Who funds the Louisiana Citizens Property Insurance Corporation?
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Louisiana Citizens Property Insurance Corporation is a nonprofit, state-created insurer of last resort. It is funded primarily by its policyholders' premiums and reinsurance. If losses exceed its resources, Louisiana law allows it to recover the deficit through assessments on insurers writing property coverage in the state and surcharges on Louisiana property insurance policyholders. Compare private-market, specialty-market, and residual-market options with a licensed insurance agent.