The state’s insurer of last resort — Louisiana Citizens Property Insurance — recently announced 40,000 more homeowners insurance policies will be transferred to other carriers by Dec. 1.

Citizens CEO John Wortman said the latest round of policy removals will leave Citizens with 100,000 policies left on its books.

Wortman also said more new insurance companies are willing to do business in Louisiana. Companies that qualified for the latest round of transfers are American’s Underwriters Insurance, ASI Lloyds, Bankers Insurance Group, Imperial Insurance Group, GeoVera Specialty Insurance, Lighthouse Insurance, Occidental Insurance and Southern Fiedlity Insurance Co. Five of these are participating in Louisiana’s Insurance Incentive Program that requires the companies write new policies for parishes in the “Go Zone.”

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At least half of insurance policies these companies write must be in the “Go Zone” parishes that includes Iberia, St. Martin and St. Mary, Wortman said.

Currently 6,619 locations in Iberia Parish, 1,195 in St. Martin Parish and 6,309 in St. Mary Parish are insured with Citizen’s policies. Locations could include residential or commercial sites in the parishes and could have more than one insurance policy through Citizens per location.

The exact numbers of local Citizens’ policies assumed will not be available until closer to the Dec. 1 transferring deadline.

Designed to be the insurer of last resort, Citizens premiums are aproximately 10 percent more than the highest market rate.

Denise Brignac, chief deputy insurance commissioner and chairman of the board for Citizens, said homeowners in areas where no other carriers are writing new policies or who live in homes that do not meet the qualifications insurance companies determine for eligibility are left with no other choice than to pay the higher premiums.