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Started By
Message
re: Gov. Landry targets auto insurers over high premiums, calls for greater oversight
Posted on 4/22/25 at 1:42 pm to In The Know
Posted on 4/22/25 at 1:42 pm to In The Know
quote:
Does this fool understand that no insurance company HAS to do business here?
So you think they walk away from that kind of profit? they wont.
Look, its not a state secret that (auto) insurers make the most money in "trial lawyer " states.
The constant inflamed state of everyone's butthole about trail lawyers and billboards make the masses more malleable to outrageous rate increases. "Well, they didnt want to have increase rates 60% this year but those pesky trial lawyers....."
5
Posted on 4/22/25 at 1:43 pm to Lakeboy7
Follow the Money on Landry he is highly Rentable on this
Posted on 4/22/25 at 1:45 pm to NIH
quote:
Not enough industry in Louisiana to completely ignore the Plaintiff’s bar anymore.
If they were kept in check, we’d at least have a chance at attracting others. Plaintiffs attorneys are a net loser on this state as it just robs from current companies/citizens and does nothing to bring in outside money. They are money vampires. They also serve to make everything more expensive, hurts property values, and are a general nuisance.
Posted on 4/22/25 at 1:46 pm to Tmcgin
quote:
Follow the Money on Landry he is highly Rentable on this
Yeah he is, and everything in the post above yours is true.
Posted on 4/22/25 at 1:46 pm to ragincajun03
He thinks we believe this. Even after the total voter rejection of basically his whole platform, he thinks we believe this.
Posted on 4/22/25 at 1:47 pm to soccerfüt
I found one of the insurance rate root causes:
This post was edited on 4/22/25 at 1:48 pm
Posted on 4/22/25 at 1:47 pm to TJG210
Lawsuits are probably number 10 on the list of reasons Louisiana is unattractive to business. Uneducated and unreliable workforce, unsafe cities with sub standard suburbs, shite public schools, corrupt politicians, hurricanes, etc. States like Tennessee, Texas, and Georgia are 30-40 years ahead of Louisiana.
This post was edited on 4/22/25 at 1:48 pm
Posted on 4/22/25 at 1:48 pm to Scruffy
quote:
Stop the lawsuits.
The ambulance chasers need to be reigned in.
Lawyers write the laws though.
Therefore, LA is fricked and will remain fricked.
FL had this issue with homeowners insurance, with contractors able to be "assigned the benefits" of claims, and the state accounted for nearly 70% of all US homeowners insurance lawsuits.
They were able to reform in like 2023, and rates have been steadily dropping in that state.
LA is the opposite in terms of auto insurance. Lawsuits are a loss leader when it comes to the industry, and as long as the culture of billboard lawyers reigns supreme in sportsman's paradise, rates will never decrease.
Posted on 4/22/25 at 1:49 pm to louisianamotocross
quote:
Did he mention how he is going to address this?
Apparently by blaming both the lawyers and the insurance companies.
Lawyers are driving rates up because they're ambulance chasers. Insurance companies are greedy on their profit margins.
If it were so easy for insurance companies to turn mega profits in LA, then we'd have companies lining up to do business here. But instead, its the opposite. Fix the fricked up legal system in this state and make it more attractive and less expensive for insurers to write here and increased competition will bring rates down.
This post was edited on 4/22/25 at 1:52 pm
Posted on 4/22/25 at 1:49 pm to ragincajun03
quote:
However, he acknowledged Louisiana leads the country in injury claims—a major factor behind rising premiums.
Oh, he got so close to removing Gordon McKernan's cock from his arse right here.
Posted on 4/22/25 at 1:53 pm to NIH
quote:
States like Tennessee, Texas, and Georgia are 30-40 years ahead of Louisiana.
Dude, those states are a century ahead of Louisiana.
The states that are 30-40 years ahead of Louisiana are Alabama, Mississippi, and Arkansas.
Posted on 4/22/25 at 1:55 pm to NIH
quote:
Lawsuits are probably number 10 on the list of reasons Louisiana is unattractive to business. Uneducated and unreliable workforce, unsafe cities with sub standard suburbs, shite public schools, corrupt politicians, hurricanes, etc. States like Tennessee, Texas, and Georgia are 30-40 years ahead of Louisiana.
Yeah......but what about the fishin an the gumbo???
Posted on 4/22/25 at 1:58 pm to Lakeboy7
quote:
The constant inflamed state of everyone's butthole about trail lawyers and billboards make the masses more malleable to outrageous rate increases. "Well, they didnt want to have increase rates 60% this year but those pesky trial lawyers....."
The state demands your vehicle is insured and at least to certain minimal amounts. You can’t simply elect to not carry ins. (Some do but it is “illegal”)
Posted on 4/22/25 at 1:59 pm to wadewilson
You are probably right. I was being nice.
Posted on 4/22/25 at 2:00 pm to Tiger Prawn
quote:
Insurance companies are greedy on their profit margins.
we are one of the least desirable states to write any line of business in. how can we have such a market that insurance companies can swim in their greed yet we can't even get companies to write business here. The two train of thoughts do not align.
Posted on 4/22/25 at 2:01 pm to NIH
quote:
reasons Louisiana is unattractive to business. Uneducated and unreliable workforce, unsafe cities with sub standard suburbs
Would you have a better workforce/safer cities/better suburbs IF people weren’t leaving in droves over the unsustainable property/auto insurance rates? Homeowners insurance makes a a lot of properties unaffordable. Now you have a fair number of people starting to self insure, which only lowers the risk pool and leaves insurers with a majority of high risk properties. How do you think that plays out?
Posted on 4/22/25 at 2:03 pm to TJG210
I think property insurance is a far bigger problem than auto insurance. You can shop around and get low limits with a crappy insurance company. People on the coast looking for property insurance are limited to few options at high rates.
Posted on 4/22/25 at 2:04 pm to TJG210
quote:No, and that is because of the following:
Would you have a better workforce/safer cities/better suburbs IF people weren’t leaving in droves over the unsustainable property/auto insurance rates?
quote:
Uneducated and unreliable workforce, unsafe cities with sub standard suburbs
Posted on 4/22/25 at 2:06 pm to NIH
quote:
I think property insurance is a far bigger problem than auto insurance. You can shop around and get low limits with a crappy insurance company. People on the coast looking for property insurance are limited to few options at high rates.
both are in absolute shitty spots. i wouldn't bother spending much time on which is worse.
Posted on 4/22/25 at 2:07 pm to BamaCoaster
quote:
Lawsuits are a loss leader when it comes to the industry, and as long as the culture of billboard lawyers reigns supreme in sportsman's paradise, rates will never decrease.
Your use of “loss leader” is way off. Insurers have to substantially increase premium to account for the higher percentage and likelihood of litigation on any vehicular collision. Whenever suit is filed it’s a lose/lose proposition for the insurance carrier. Carrier has to either pay legal fees and/or settlement in every litigation. Expenses are incurred regardless of fault or liability.
There needs to be some threshold to file a suit and a loser pays system.
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