This week, in an Extraordinary Special Session, the Louisiana Legislature is discussing the authorization of $45 million in funding to entice insurance companies to return to the Louisiana markets. We think that this is a misguided approach that will lead to more harm than good. There are several key problems in this approach: 1. There is no guarantee that stable and reputable firms will come back to the market for these incentives. 2. Any insurers who do come back to the market will likely cherry pick from Louisiana Citizens customers with higher credit scores, higher incomes, and lower risk. There is also no guarantee that those customers will see significant savings or if they will be subjected to policies that provide skeletal coverage. Any investment of public dollars must benefit those who need help the most—those for whom the drastic increase is unsustainable for any significant amount of time. 3. This won’t...

This week, in an Extraordinary Special Session, the Louisiana Legislature is discussing the authorization of $45 million in funding to entice insurance companies to return to the Louisiana markets. We think that this is a misguided approach that will lead to more harm than good. Read HousingLOUISIANA’s full statement here: puthousingfirst.wordpress.com/2023/01/31…l-session/...

Lake Charles, LA (KPLC) – State lawmakers are back at the capitol to deal with the issue that’s costing many lots of money. There’s only one thing on the agenda at the special session and that’s dealing with the state’s homeowners insurance crisis. The session started at noon Monday, with the one bill being assigned to the appropriations committee to take up on Tuesday. Lawmakers will have 7 days to come up with a plan on how to divvy up $45 million in state money. According to insurance commissioner Jim Donolen, that should be enough money to entice some companies to do business here in Louisiana....