A joint legislative task force will meet Tuesday at 10 AM to discuss the state’s insurance market and insurance affordability issues.
A substantial package of tort reform went into effect on January 1st that supporters say will ultimately lead to lower premiums. Task Force Co-Chair Kirk Talbot, a River Ridge Senator, said industry reps will be in attendance.
“The message that Louisiana is sending to insurance companies around the country is, look, take another look at us,” said Talbot.
The new law included a significant lowering of the state’s jury trial threshold among other changes.
Talbot said the task force will also take a look at why Louisiana’s medical billing costs are exploding faster than our neighbors.
“The medical billing is out of control in Louisiana. The cost of these bodily injury services and medical costs has really skyrocketed compared to other states,” said Talbot.
The task force will investigate the growing problem of insurance fraud and criminal rings staging wrecks with 18-wheelers to win big payouts.
“It is putting trucking companies out of business. Where it used to be eight or nine thousand dollars to insure one truck it is now over 30,000 dollars,” said Talbot.
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