Louisiana Insurance Commissioner Tim Temple (photo: Andrew Greenstein/LRN)
Insurance reform will be the overwhelmingly biggest issue in the legislative session that begins Monday. Insurance Commissioner Tim Temple announced his plan for lowering vehicle insurance premiums in the state. In a news conference in Ascension Parish, Temple announced his support for 20 bills, all filed by Republicans, aimed at addressing the biggest drivers of high premiums in the state.
“With this reform package, we are going to fix the cost drivers in our legal system, like medical billing transparency, comparative fault and general damages. These are measures that we know will move the needle and start lowering costs for families and businesses,” Temple said.
Temple says several of the bills he’s supporting deal with frivolous lawsuits that he says are forcing insurance companies to charge high premiums.
“In Louisiana, when we get in an accident, we’re more than twice the national average to file a bodily injury claim, and more than twice to litigate,” Temple said.
Yesterday, Governor Landry unveiled his own insurance reform plan, but Temple says a couple things he pointed out are not true, including Landry’s claim that Temple does not have the authority to deny a rate increase.
“Similar to 29 other states across the country, I have all the authority I need to deny a rate for being too high, and I exercise it,” Temple said.
Temple also said Landry’s claim that insurers can conceal information that he needs to regulate them is also wrong.
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