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re: State Farm sets LA profit targets at more than double what it does in other states
Posted on 4/16/25 at 8:10 pm to brass2mouth
Posted on 4/16/25 at 8:10 pm to brass2mouth
quote:To be fair, Louisiana has a lot more low lying areas that are subject to flooding from storm surge and torrential rain. Most of the other coastal states gain elevation a lot quicker from their shoreline, so not as susceptible to those residents having their vehicles flooded.
I would like to see what their profit margin is for the rest of the states along the GoA with just as much, if not more, or a hurricane risk.
0
Posted on 4/16/25 at 8:12 pm to ExtraGravy
Attorneys across LA are shutting their pants about tort reform, claiming it’s all the insurance companies fault and placing any blame on them is misguided. Par for the course
This post was edited on 4/16/25 at 8:15 pm
Posted on 4/16/25 at 8:14 pm to doubleb
quote:
What percentage of profits do they project in Florida?
They don't write in FL.
Posted on 4/16/25 at 8:15 pm to Towelie
Yes they do, all day every day
Posted on 4/16/25 at 8:18 pm to brass2mouth
quote:No. Florida doesn’t need hurricane protection levees along their coastline because their land gains sufficient elevation quicker. LA has a lot of low lying land for a long ways inland. Most of south LA only exists because of the Mississippi River sediment building low lying land along our coast for thousands of years.
Pardon my ignorance, but isn’t our landscape pretty similar to Florida?
quote:Not anymore. But LA was late in the game to adopt the stronger building codes, so a big majority of the structures pre-date the newer codes. Compare homeowner insurance rates on a house thats built in the last 10 years vs a similar sized house in the same area that was built 20-30+ years ago.
Also, are our building codes that much behind Florida, MS, AL?
Posted on 4/16/25 at 8:25 pm to DCtiger1
quote:
Attorneys across LA are shutting their pants about tort reform, claiming it’s all the insurance companies fault and placing any blame on them is misguided. Par for the course
as opposed to the multiple other times “tort reform” was supposed to bring down rates but didn’t. God forbid we look at something else. Posted on 4/16/25 at 8:26 pm to DCtiger1
quote:
Yes they do, all day every day
Not on State Farm paper
Posted on 4/16/25 at 8:46 pm to Towelie
Yes they do, ask me how I know. Stop talking out of your arse
Posted on 4/16/25 at 8:46 pm to boosiebadazz
Oh look, the attorney
Posted on 4/16/25 at 8:54 pm to ExtraGravy
Don't know why Louisiana residents aren't violent over this. Like Luigi style.
This post was edited on 4/16/25 at 8:55 pm
Posted on 4/16/25 at 8:58 pm to PotatoChip
quote:
If insurance companies were making more in Louisiana, they wouldn’t all be leaving. If you start cracking down on fraudulent claims, we may see it go down some.
Yeah, but we know that won’t happen. Especially with Landry tabling/killing the latest attempt at tort reform
Posted on 4/16/25 at 9:01 pm to Oilfieldbiology
Look no further than California. They are staring down the barrel of catastrophe if they don’t approve the necessary rate and mitigate wildfire risks instead of caving to environmentalists
Posted on 4/16/25 at 9:04 pm to ExtraGravy
quote:God forbid a business try to stay solvent.
Interesting. In the rest of the country, State Farm gets by with a 6% profit margin. In Louisiana, they set it at 14%, citing our higher hurricane risk.
What we should do is have no insurance, or even better, have government red tape insurance. It'll be an absolute delight paying those taxes and dealing with those capable people.
Posted on 4/16/25 at 9:07 pm to brass2mouth
quote:
Pardon my ignorance, but isn’t our landscape pretty similar to Florida?
I think our landscapes are pretty different. Our entire southern half/portion was made from the MS River deposition. What is Florida’s land mostly made from? I’m unaware of the rivers in FL
Posted on 4/16/25 at 9:10 pm to ExtraGravy
They don’t even write homeowners in most of Southern LA…
Posted on 4/16/25 at 9:27 pm to DCtiger1
Bro, you sell insurance 
Posted on 4/16/25 at 9:30 pm to boosiebadazz
Dummy, Landry vetoed the most important legislation regarding reform that was passed last year.
Posted on 4/16/25 at 9:42 pm to boosiebadazz
I don’t sell anything bro, I own an agency. And so what?
Posted on 4/16/25 at 9:59 pm to DCtiger1
Posted on 4/16/25 at 10:18 pm to Oilfieldbiology
quote:
is Florida’s land mostly made from?
A good bit of it is limestone.
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