Louisiana’s Legislative Republicans wisely have launched a full-court press on tort reform, and must capitalize on the opportunity to build their case while exposing the fallacies of opponents that keep vehicle insurance rates artificially high.
This week, legislative committees dealing with insurance held interim meetings, after another round earlier this summer. Instigated by the supermajority-wielding GOP, these represent an attempt to gather data to make another run at tort reform after tepid 2020 legislation, watered down in response to objections by trial lawyer supporter Democrat former Gov. John Bel Edwards, seemingly has produced mixed results.
Trying to ascribe rate changes to policy is difficult because so many other factors may intervene. For example, Louisiana always will have upwards rate pressure because of its above-average propensity for natural disasters, compared to other states, which damages more vehicles.