The Louisiana Department of Insurance has taken over Metairie-based Louisiana Health Cooperative Inc., a nonprofit health insurance company created with $66 million in federal loans.
District Judge Donald Johnson issued an order Tuesday granting the department’s request to place the co-op into rehabilitation. The order allows Insurance Commissioner Jim Donelon to take possession and control of the failed insurer. The department’s regulators have been stationed at the co-op since July 29.
