A new task force created to investigate the high cost of auto insurance in Louisiana held its first meeting on Aug. 21, the Louisiana Department of Insurance reports.
The Louisiana High Auto Rates Task Force was formed by Insurance Commissioner James Donelon to look into high auto insurance rates in the State of Louisiana and make recommendations to the legislature for actions to lower rates. The 2018 Regular Session of the Louisiana Legislature passed a House Concurrent Resolution (HCR 47) and Senate Concurrent Resolution (SCR 55) urging and requesting the Louisiana Department of Insurance to assemble a task force to address the high cost of auto insurance during the 2018 Regular Session.
“High auto insurance rates have plagued Louisiana families for years, and while we’ve come up with some band-aids, we haven’t seen any silver bullet solutions,” Donelon said in a departmental release. “I’m hopeful that recommendations made by this task force will be successful where previous efforts have failed.”
Commissioner Donelon has appointed industry and community leaders to serve as members of the task force including Representative Kirk Talbot, chairman; Senator John Smith, vice chairman; Senator Wesley Bishop; Rich Piazza, Louisiana Department of Insurance and representatives from each of the following: Property Casualty Insurers Association of America; American Insurance Association; National Association of Mutual Insurance Companies; Professional Insurance Agents of Louisiana; Louisiana Association of Justices; and Louisiana Motor Transport Association Inc.
Source: Louisiana Department of Insurance
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