Over 4,500 owned class action settlement proceeds from citizen insurance lawsuit

BATON ROUGE, LA - The Unclaimed Property division of the Louisiana Department of the Treasury is holding money for more than 4,500 people who participated in a class action lawsuit against the Louisiana Citizens Property Insurance Corporation (Citizens) but never claimed their settlement portion, according to State Treasurer John Kennedy.
“We want to return this money to the people. Call us or visit our website. Most class action members are owed on average $1,640,” said Treasurer Kennedy. “You don’t want to just walk away from this money.”
The Treasury deposited $7.7 million in settlement proceeds on May 15. Names have been uploaded into the Unclaimed Property database, which can be searched online. There are 4,588 individuals who are owed money. Most are entitled to $1,640.
The proceeds come from a class action lawsuit filed against Citizens over the handling of claims after hurricanes Katrina and Rita. The proceeds received by the Unclaimed Property division are for class members who did not collect their payment or never cashed their checks.
“Our average Unclaimed Property refund is $900. The average Citizens refund is much higher,” said Treasurer Kennedy. “If you were a participant in the class action lawsuit and never received any money, please search the Unclaimed Property database.”
To search for class action settlement proceeds, use the search page at www.LATreasury.com or call 1-888-925-4127. Calls will be answered from 8:00 a.m. to 4:30 p.m. Monday through Friday.