Focusing on the ISSUES
Louisiana deserves a better insurance climate, not only for residents, but also for businesses and insurers. Due to a high rate of lawsuits and other factors, the Bayou State's insurance environment has become increasingly unsurvivable for businesses critical to Louisiana's infrastructure. We exist to achieve long-term solutions to this problem that produce better rates and bring insurers back to the state, so that Louisiana can once again become a thriving hub for all businesses.
Commercial trucking is one of the most critical industries in Louisiana. Numerous residents and companies rely these trucks day-in and day-out, yet these trucking companies are being forced out due to the high commercial trucking insurance cost in our state. A solution is needed.
Homeowners
Louisiana homeowners in area of the state face severe weather events that can damage their homes. Insurance market stability is needed to help these homeowners insure their home.
In Louisiana, legal reform is necessary to address multiple facets of the insurance crisis. Until the state has widespread reforms in this area, the factors contributing to high rates will persist.
Auto
Auto insurance rates are continuing to rise in Louisiana, and the insurance crisis is largely to blame. Groups like the Insurance Council of Louisiana are working to posit solutions to high consumer auto rates, which often stem from the lack of insurers in the state.
Due to high lawsuit rates and an uncertain market, reinsurance is necessary in Louisiana. These factors can repel insurers from writing in Louisiana due to the volatile costs. Insurers want certainty, and Louisiana's current situation doesn't afford it.
Workers Compensation
Workers compensation is a key part of the insurance makeup in Louisiana, so the crisis impacts workers as well as insurers. Efforts to find solutions will involve key policy work in this sector.