FOR IMMEDIATE RELEASE

April 25, 2024

 

Statement From Commissioner Tim Temple on Passage of Property Insurance Reform Legislation

With the final passage of SB 323, SB 295, HB 611 and HB 120, we have taken a bold first step in addressing the insurance crisis that most Louisianans have been facing for several years now.  

Thank you to Governor Landry, President Henry, Speaker DeVillier, Chairman Talbot and Chairman Firment for your strong leadership on insurance reform, and thank you to legislators like Sen. Heather Cloud, Sen. Adam Bass and Rep. Matthew Willard for carrying important legislation that will help create a competitive and stable insurance marketplace for Louisianans. 

These bills provide real, proven solutions to the problems that have been plaguing our market — problems identified not only by the Governor’s Insurance Policy Council and my Transition Advisory Team, but also by the insurers and reinsurers that have been avoiding an increased investment in Louisiana for years.  

Change is slow, but the passage of these bills starts the process of bringing the Insurance Renaissance Louisiana families and businesses deserve.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.