One month remains in the Louisiana Legislature's regular session, and lawmakers are still working to pass bills that they say will lower auto insurance rates. The president of the state Senate says reforming the state's insurance climate remains easier said than done.
"Unfortunately, none of the bills we're going to pass are going to have a direct correlation to lowering car insurance," Senate President Cameron Henry told WWL's Tommy Tucker, referring to several bills dealing with auto insurance tort reform that committees in his chamber will likely pass.
Henry places part of the blame on the auto insurance industry.
"I believe the insurance industry--auto insurance--made about $1.4 billion in Louisiana last year, but that doesn't seem to be the number that they need to be able to keep rates stationary, let alone to lower them," Henry said. "The insurance industry has marketed this in a manner that we have to continue doing what they say on the hopes that, eventually, at some point in time, they will lower rates."
Henry also puts part of the blame on his colleagues.
"People cherry-pick certain laws and certain statutes from each state and say let's blend it all into this bill," Henry said, referring to lawmakers who are proposing implementing laws on the books in neighboring states in hopes of driving down auto insurance rates.
Henry says senators will seek answers about this from Insurance Commissioner Tim Temple.
"That question's going to come up this week whenever we have an opportunity to talk to the insurance commissioner in committee," Henry said.
Speaking of Temple, Henry says lawmakers are considering making his post an appointed one.
"Across the board, you don't have to change or blend any laws to have an insurance commissioner that is appointed," Henry said, noting that Temple would finish out his term even of such a law passed. "The process of appointing him can evolve by each state, but in reality, that's just one of the things we're going to look at."
Related
