Ex-La. insurance chief Wooley pleads 5th in Citizens probe

(AP) – Former Louisiana Insurance Commissioner Robert Wooley refused to testify before a legislative committee last Wednesday in the ongoing probe of the state’s taxpayer-backed property insurance company.

Wooley appeared before the Legislative Audit Advisory Council with a lawyer, who explained that the former commissioner would invoke his 5th Amendment rights for two reasons: because the panel hasn’t provided him with sufficient background materials about its investigation, and because his answers could incriminate him.

Citizens is the subject of an investigation from the legislative auditor’s office, which has already accused the company of widespread financial mismanagement involving over $1 million.

Citizens was created in 2003, while Wooley was commissioner. The company serves as the property insurer for homeowners who can’t find a policy on the private market.