The proposals include changes to rate regulation, tort law, and the authority of the insurance commissioner.
On May 21, the Senate approved its version of House Bill 148, which would expand the insurance commissioner's authority to reject rate filings considered excessive and require such filings to be made public. The measure has the backing of Governor Jeff Landry, who has argued that insurers' financial results in Louisiana outpace those in Florida and Texas. Insurance Commissioner Tim Temple (pictured above) has pushed back on that claim, saying loss ratios are not a direct measure of profitability.