As insurers flee Louisiana or fold, Legislature could hold special session to launch incentives
Jan. 14—The Legislature will likely hold a special session next month to address
State leaders are grappling with how to get property insurers into the state and reverse a trend of firms fleeing or going out of business after multiple hurricanes struck in recent years.
Cortez, a
"I don't think any of us have a different solution," he said.
The
"I think the idea is it is really one appropriation bill," Cortez said.
The session may take place in early February and the aim would be limit it to about five days.
Another factor is the
Edwards' office did not respond to a request for comment.
The 2023 regular legislative session starts on
State Insurance Commissioner
Donelon, a former House member, said he wants to re-launch an incentive program to lure property insurers into the state.The move is also aimed at reducing the rolls of the hard-pressed
Those policyholders are facing huge rate hikes.
A similar plan was started after Hurricane Katrina struck in 2005.
But in December, Cortez and other state leaders, incuding Edwards, were unenthusiastic about a special session and said the issue could wait until the regular session.
Cortez said what changed is the view that, to attract insurance companies to
Commissioner of Administration
"That is really the name of the game, to reduce the load on Citizens," Dardenne said.
Donelon has asked lawmakers to let him use
Around
The program that would pay for the incentives, which the Legislature enacted last year, would be financed with some of the
Some lawmakers, including House Speaker
"Before we commit to a special session spending
The speaker said Donelon has been invited to appear before the powerful
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