Oklahoma insurance executive Richard Newberry has been picked to head the Louisiana’s property insurer of last resort.
Newberry’s first day as the chief executive officer of Louisiana Citizens Property Insurance Corp. will be Tuesday, said state Insurance Commissioner Jim Donelon.
That’s also the start of hurricane season.
Donelon said Newberry’s 23 years of experience in the industry stood out. Most of that time was spent at Oklahoma Farm Bureau Mutual Insurance Co., where his last position was executive vice president and general manager.
Citizens board of directors will meet at 1 p.m. Tuesday to vote on Newberry’s salary.