Louisiana Department of Insurance Form

Instructions and help about Louisiana Department Of Insurance

good morning and thank you all for coming as you know us in Louisiana we're facing it's the toughest property insurance Market since the aftermaths of hurricanes Katrina and Rita back in 2005. several factors of contributing to our situation including unprecedented insured losses from the hurricane seasons of 2020 and 2021 costs associated with inflation is making it worse I just heard on the way in that inflation is now six percent year over year this month which is an improvement over the 6.4 percent the previous month the poor environment for the insurance Market in Florida where Many Louisiana insurers also do business and frankly are domiciled and do the bulk of their business fortunately Florida took substantial positive steps in 2022 to address their man-made crisis although Louisiana's Insurance crisis is not man-made there are several steps we can take to address it our first step the insurer of Louisiana and Center program is why we're here today I do want to take a moment to