Louisiana's insurance commissioner is calling on state lawmakers to once again consider bills that he says will bring down insurance rates across the state. He says time is of the essence in getting these reforms passed.
"We've got to take some big, bold movements," Insurance Commissioner Tim Temple said to WWL's Tommy Tucker. "Everybody right now knows that every year--that every time they get their renewal--it's going up and up and up because we're not making the big, bold changes that we need to be doing."
Temple says he's pushing Louisiana lawmakers to hold a special session in 2025 to address the state's auto and home insurance crisis. Specifically, Temple wants lawmakers to consider tort reform bills to limit the amount of money car crash victims can collect in civil judgments.
"The annual tort costs . . . grows about seven percent every year." Temple said, citing a $220 million settlement for a car crash with a single victim as an example of why this tort reform is needed. "We have got to start to control our medical costs (and) our legal costs, and that will help control our legal costs."
Temple says he wants lawmakers to go into a special session to address tort reform and other proposals that could help lower home and auto insurance costs.
"In 2025, we are going to continue to push a special session to address this crisis," Temple said. "I don't think we can get it done once a year during a regular session trying to bring legislation and, if we're not successful, everybody says we'll come back next year and do it. You can't wait another year. I can't wait another year. Your listeners and the rest of the citizens of Louisiana can't wait for another year. We have got to tackle this crisis now."
The regular legislative session begins on April 14. Neither lawmakers nor Governor Jeff Landry have signaled that they will call for a special session before then.
