Weekly Press Staff
NEW ORLEANS - Governor John Bel Edwards has expressed his willingness to discuss Temple's proposals to address the ongoing insurance challenges in Louisiana with incoming insurance commissioner Tim Temple.
Temple recently secured the position after the withdrawal of the sole opposing candidate, and the incumbent Insurance Commissioner, Jim Donelon, opted not to seek re-election this autumn. In a recent interview, Temple highlighted Louisiana's need to create a more hospitable environment for insurers and streamline regulatory processes.
When questioned about his stance on allowing insurers to adjust rates more frequently in the state, Temple emphasized the existing legal framework, stating, "The law permits insurance companies to request rate adjustments as frequently as they deem actuarially justified, non-excessive, adequate, and non-discriminatory. The current administration restricts such adjustments to once a year."
Responding to this proposal, Governor Edwards commented during his visit to New Orleans on Wednesday (Sept. 6), "Tim Temple is someone I've known for some time, and while he is serious and thoughtful, it doesn't necessarily mean all his ideas are right. I have reservations about some of his suggestions, which I believe could tilt the balance too much in favor of insurance companies and away from the insured individuals, the consumers in Louisiana, who have frequently felt underserved by their insurers. Nonetheless, I am open to sitting down with Tim and hearing his ideas."
Temple is advocating for a special legislative session in January to address insurance reform, with Governor Edwards, who has a few months remaining in office, committing to remain engaged in the issue even after leaving the governorship in January.
"As a Louisiana citizen and resident, I won't stop caring about this matter," Edwards asserted. "I hold homeowners' insurance so I will pay close attention. While some of Tim's proposals make sense, it's important to note that the legislature already considered and rejected certain ideas earlier this year."
This meeting between Governor Edwards and Commissioner-Elect Tim Temple represents a significant step in addressing Louisiana's insurance challenges, setting the stage for potentially transformative reforms in the state.