- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Gov. Landry targets auto insurers over high premiums, calls for greater oversight
Posted on 4/22/25 at 11:14 pm to ragincajun03
Posted on 4/22/25 at 11:14 pm to ragincajun03
What he needs to target is all these cars around that have Texas, Mississippi and Florida plates. They are paying their insurance into those states pots all the while living and working in Louisiana.
0
Posted on 4/23/25 at 4:43 am to ragincajun03
He got this from his hunting buddies
Posted on 4/23/25 at 4:51 am to ragincajun03
quote:
Landry also compared rates in Louisiana to those in neighboring states, highlighting a stark disparity.
“Liability coverage in Louisiana is twice as expensive as in Arkansas, Alabama and Mississippi,” Landry said. “Our citizens are paying 25% more than drivers in Texas. That tells us something is clearly wrong.”
Adopt those states' insurance codes and tort systems, and you will get similar outcomes.
Won't happen.
Posted on 4/23/25 at 4:58 am to ragincajun03
Maybe if they improved the terrible road conditions, focused on driver education and law enforcement, they'd get what they want:
Less accidents= less PI lawyers ( and less insurance defense attorneys).
Less accidents= less PI lawyers ( and less insurance defense attorneys).
Posted on 4/23/25 at 5:10 am to ragincajun03
And what’s he gonna do about us having the highest injury claims??
Posted on 4/23/25 at 5:16 am to Crow Pie
quote:
He is probably a silent partner in whoever puts up billboards. F'da lawyers and uninsured motorist and lawmakers for making this state the WORST in the nation in auto coverage
Blame the govt for the uninsured motorists. It’s unaffordable.
Posted on 4/23/25 at 6:33 am to beerJeep
quote:
That and crack down on the bullshite temp tags
This makes me irrationally angry every single day. The beat to crap cars that have temp tags and texas plates in my area is astounding. So obvious for a cop to investigate but nothing is done.
Posted on 4/23/25 at 6:47 am to Midget Death Squad
quote:
Make ambulance chasers irrelevant and watch the rates plummet. Until then this is all jibber and jabber with puffs of smoke
Landry has proven to be very proficient at jibber jabber with puffs of smoke - that's his specialty. Lots of sound and fury signifying nothing.
Posted on 4/23/25 at 7:26 am to TJG210
quote:
As part of a change of the rules on advertising, I think dollar amounts should be forbidden in advertisements OR they have to explicitly state what injuries the smiling happy person suffered that necessitated an award of $500,000
Agreed.
There’s a lot that should change in advertising.
Some of the people are paid actors and not the actual injured person. Totally misleading.
Otherwise-
- if a person brings a lawsuit and they lose- they need to pay the legal fees of the other person. This curtails frivolous lawsuits.
-Cap awards.
- limit the amount that plaintiff attorneys can loan their clients
Posted on 4/23/25 at 7:50 am to SlidellCajun
quote:
As part of a change of the rules on advertising,
ZERO chance any of this passes Constitutional muster Was decided by SCOTUS decades ago.
You can't ban free speech, even advertising, just cause it annoys the hell out of you.
Landry surely knows this, but he's just pandering to the Hoi Polloi, it's stupid to waste even an ounce of breath on it.
Posted on 4/23/25 at 8:10 am to ragincajun03
Landry has been an absolute zero as a governor.
Posted on 4/23/25 at 8:38 am to TigerGman
quote:
You can't ban free speech, even advertising, just cause it annoys the hell out of you.
I’m sure you can regulate what’s in it, though. No lottery winners or clear language what necessitated Wanda getting $500k.
Posted on 4/23/25 at 8:56 am to notiger1997
quote:
And he’s still not doing a damn thing to fix this issue.
The problem with tackling the issue of high auto premiums is twofold. The first and most obvious problem is the power of the trial lawyer lobby and the awful tort environment in a lot of states in general and in Louisiana in particular. The second problem is somewhat understandable but no less frustrating and that is the general public's complete lack of understanding of what insurance is for and how it works.
A lot of people have the mistaken impression that homeowners and auto insurance is somehow an entitlement program (like social security for example) that they've paid into that is guaranteed to offer a return in the future. Many people mistake their homeowners policy for a home maintenance policy rather than what homeowner insurance actually is which is protection in the event of a catastrophic loss such as a fire or storm related damage such as a massive tree crashing thru the roof of your house.
Notice how that of all the things the governor is proposing to address the ridiculously high auto premiums the most obvious solution is being ignored in favor of proposals that will at best not fix the issue and at worst will make the problem worse. High premiums? Point to that insurance companies are making huge profits via the stock market which has absolutely no bearing on the actuarial factor of having to set premium prices at a level that will provide enough money to meet their obligation to have enough money in reserves to be able to pay out the claims they are obligated to cover over the next 6 months to a year. Insurance companies don't just willy nilly decide to start making their auto premiums super expensive. They see the ridiculous hyper litigious lawsuit environment in an area and have no choice but to raise auto premiums to ensure they have enough money in reserve to pay the ridiculous out of court settlements they have to give in to and have to reluctantly pay due to the limited time and manpower they have to fight each and every frivilous claim filed against them.
The trial lawyers don't care because they make bank while blaming the "greedy insurance companies" making "record profits" off the stock market which is basically the only mechanism insurance companies have to break even much less actually make a profit in the first place in any given year. Meanwhile, insurance companies have to fiduciary obligation to policyholders and their employees to spread the premium cost across the board enough to be able to pay the following year's claims and also to pay their employees and stay in business.
Posted on 4/23/25 at 10:10 am to TJG210
quote:
You can't ban free speech, even advertising, just cause it annoys the hell out of you.
I’m sure you can regulate what’s in it, though. No lottery winners or clear language what necessitated Wanda getting $500k.
Well, good point, they may be able to make them state what the client received AFTER attorney fees and costs. Hopefully, they do. No chance they can just limit the Lotto winner amount.
Posted on 4/23/25 at 10:16 am to Govt Tide
All I ever see are people dueling with dumbed-down slogans- "greedy trial lawyers have the system rigged" versus "greedy insurance companies have the system rigged and raise rates no matter what."
Nobody ever actually explains- is there anything that is actually different about the laws in Louisiana than someplace like Texas? And like I said before, Texas has huge verdicts sometimes.
I don't even know if insurance is cheaper in Texas. But if it is, and their laws are basically similar to ours, then what is the explanation?
I'm beginning to think that nobody actually knows the answer to this. Or anyone who does, won't say.
Nobody ever actually explains- is there anything that is actually different about the laws in Louisiana than someplace like Texas? And like I said before, Texas has huge verdicts sometimes.
I don't even know if insurance is cheaper in Texas. But if it is, and their laws are basically similar to ours, then what is the explanation?
I'm beginning to think that nobody actually knows the answer to this. Or anyone who does, won't say.
Posted on 4/23/25 at 11:11 am to ExtraGravy
The problem with industries as massive and as important as the insurance industry is that it's ripe for government and corporate collusion where everyone that profits off of it from trial lawyers, the lawyers defending insurance companies, federal and state government officials, as well as the insurance companies themselves.
The differences in insurance rates from state to state stem from the fact that while insurance is overall regulated at the federal level it's primarily regulated at the state level through each state's Department or Insurance. Insurance companies and trial lawyers have a lot more power at the state level to influence state laws and particularly the tort environment in each state which can have a major effect on rates in a given state.
Louisiana, unfortunately, has a perfect combination of issues that make insurance challenging in the state. Much of it due to things completely out of the state's control like having an incredibly fragile coastline and a major city that sits just below sea level which makes both extremely vulnerable to major hurricanes and catastrophic flooding. Again, things that are almost entirely out of the state's control.
Auto insurance premiums in a given area however are most heavily influenced by both the lawsuit environment in a given area as well as things like the number of uninsured drivers there are in an area and whether or not there are laws requiring mandatory auto liability insurance and what the minimum coverage amounts are.
The differences in insurance rates from state to state stem from the fact that while insurance is overall regulated at the federal level it's primarily regulated at the state level through each state's Department or Insurance. Insurance companies and trial lawyers have a lot more power at the state level to influence state laws and particularly the tort environment in each state which can have a major effect on rates in a given state.
Louisiana, unfortunately, has a perfect combination of issues that make insurance challenging in the state. Much of it due to things completely out of the state's control like having an incredibly fragile coastline and a major city that sits just below sea level which makes both extremely vulnerable to major hurricanes and catastrophic flooding. Again, things that are almost entirely out of the state's control.
Auto insurance premiums in a given area however are most heavily influenced by both the lawsuit environment in a given area as well as things like the number of uninsured drivers there are in an area and whether or not there are laws requiring mandatory auto liability insurance and what the minimum coverage amounts are.
Posted on 4/23/25 at 11:34 am to ExtraGravy
quote:
I don't even know if insurance is cheaper in Texas. But if it is, and their laws are basically similar to ours, then what is the explanation?
It’s cheaper than LA but still relatively high. So is GA and FL.
But when the issue is affordability you also need to take into account stats like average household income. So LA’s goal shouldn’t just be to not have the highest premiums but more like the US average. And that’s just for starters because LA’s avg income is at the bottom.
More populous states like those also have a better ability to do what the governor proposes our insurance commissioner do. LA just doesn’t have the same leverage when dictating its rates.
Posted on 4/23/25 at 11:50 am to In The Know
This is correct and will be the outcome if the insurance commissioner has the final authority to approve/decline rates. Insurance companies will simply say “why are we doing business here” and leave if they can’t turn a profit. Then ole Jeff will blame the insurance commissioner and fire him. It might seem like a decent idea but it will not work. Everyone knows the issue. The problem is the trial lawyers are simply too powerful and no governor will survive or will be elected without them. Until that changes (which is won’t anytime soon) then we are on a never ending cycle that will not get better. It’s unfortunate.
Posted on 4/23/25 at 1:44 pm to ragincajun03
Now show the claims paid vs other states.
Posted on 4/23/25 at 2:02 pm to tigerbait17
This whole thing reeks of Landry trying to create the illusion he is doing something effective when he knows damn well he isn't
This post was edited on 4/23/25 at 2:03 pm
Page 6 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News