Special Session to Fund Insure Louisiana Incentive Program

Jeff Albright

January 2023

The property insurance crisis in Louisiana will be one of the biggest issues in the legislature this year.

The legislature convened a Special Session on Monday, January 30th. Governor Edwards called the session with only one subject…funding the Insure Louisiana Incentive Program.

IIABL is asking the Louisiana Legislature to approve funding for the Insure Louisiana Incentive Program in the Special Session and consider additional insurance reforms in the Regular Session to improve the Louisiana insurance market environment to attract new insurance companies to our state.

The reality is that A M Best “A” rated Homeowners insurers are not going to return to the Louisiana market any time soon. The Insure Louisiana Incentive Program will attract some Demotech “A” rated coastal Homeowners insurers to ease our market problems in the short term, and it will encourage some companies already writing in the state to deploy additional capital and write more policies.