FOR IMMEDIATE RELEASE

August 22, 2018

Commissioner Donelon Appoints Task Force to Address High Auto Insurance Rates 

On Tuesday, August 21, the Louisiana High Auto Rates Task Force held its first meeting at the Department of Insurance.  The newly appointed task force was formed 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,” said Insurance Commissioner Donelon. “I’m hopeful that recommendations made by this task force will be successful where previous efforts have failed.”

“The cost of auto insurance can be a heavy burden for families that are already struggling,” said Representative Kirk Talbot, task force Chairman. “We owe it to Louisiana citizens to try to make insurance in this state affordable.”

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 Justice; and Louisiana Motor Transport Association, Inc.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.