Lack of affordable insurance threatens Louisiana's disaster resilience. In Lake Charles, it's a major obstacle.
Sep. 3—Four years ago,
Today, much of the city can celebrate successes in its ongoing recovery, with many homes, businesses and infrastructure restored. Accompanied by Insurance Commissioner
"Insurance is my biggest concern for this community, and probably my biggest concern for the
To make sure they do was the first item on a long list of strategies to combat the insurance crisis, and its impact on communities like
Across the state, including in
Since taking office in January, Temple said he and his staff have worked to promote strides that municipalities, businesses and homeowners have made in making their infrastructure, buildings and homes more resilient when disaster strikes — and are advocating for companies to return and offer rates that reflect the lower risk.
"If you want the credit for building stronger, more resilient homes and businesses and infrastructure — they need to know about it," Temple said. "There is a little bit of lag on what
Temple said he's met with insurance companies and other players in the industry — with some success. According to the commissioner, several companies have recently filed applications with the
"It's a few, it's not a lot, and that is not a victory," Temple said. "We need to fill the void that was left."
Temple also pointed to legislation passed this year aimed at making
"
In May, Gov.
"Commissioner
A poll commissioned by the Times-Picayune found voters disapprove by a wide margin of one key bill in the package, to eliminate the longstanding rule that insurers can't drop policyholders after three years.
Landry has assigned the responsibility for the legislation's success in making insurance more affordable and accessible to Temple, a responsibility the insurance commissioner accepted in front of legislators.
Temple has been careful to make any predictions on the timeline and extent of the effect the new legislation will have on premiums, but pointed to reforms in
"That's what we should expect in
After passing a slew of property insurance related bills in 2022 and 2023,
But Temple said he also plans to take insurance companies to task, by promoting legislation that would make them the funders of the state's fortified roof grant program.
Currently, taxpayers are funding the program which provides direct grants or tax breaks to homeowners adding and building with fortified roofs — and receive a discount from their insurance provider in exchange.
The discount varies and Temple said next year he plans to push for legislation that will make the program the financial responsibility of insurance providers. He also plans to advocate for fortified roofs to be required as part of the building code in certain parts of the state.
"We need more resilient properties and a surefire way to build a better structure that is good for you is to build a fortified roof," Temple said.
Flood insurance was another issue that was front of mind for attendees of the
Temple said he was working to attract more private flood insurance providers to the market, as rates in the
The program is administered by the federal government, which Temple noted places it outside of his purview, but if there was ever a time for
"Your congressional delegation is as strong as it's ever been. We've got the speaker of the House. We got the majority leader from
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