Steve Gardes
Did state budget forget insurance crisis?
Tue, 03/21/2023 - 1:50pm
On February 3rd the State Legislature ended its Special Session to address the state’s homeowner’s insurance crisis by directing only a “$45 million band-aid” to a Louisiana Insurance Incentive Program to lure more insurance companies back to Louisiana. State Insurance Commissioner Jim Donelon has said that “property insurance is now an EXISTENTIAL CRISIS for Louisiana as Insurers doing business in the state are now facing a costly, high-risk gamble” as they have lost <$25 billion> during the last two years, forcing 22+ insurers into insolvency or to leave the state.
