Miami-based Weston Property and Casualty has become the latest Louisiana insurer to be taken over by a state agency.
Weston leaves more than ten-thousand policy holders without coverage.
Those policy holders will now be directed to the state’s industry bailout program.
Weston’s collapse is the eighth company to go belly up in the past year.
According to the Times-Picayune/New Orleans Advocate the company was taken over July 29th as the company’s board voted to liquidate.
Residents holding policies with Weston have 30-days before their insurance is permanently cancelled.
