At the mansion Wednesday morning, Gov. Jeff Landry signed six insurance reform bills into law, after promising residents he would address the state’s insurance crisis. Among them is a bill giving the Insurance Commissioner the authority to reject excessive rates. But Insurance Commissioner Tim Temple has criticized the legislation, and others signed by Landry. The governor has previously stated that if rates don’t go down because of this law, it’s the commissioner’s fault. But today he denied that statement.
“I’m not blaming the commissioner, I’m not sure what he’s talking about,” said Landry.
Landry signed what he said is the largest tort reform effort in the state’s history. The governor, who's also an attorney, didn't hold back on who he believes is responsible for the state’s high auto and property insurance rates.
“ Let me be clear, I believe both trial lawyers and insurance companies are responsible and they are to blame. For the pain. Our families are enduring in their pockets each and every month,” the Republican said.
Here’s what to know about each law.
HB 148: Insurance Commissioner Authority
- Grants the Insurance Commissioner greater authority to hold down rates.
- Texas, Mississippi, South Carolina, Florida, or Alabama—to just name a few states— all grant their insurance commissioner this power.
HB 450: Housley Presumption
- Would require someone who sued over injuries in a car accident to show that the injuries actually occurred during the accident.
HB 434: No Pay No Play
- Would disallow a driver without car insurance from collecting an award for bodily injury medical expenses for any amount below $100,000, up from $15,000.
HB 436: Illegal Aliens
- Would prohibit undocumented immigrants who are injured in car accidents from collecting general damages
HB 431: Comparative Fault
- Would bar drivers responsible for at least 51% of an accident from receiving a damage award to cover their injuries.
- Under current law, a driver responsible for, say, 51% of the accident can collect a payment equal to 49% of the overall damage award.
HB 549: Dash Cam Discount
Provides a premium discount for commercial motor vehicles with dashboard cameras and telematics systems.
There are other insurance reform bills still making their way through the legislature, including SB 28, which would give homeowners who retrofit their home with a fortified room a tax credit of up to $10,000.