FOR IMMEDIATE RELEASE

May 30, 2024

 

Insurance Commissioner Tim Temple Issues Statement Encouraging Governor Landry to Sign Bills in Auto Insurance Reform Package

Our state remains mired in a crisis of availability and affordability in the auto insurance market. With only a few days left in this Legislative Session, there has not been significant legislation enacted to address this issue.

My package of auto insurance reform legislation was designed as a substantial first step to promote competition in the private passenger and commercial auto markets by creating more transparency and balance in our legal system. This will allow Louisiana’s legal system to operate more like the states we are competing with to attract insurance companies on a daily basis.

All this legislation has undergone hours of legislative debate and amendments negotiated by legislators representing the interests of all Louisianans. While two bills remain stalled in the Senate Judiciary A Committee, the following bills have passed the Legislature with overwhelming support and are awaiting Governor Landry’s signature:

• Rep. Melerine’s collateral source bill, HB 423
• Rep. Jack McFarland’s direct action bill, HB 337
• Sen. Alan Seabaugh’s offer of judgement bill, SB 84
• Rep. Mike Johnson’s two-year prescriptive period bill, HB 315

Three weeks ago, I proudly stood next to Governor Landry when he prioritized property insurance reform by signing four key bills so the property market can more quickly adjust to our newer, more competitive regulatory landscape.

I ask you to join me in urging Governor Landry to sign the auto insurance reform bills as soon as possible and encouraging him to ask the Legislature to send HB 336 and HB 24 to his desk. By signing these bills, Governor Landry can help create a competitive market that will lead to more access to the affordable options our fellow residents, business owners and truckers need and deserve. Governor Landry, please sign these bills.