re: Homeowner’s Insurance is collapsing in LA - UPC gone, Cajun now gone - rates up 40%

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It’s been a crisis for a couple years now but what would your solution be? Seriously, other than forcing insurers to absorb massive losses without recuperating them, there is no solution. Free market. Sure there are some regulations they must follow but property insurance just isn’t a profitable business in Louisiana anymore.

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And the storms aren’t the only cause. We sue too much, and we make too many unnecessary claims.

I don’t know what the answer is, but generally speaking when lawmakers get involved, no one wins except the lawmakers.

Build stronger. Retrofit buildings and require new construction to be more robust. Insurance companies package product and blending high risk with lower risk is needed. Looks at Baldwin and Mobile Counties with the FORTFIED program - it's stabilized their entire insurance market with stronger requirements for retrofits and new construction.

Also make sure the appraisal of the buildings reflect the insurability. Some homes are not worth what they used to be and the appraisal/mortgage underwriting/property tax assessments need to reflect this.