Insurance questions (1 Viewer)

[efil4stnias]

So, is deregulation the answer to Louisiana's insurance problems?

Louisiana Insurance Commissioner calls for special session

Some homeowners say they are going without insurance, as insurance commissioner calls for special session

www.fox8live.com

Met him 2 nights ago.

He is talking to everyone, listening and taking notes and trying to think outside the box.

Dereg isn't THE magic bullet. It's just one in a full clip he will need to fire.

And to be fair, it's diminishing some regulations not a total deregulation (free for all)

And it's in response to Landrys veto of a bill that would allow defendants to bring in to evidence of what hospitals billed and insurers paid to date in a personal injury claim to present to jury. ( think auto accident with injury and injured party sues...for medical, pt, soft tissue injury etc).

Tim is fully aware of the mountain he has to climb with very little support inside the Legislature. The attorney lobby is probably the most powerful in state ( or just behind OilGas).

But this state needs to start thinking 5 years ahead or things are going to get much worse for many.

 

[efil4stnias]

So, is deregulation the answer to Louisiana's insurance problems?

Louisiana Insurance Commissioner calls for special session

Some homeowners say they are going without insurance, as insurance commissioner calls for special session

www.fox8live.com

Habitat for Humanity asking for $2mm to help those they put into homes afford the insurance because they are about to lose homes.

Habitat for Humanity asks N.O. City Council for $2M citing foreclosure concerns over homeowners insurance crisis

The state’s property insurance crisis threatens the foreclosure of more than 100 New Orleans families living in Habitat for Humanity homes.

www.fox8live.com

If familiar with Habitat, then this should raise all sorts of alarm bells.

This is tip of the iceberg.

I don't know where you live, but if it's in the Greater New Orleans area, then you are feeling the effects of both property and auto rates that have been rising for the last 3 years.