Temple labored to go legislation which makes it simpler for insurers to terminate insurance policies and tougher for storm victims to file statements. His offer does practically nothing to lessen insurance prices. The truth is, it will allow insurers to raise costs extra often.
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The greater threat of extreme weather conditions is driving Louisiana's insurance crisis. There aren't any uncomplicated solutions, but point out regulators shouldn't make the problem even worse. Unfortunately, This is often precisely what Commissioner Tim Temple did in the course of the 2024 legislative session.If you have been at any time linked to an accident, and found to get at-fault Discover more for some other person’s bodily accidents, you can literally shed almost everything
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Below this system, carriers could go on to their policyholders the price of the reinsurance they invest in to guard by themselves. They may also “use Pc versions that job long term statements pitfalls” every time they request price hikes as opposed to depend upon the historic details they’ve been tied to.
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