The insurance industry is fighting measures in the Louisiana Legislature that would extend Hurricane Katrina claim-filing periods and repeal flex rating.
“The ability to stabilize the state's insurance marketplace following Hurricanes Katrina and Rita is being threatened by legislation that would saddle insurers with excessive regulation, increase litigation and significantly impair their ability to conduct business,” complained Greg LaCost, assistant vice president and regional manager for PCI.
With the current session due to end June 19, none of the major insurance bills have been sent to the governor's office. But there are several bills that have passed one chamber.
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