Southern Fidelity, a seventh homeowners' insurance company that writes policies in Louisiana, was declared insolvent June 16 sending into shock customers, regulators and agents who face a tightening insurance market at the start of hurricane season. Southern Fidelity, which has 42,000 policies in Louisiana, was ordered into liquidation by a Florida judge. Its policyholders will be thrown to the mercy of an industry bailout program run by the state. (Source: The Advocate 06/17/22) Seventh Louisiana homeowners insurer collapses, deepening crisis in marketplace | Business News | nola.com
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