The Louisiana House has approved tort reform legislation that aims to lower auto insurance rates. Governor John Bel Edwards vetoed similar legislation saying it does not mandate lower rates for drivers. But Chalmette Representative Ray Garofalo says this new bill requires insurance companies to meet with the Insurance Commissioner to see how much money this legislation has saved them and if the insurance providers are saving money, then they are required to reduce rates.
New Orleans Representative Mandie Landry says just because companies are required to meet with the Commissioner, doesn’t mean he can, or will force them to lower rates.
“There has been not one person from the insurance industry to testify that they will lower their rates because of this legislation, not one, zero,” said Landry.
Landry noted even the ten percent promised reduction in rates would still mean Louisiana ranks in the top five for auto insurance rates.
Erath Representative Blake Miguez they’ve worked hard to make sure this bill ensures Louisiana’s legal system more closely reflects our neighbors who pay much lower premiums.
“We have the second highest auto insurance rates in the country, so don’t you think that we should be looking at things like this or having a valid discussion to make these changes to lower our auto insurance rates?” asked Miguez.
But Amite Representative Robby Carter tore into the bill over how it would impact our ability to fund court systems and ensure injured victims receive just compensation.
“I’m not going to waste a lot of time to tell you how bad this bill is, this ain’t even putting lipstick on the pig this is a pig from the beginning,” said Carter.
The bill passed with a veto proof majority, 73 yeas, 25 nays and heads to the Senate for more discussion
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