IIABL STAFF

JEFF ALBRIGHT

Chief Executive Officer jalbright@iiabl.com

(225) 236-1366

BENJAMIN ALBRIGHT

Vice-President of Strategic Initiatives balbright@iiabl.com

(225) 236-1357

KAREN KUYLEN

Director of Accounting & Finance kkuylen@iiabl com

(225) 236-1353

JAMIE NEWCHURCH

Director of Insurance Programs jnewchurch@iiabl.com

(225) 236-1350

KATHLEEN O'REGAN

Director of Communications & Events koregan@iiabl.com

(225) 236-1360

BRANDI VAN PELT

Insurance Programs Administrator bvanpelt@iiabl.com

(225) 236-1358

DUSTIN WAMBSGANS

Agency Consultant dwambsgans@iiabl.com

(225) 236-1361

LISA YOUNG-CROOKS

Director of Member Relations lyoung@iiabl.com

(225) 236-1351

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July 2023

It’s safe to say that most people reading this newsletter are insurance industry professionals. So, it should come as no surprise to anyone reading this that we are currently experiencing a market crisis. Capacity is low, underwriting is extremely strict, and premiums have risen significantly. While this is the environment across the country, the situation in Louisiana is much worse than in most every other state.

Even our neighboring states, with whom we share many similarities including geographical disadvantages related to our propensity for catastrophic losses, are not facing the same level of market upheaval as we are right here at home. It begs the question, why?

There is a segment of our population that likes to lay the blame at the feet of the “Big, Bad, Insurance Companies.” But why are they only the “Big, Bad, Insurance Companies” here? Why are they able to make a go of it right next door?

Certainly, the biggest difference can be attributed to our legal system and the laws on our books. Louisiana has laws that do not exist anywhere else in the country. We also have versions of laws that differ in significantly worse ways than exist in other states.These bad laws drive up the number of claims and the cost per claim here at home. When that happens, carriers take notice and decide to use their resources in other places where ROI is better.It is simply business.

So, what can we, as an association, do to level the playing field? We must remain active in promoting good legislation, working to amend current legislation that needs change and killing newly introduced bad legislation before it gets on the books.

This kind of effort has always been a principal component of what IIABL has done. The staff is well respected at the Capitol, has great relationships and usually has immense success in