re: Tort reform bill just passed the house by a veto-proof majority, 72-28.

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So let’s put some numbers out there. In five years, rates should have gone down by ___% for the bill to be considered a success?

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We are, what, 40% above the national average? Trying to set an arbitrary target for x years seems a little disingenuous. How many years did it take rates for us to get 40% above the national average? (Serious question, as I don’t know.)

Seems like multiple consecutive years of rate decreases would be a “success”.

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Call it what it is. Grab bag by the insurance companies and if we see any net benefit to the economy then that’s lagniappe. Mike Foster told us the same thing before tort reform in the 90’s and the business community actually pushed for the higher jury threshold in the 70s to keep claims out of the hands of gullible Louisianans

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Calm your pinstripes and save some of the Louisiana Association of "Justice" felch for your ghetto bus stop billboard. What exactly are the insurance companies grabbing here? Everyone always talks about the insurance company, but no one ever wants to talk about the actual defendant, the insured who is just another citizen with rights, or a business helping drive the local economy. Screw them right. This kind of nonsense is why getting rid of direct action (on third party claims) is so important. And how old were you when Mike Foster was governor, like 5?

It won’t cut into my action. I’m fine taking cases to trial. It will cut into the Morris and Gordon’s of the world which is fine by me.

It will be chaotic for awhile while we find equilibrium and I’m skeptical we ever have significantly lower rates here in Louisiana.

Comprehensive insurance reform such as pre-approval of rate increases like best practices of cheaper states and outlawing some unfair underwriting practices was a no-go from the industry. That should tell you all you need to know about how serious they were about real reform

My practice will be fine. I think you guys may be a bit disappointed at what ultimately happens to rates

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expansion of the state economy, new businesses locating here due to a more favorable litigation climate, lower cost of goods and services, increase in the quality of our tax base,

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None of that will happen.

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None of that will happen.

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I hope none of that will happen.

FIFY.

Nobody actually believes this will lower insurance rates, right?

Unfair underwriting practices like using credit scores to determine rate? C’mon man, if they didn’t do that, they’d be out of business. Get real.

If this bill makes plaintiff attorneys this pissed, we’re doing something right. And as far as laying off thousands of lawyers- learn to code?

(no message)

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The jury threshold is an absolute killer and will have far reaching, catastrophic unintended consequences for the court system over the next decade. It is asinine.

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Why aren’t the other 49 states’ court systems dealing with far reaching, catastrophic unintended consequences?

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The people only concerned about lowering rates is baffling...

I assumed everyone in Louisiana knew at lease 1 person who got fricked by a predatory lawsuit. Hell, my parents lost umbrella coverage for years bc of one.

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Well, this was my first experience and it was technically my wife. They really fricked over the insurance company technically but we'll all be paying for it via higher rates.