Fight to lower Louisiana insurance rates in isn't over

Insurance
Photo credit Tim Temple

The fight to lower insurance rates in Louisiana isn't over, even though lawmakers have ended the regular session.

Louisiana Insurance Commissioner Tim Temple says there were some things he liked, and some things he didn't, when it comes to insurance reform laws.

He told WWL's Newell Normand he still believes a special session on insurance reform is necessary so lawmakers can drill down on the issue.

"If we were to have a special session, obviously we'd want to look at some reform, but I think we should have conversations about, you know, let's throw tax in there and everything else," said Temple. "Let's give all of these efforts the best opportunity to be successful so we can lower these cost drivers, which will help lower premiums."

Temple said he thought an easy step would be to lower the three percent tax Louisiana charges on premiums -- that would immediately cut residents' costs without impacting insurance companies' bottom lines. But a bill that would have done that did not even make it out of committee in the recent session.

Featured Image Photo Credit: Tim Temple