New CEO named for state's insurer of last resort - FOX 8 WVUE New Orleans News, Weather, Sports

New CEO named for state's insurer of last resort

Updated:

BATON ROUGE, La. (AP) - The state's insurance commissioner has named a new chief executive to run Louisiana Citizens Property Insurance Corp., the state-run insurer of last resort.

Commissioner Jim Donelon said Thursday he has named David Thomas to take the helm of the company. Thomas will replace Richard Robertson, who resigned from his $240,000-a-year job effective June 1.

Donelon says Thomas served as president and CEO of Silveus Insurance Partners, of Warsaw, Ind., and has nearly 40 years of experience in the insurance industry.

A spokeswoman for the Insurance Department says Thomas' salary will be $275,000 pending approval of the Louisiana Citizens Board of Directors at their meeting in July.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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