(The Middle Sq.) – Louisiana Gov. John Bel Edwards met with state and native lawmakers, residence and enterprise homeowners and others in New Orleans and Larose on Thursday to advertise insurance coverage reforms to enhance providers after pure disasters.
The discussions Thursday and plans for the same occasion in Lake Charles sooner or later are geared toward studying from the challenges going through Louisianans who nonetheless are combating with their insurance coverage corporations after hurricanes in 2020 and 2021, and explaining how proposed laws can repair the problems, in line with an Edwards assertion.
“I’ve stated it earlier than and I’ll say it once more – after a pure catastrophe, it is unacceptable that many Louisianans are extra fearful of their insurance coverage corporations than the storm itself,” Edwards stated. “It’s merely unconscionable that householders should struggle via continuously altering adjusters, lack of response, and fantastic print that hikes their deductibles, simply to allow them to rebuild what’s theirs. After a hurricane, our individuals have sufficient to fret about with out having to be involved that their insurance coverage corporations will merely go away them stranded in an infinite cycle of claims denials.”
Edwards pointed to 5 payments he’s supporting to deal with numerous points which can be pending within the state Legislature.
Home Invoice 317, sponsored by Rep. Matthew Willard, D-New Orleans, and Senate Invoice 150, sponsored by Sen. Jay Luneau, D-Alexandria, would require insurance coverage corporations to supply data to householders about insurance policies on named storms, hurricanes and wind and hail deductibles. It additionally would require a signature from the policyholder earlier than insurance coverage corporations change deductibles.
Willard is also the sponsor of Home Invoice 316, which might require insurance coverage corporations to supply data and documentation about claims in a well timed method, so householders perceive how claims are progressing.
Edwards additionally highlighted Home Invoice 692, sponsored by Rep. Ed Larvadain III, D-Alexandria, to create a Louisiana Named Storm Insurance coverage Fraud Prevention Authority. The authority can be tasked with implementing the state’s present insurance coverage fraud legal guidelines.
Home Invoice 682, sponsored by Rep. Chad Brown, D-Plaquemine, would create a registry for insurance coverage claims adjusters to assist policyholders verify these despatched by an insurance coverage firm are certified.
One other proposed reform, Home Invoice 805, sponsored by Rep. Kyle Inexperienced Jr., D-Marrero, would regulate how mortgage corporations disburse insurance coverage checks to make sure they don’t seem to be unnecessarily withheld from householders working to restore their houses.
Edwards harassed his help for insurance coverage reforms shouldn’t be restricted to the precise payments in his legislative agenda.
“Happily for residence and enterprise homeowners who’re nonetheless trapped in insurance coverage purgatory, unable to rebuild and absolutely get well, there may be bipartisan help and momentum for significant insurance coverage reform on this legislative session,” he stated. “I look ahead to working with legislators on this struggle to get our residence and enterprise homeowners out of this determined scenario.”
Dozens of devices involving insurance coverage reforms are pending within the Louisiana Legislature for the present session, which runs via June 6, together with reforms to penalize insurers for misleading practices and for not well timed paying property insurance coverage claims associated to catastrophic occasions.