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Eight insurance companies will receive a total of $42 million in incentive payments to boost the state's property insurance market.
Louisiana lawmakers approved the incentives for companies that agreed to write twice that amount in new policies and maintain that coverage for five years.
Louisiana Insurance Commissioner Jim Donelon says the incentive program will stabilize the state's insurance market.
A number of insurance companies went out of business and others abandoned Louisiana after a series of hurricanes.
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