How Insurance Works

High car insurance? Why Louisiana GOP lawmakers call tort reform a fix


3 DRIVER PAYS 23-HUNDRED DOLLARS A YEAR TO INSURE THEIR CARS. ONLY MICHIGAN DRIVERS PAY MORE. NBC LOCAL 33’S HARRISON GOLDEN EXPLAINS HOW STATE LAWMAKERS SAY THEY CAN HELP AND THE WORK STILL NEEDED. 3 AS THE CORONAVIRUS LEAVES FAMILIES AND BUSINESSES JUGGLING BILLS…”We have families now that are choosing between paying their auto insurance and paying their rent.”LOUISIANA’S MOST CONSERVATIVE REPUBLICAN LEGISLATURE EVER HAS BILLS OF ITS OWN.”This bill will help families because they won’t be required to pay as much for their insurance rates.”THAT’S THE IDEA OF STATE REPRESENTATIVE RAY GAROFALO’S BILL AS WELL AS ONE FROM STATE SENATOR KIRK TALBOT. THEIR GOAL IS TO SEND MORE CAR CRASH CASES TO JURIES RATHER THAN BULKY SETTLEMENTS THAT WOULD INSURANCE COMPANIES AND THEIR DRIVERS.”Fender-benders here cost lightyears more to settle than they do in other states, because we don’t allow juries in the courtroom, because the game is tilted to benefit a handful of trial lawyers who have made us all pay the bill on higher insurance bills”BUT CRITICS QUESTION WHETHER INSURERS WOULD SPREAD ANY SAVINGS FROM THESE BILLS ONTO POLICYHOLDERS. “It’s just going to make more money for insurance companies and give them all the power in deciding what to do with that money.”UNDER GAROFALO’S BILL INSURERS THAT DON’T LOWER RATES BY AT LEAST TEN PERCENT WOULD NEED TO SHOW THE STATE THAT THE CHANGES HAVEN’T SAVED THEM MONEY. BUT OPPONENTS SAY THAT WORDING GIVES INSURERS TOO MANY LOOPHOLES TO KEEP RATES THE SAME.”That’s why this is happening so quickly, in this session that’s so short, with so many members unable to come and unable to speak out against this.”THOUGH STEPHEN WAGUESPACK WITH THE LOUISIANA ASSOCIATION OF BUSINESS AND INDUSTRY ARGUES THESE BILLS ARE NOT SURPRISES BUT RATHER YEARS IN THE MAKING IN A QUEST TO KEEP DRIVERS FROM DRIVING TO OTHER STATES.”It’s time to draw a line in the sand. It’s time to stop that now.”STATE INSURANCE COMMISSIONER JIM DONELON PROJECTS THESE CHANGES WOULD SAVE DRIVERS 25 PERCENT ON INSURANCE RATES THOUGH HOW LONG THAT WOULD TAKE REMAINS UNCLEAR. HG, NBC L33 NEWS. 3 THE STATE HOUSE AND SENATE ARE POISED TO HOLD FULL VOTES ON THESE BILLS WITHIN THE NEXT TWO WEEKS. 3


Leave a Reply

Your email address will not be published. Required fields are marked *