US EditionSlew of New Laws Target Auto, Property Insurance Costs
- Governor Jeff Landry signed six bills in Baton Rouge on Wednesday aimed at lowering Louisiana's car and property insurance rates.
- The legislation responds to rising insurance costs that Landry attributes to practices by trial lawyers and insurance companies both driving rates higher.
- Key provisions include barring drivers found 51% or more at fault from collecting damages, limiting uninsured drivers' claims, incentivizing dash cam use, and expanding the insurance commissioner's authority.
- Landry called the package the 'largest tort reform in our state's history' and predicted rate reductions up to 10%, though Insurance Commissioner Temple and some insurers oppose the measures.
- While the new laws could reduce lawsuits and payouts and lower rates, critics warn they may reduce insurer investment and competition, potentially causing rates to rise instead.
14 Articles
14 Articles
Drivers will save big on mandatory monthly fees under new 'rates' law
MOTORISTS can save big on mandatory monthly fees under a new law – with one woman able to save on $280. A major US state is to prevent insurance companies from raising their auto and home insurance rates just because their spouses have died – also known as “widow penalty” – after a new bill was signed. GettyMotorists hit by the so-called ‘widow penalty’ can now save more each month on their car insurance[/caption] GettyThis comes as a US state i…
ROBICHEAUX: Some Thoughts On Texas, Insurance, Attorneys, And Politics
Well, Governor Landry strong-armed his way to victory on HB148, which has little to do with insurance rates, and everything to do with giving himself political cover when half-measures prevent our rates from falling. It’s ironic, because he used intimidation tactics to get his way, without really listening to what consumers or industry experts wanted. […] The post ROBICHEAUX: Some Thoughts On Texas, Insurance, Attorneys, And Politics appeared fi…
louisianafirstnews.com
KTAL NBC 6 NewsGov. Jeff Landry signs bills to address Louisiana's insurance crisis
BATON ROUGE, La. (Louisiana First) -- Gov. Jeff Landry celebrated the passage of tort reform bills to address the state's insurance crisis Wednesday morning. Landry has called for major reforms to address the state insurance crisis through a "balanced approach." In an April 9 speech, he criticized insurance companies and trial lawyers, saying they aided the rise in car and homeowners insurance rates while insurers profited. "Let me be clear, I b…
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