Louisiana under Landry... (1 Viewer)

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    nolaspe

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    Welp...






    Here is some bonus stuff from scotus...

     
    How does this help Louisiana's homeowners?
    The Louisiana House voted Wednesday to allow insurance companies more leeway to drop homeowner policies, a move supporters say will help solve Louisiana’s insurance crisis. The companies are currently banned from dropping homeowners who have been customers for at least three years.

    Rep. Gabe Firment, sponsor of the legislation, House Bill 611, said it is badly needed because Louisiana is the only place in the world that imposes the three-year restriction on insurance companies that his bill would repeal.

    The vote was 72-32, with Republicans strongly supporting HB 611, while Democrats voted in opposition.
    ...
    Jim Donelon, who preceded Temple as insurance commissioner for the past 18 years, strongly supported the so-called three-year rule, saying that it kept down rates in Louisiana by forcing insurers to keep their policyholders.

    Real Reform Louisiana has warned that passage of the legislation would cost homeowners their policies, and they would then have to get coverage from the state’s insurer of last resort. Those rates are 10% higher, the group points out.
     
    How does this help Louisiana's homeowners?



    It helps everyone ABOVE I10 (it doesnt) the thinking is it will make La more "attractive" to new companies to come in and write coverage without being hamstrung to absorb losses in first year (from say major Hurricane ) and have to remain on same policy an additional 2 years. With same exposure.
    All this will do is make renewal time post cat event that much more nutter, since most of those carriers will simply exit the market at renewal.

    And historically, that's the dividing line in this state. NLA hates SLa. Always has.
    Homeowners in Shreveport, Monroe to Alexandria and everywhere in between aren't as affected by coastal issues and their respective insurers.

    Not to take this in a tangent, but over last 3 weeks, I've had several clients insurance non-renewed by their carrier and had a new carrier decline coverage due to building being "raised" (not on slab). No one would give me the reasoning (not one underwriter at any of the 3 ) and I can only surmise that it has to do with freezing weather and exposed pipes.

    Anyway, our State legislature is lost. 3/4 don't have constituents that are as affected as SLa. So what's in it for them? Nothing. Lawyers keep pressure on so they don't change tort laws, meanwhile our auto rates are the highest in the nation. And for commercial auto, if you know anyone that owns a service type biz, ask em what they pay. It will blow ur mind.

    I've been sounding alarm since 2022 on the EE board. It no longer matters. The horse is out the barn, so all we can do is chase and hope he tires out. But he keeps getting refreshed every 2 to 4 years.
     
    Louisiana voted for this. As far as I'm concerned, they got what they wanted.

    Maybe if they had to live with the consequences of their votes, they might stop voting against their best interest.

    I just want my federal tax dollars to stop bailing them out when a hurricane hits them. They don't believe in climate change and are doing all they can to make it worse. Let them live with the consequences of it.

    Whatever happened to pulling yourself up by your bootstraps?

    Whatever happened to being responsible? Why don't these states have special funds to cover the damage so that the rest of us don't have to?

    Also, it's not just taxes, it's home insurance and it's not just Louisiana. It's also Texas and Florida.

    We all see our home insurance rates increase because a hurricane hit. The insurance company isn't going to just pay out and not increase rates on all of us because of it. I know it started with my home insurance in the 90s. I was with Allstate at the time. A big hurricane hit Florida and all of a sudden, my rates more than doubled. I called Allstate to ask why and they told me it was because of the hurricane in Florida. It happens every year now. It's gotten out of control.

    I don't know about others but I'm tired of my federal tax dollars bailing out those who refuse to take steps to combat climate change, who do all they can to make climate change worse, who refuse to properly have a special fund that covers the damage from hurricanes and those who don't even care about preventing the damage. I know I'm tired of my home insurance increasing because of a hurricane in a state thousands of miles from me.
     
    Louisiana voted for this. As far as I'm concerned, they got what they wanted.

    Maybe if they had to live with the consequences of their votes, they might stop voting against their best interest.

    I just want my federal tax dollars to stop bailing them out when a hurricane hits them. They don't believe in climate change and are doing all they can to make it worse. Let them live with the consequences of it.
    That's some serious broad sweeping stereotypes.

    All of my family is in southwest LA in the Lake Charles area. That's were I was born and grew up. No one in my family is in a good position to just up and move somewhere else. They're barely making ends meet.

    Not everyone in LA is "drill baby drill" or climate change deniers.

    Washington has the ticking bomb of the Cascadia subduction zone and dormant volcanoes that can become active without much warning. Most of the country will be devastated when the Yellowstone caldera erupts again.

    Are people leaving those areas? Should they not receive our compassion and help either?

    Your statements above are the flip side of the same coin that throws out judgemental statements like, "why should my tax dollars go to those moochers on welfare."
     

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