Displaying items by tag: Louisiana insurance

Say what?  I’m sure I’m not hearing this right.  After spending millions of dollars in lobbying for so called tort reform, and promising that limiting policyholders’ legal rights will cause a major reduction in the cost of automobile insurance, the industry seems to be taking an “about-face”.  Here’s what the Morning Advocate reported this week:

“Louisiana drivers will pay the highest prices for auto insurance in the nation next year despite having passed a sweeping tort reform law that was sold as a way to dramatically lower premiums by as much as 25%, an insurance industry executive, who was one of the primary forces behind the legislation, told a panel of primarily Republican businessmen and legislators, who helped pass the new law.”

It’s the kickoff for hurricane season and forecasters are predicting as many as 14 named storms with anywhere from 3 to 6 of these storms growing into major hurricanes. Here on the Gulf Coast, we certainly perk up when this time of year rolls around.  For years, a good story in south Louisiana went like this:

 “I’m a Catholic, so I certainly know a good bit about suffering,” she would say.

“Yeah, I’m a Louisiana homeowner, he answered.

“Oh, so you understand.”