Commissioner holding conference to update on insurance situation in Louisiana

BATON ROUGE – Insurance Commissioner Jim Donelon is hosting a meeting Tuesday to discuss the progress of the Insure Louisiana Incentive Program, put in place to combat the insurance crisis after multiple companies backed out of the Louisiana market in 2022. 

Joining Donelon will be Senate Insurance Committee Chair Kirk Talbot and House insurance Committee Chair Mike Huval. The speakers will announce which companies have applied to participate, how much funding has been requested, and the timeline for further implementation of the program. 

The Insure Louisiana Incentive Program was implemented to incentivize insurance companies to serve south Louisiana after over 80,000 customers were left uninsured in 2022. Three companies pulled out of the Louisiana market due to their inability to recover from Hurricane Ida damages. 

The conference will be held at 10:30 a.m.. This story will be updated with more details as they come.