Louisiana special session to tackle insurance crisis begins
1 year, 10 months ago

Louisiana special session to tackle insurance crisis begins

Associated Press  

— As insurers in Louisiana flee the state and residents face exorbitant, and in some cases unaffordable, property insurance costs lawmakers returned to the Capitol Monday for a special legislative session to address the ongoing crisis. In a state decimated by hurricanes in 2020 and 2021, insurance companies continue to go insolvent and leave behind tens of thousands of claims for the state’s bailout program to close out. “It is critical that we fund this program, which will save Louisianans money on their homeowners insurance,” Louisiana Insurance Commissioner Jim Donelon said ahead of the special session. John Bel Edwards had originally hoped to address the insurance crisis during the regular session in April, Donelon insisted it couldn’t wait, citing that new insurance companies coming to the state would need reinsurance — coverage bought to ensure they can pay out claims ahead of hurricane season.

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Louisiana’s GOP-dominated Legislature concludes three-month-long regular session
6 months, 3 weeks ago

Louisiana’s GOP-dominated Legislature concludes three-month-long regular session

Associated Press  

— Louisiana lawmakers adjourned the 2024 legislative session on Monday, a three-month-long gathering of the GOP-controlled body marked by the passage of a slew of conservative policies that could reshape various aspects of the state. Policies passed this session included a package of anti-LGBTQ+ bills, migrant enforcement measures, a requirement that the Ten Commandments be displayed in public classrooms and …

Louisiana House advances bills to address insurance crisis
1 year, 10 months ago

Louisiana House advances bills to address insurance crisis

Associated Press  

— Louisiana House legislators begrudgingly, but with bipartisan support, advanced a $45 million funding bill for an incentive program designed to entice more insurers to the state. But in the end with only two bills proposed this special session, one being the $45 million funding bill and another pertaining to restrictions of the proposed appropriation, lawmakers were hopeful that the …

Insurers paid $5B for 2020 Louisiana hurricane claims so far
3 years, 10 months ago

Insurers paid $5B for 2020 Louisiana hurricane claims so far

Associated Press  

— Insurance companies have paid out $5 billion to thousands of Louisiana customers with damage from the 2020 hurricanes so far, according to data released by Insurance Commissioner Jim Donelon’s office that offers the first detailed look at claims. Policyholders have filed nearly 291,000 claims for property damage, business destruction, lost vehicles and business interruption from Hurricanes Laura, Delta and …

Lawmakers: Insurance disputes slow Louisiana storm recovery
4 years ago

Lawmakers: Insurance disputes slow Louisiana storm recovery

Associated Press  

— Southwest Louisiana lawmakers Wednesday criticized the insurance industry’s handling of claims from Hurricanes Laura and Delta, describing slow responses, low-balled damage estimates and drones used to assess destruction instead of people. “We’re almost four months ago, and people are still living without roofs over their houses,” said Rep. Phillip Tarver, a Republican who lives in storm-ravaged Lake Charles. Firment …

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