial Report
- 2020 Audit Update
The Board approved the number of policies, requirements, and timelines for the 2021 round of depopulation. Members also approved the 1st Quarter 2021 financials and the minutes from the March 2021 meeting.
- Approved 8,000 policies for 2021 depopulation and associated timelines (unanimous)
- Approved 1st Quarter 2021 financials and their filing with the LDI (unanimous)
- Approved March 2021 meeting minutes (unanimous)
- Entered Executive Session to discuss potential and pending litigation (unanimous)
- Exited Executive Session with no formal action taken (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Louisiana Citizens Property Insurance Corporation Board of Directors will hold a regular meeting to discuss and vote on several operational items, including a storm update, reinsurance for 2021/2022, selection of a CAT vendor, a personal lines rate filing, 2020 year-end financials, and renewal of a line of credit. The board may also convene in executive session to discuss settlement and HR complaint updates.
- Vote on 2021/2022 reinsurance update
- Vote on CAT vendor RFP vendor selection
- Vote on personal lines rate filing update
- Vote on 2020 year-end financials and management book
- Vote on line of credit renewal
The Board approved a series of catastrophe (CAT) vendors for claims administration and adjusting. Members also approved the 2020 year-end financials and a two-year extension of a $50 million line of credit.
- Approved January 2021 meeting minutes (unanimous)
- Approved CAT vendors: MD Claims Group (TPA), IAS Claims Service (backup TPA), Eberl (FNOL), Creative Adjusting (desk adjusting), and Eberl, Legion Claim Services, BSA Claim Services, Team One Adjusting Services, and Inspection Depot (supporting adjusting firms) (unanimous)
- Approved 2020 year-end financials for filing with the LDI (unanimous)
- Approved two-year extension of $50 million line of credit with fees of $132.5 thousand (unanimous)
Citizens Property Insurance Corporation Board of Directors
The Board of Directors will meet to review the 2021 reinsurance market update and 2020 storm impacts. The meeting includes votes on catastrophe vendor RFP approval, assessment guidelines, and a personal lines rate filing proposal.
- Personal Lines Rate Filing Proposal (Voteable)
- Catastrophe Vendor RFP Approval (Voteable)
- LCPIC Assessment Guidelines (Voteable)
- 2021 LCPIC Reinsurance Market and Strategy Update
- Oubre Settlement Update (Executive Session)
The Board approved a proposed personal lines rate filing for submission to the LDOI and adopted new assessment guidelines. Members also approved a Request for Proposals (RFP) for catastrophe vendors and the minutes from the November 12, 2020 meeting.
- Approved personal lines rate filing for LDOI submission (unanimous)
- Approved CAT Vendor RFP as proposed (unanimous)
- Approved and adopted LCPIC Assessment guidelines (unanimous)
- Approved November 12, 2020 meeting minutes (unanimous)