As Louisiana Insurance Rates Rise, A Key Statewide Race Heats Up

Louisiana Insurance Commissioner Jim Donelon hasn’t announced whether he will seek re-election in 2023, but if he does, he will face a familiar opponent.

Tim Temple, who spent $2 million of his own money in 2019 and received nearly 47 percent of the vote, announced Monday that he would run for the job again in 2023. He was Donelon’s only opponent in 2019.

Citing rising insurance rates across the state, including a 63 percent increase in homeowners’ insurance rates signed by Donelon himself, Temple points to the need for new leadership at the office.

“Over the past 17 years,” Temple said in his announcement, “Louisiana auto rates have risen to some of the most expensive in the country, while more recently we’ve seen an explosion in homeowner rates and a proliferation of attorneys promising quick claims settlements.” and loosely regulated public claims adjusters.”

“Just last week, the current commissioner approved a 63% increase in homeowners’ insurance rates,” added Temple. “Continuing to reuse old plans altogether ignores the real problems and shortcomings, and these problems are too serious to ignore. More than ever, Louisiana needs an insurance commissioner with insurance industry experience who is honest, transparent and accountable and who puts the people of this state before insurance companies.”

Plant-Jim Donelon Insurance Commissioner of Louisiana

Photo credit: Louisiana Department of Insurance

As USA Today Network’s Greg Hillburn notes, Donelon signed the rate hike, but he didn’t have much of a choice on the matter.

By law, citizen rates must be 10% above the highest market rate in each municipality or the actuarial rate, whichever is higher. Citizens offers insurance to homeowners who cannot secure protection in the private market.

During the 2023 campaign, Temple said that Donelon “fell asleep at the wheel” on state insurance issues.

Donelon first assumed the role of Insurance Commissioner in February 2006. Prior to that, he was Deputy Commissioner of Insurance for the Louisiana Department of Insurance under then-Commissioner of Insurance J. Robert Wooley.

The top news for the week of October 10th

The top news at KPEL over the last week.

Armed robberies across Acadiana in 2022

Among the crimes that made headlines in 2022, armed robbery is among the most common.

Armed robberies – when they are becoming increasingly common in a community – steal the peace from the citizens who live there. These crimes can begin with a thief trying to steal the victim, but often that thief turns into a murderer when that weapon is actually used.

Let’s take a look at some headline-grabbing armed robbery cases in 2022.

https://kpel965.com/louisiana-insurance-rates-rise-statewide-race/ As Louisiana Insurance Rates Rise, A Key Statewide Race Heats Up

Linh

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