Governor Edwards has called a special session to address the property insurance crisis

The session will begin on January 30 and will discuss the allocation of funds to an insurance fund that is expected to attract more insurance companies in the state.

LOUISIANA, USA – Louisiana Governor John Bel Edwards is calling a special meeting to begin on January 30 that will discuss attracting insurance companies to Louisiana by allocating more money to the Louisiana Insurance Incentive Fund.

According to a document issued by the Governor’s Office, the special meeting will be convened at noon on Monday, January 30 but will be postponed until 6 pm on Sunday. , February 5.

“Insurance Commissioner Jim Donelon has emphasized that the financing of the Louisiana Insurance Incentive Fund cannot wait until the regular meeting in April. I appreciate the cooperation of the President of the Senate and the Speaker and the legislature in calling this special meeting regarding this Fund,” Edwards said. in a statement.

Edwards said this is a necessary ordinance to help attract more insurance companies to a state that has been devastated by hurricanes in the past few years.

“This is just the first step in solving Louisiana’s insurance issues after the hurricane seasons of 2020 and 2021, a disaster exacerbated by hurricanes and wildfires in other states in 2022, ” said Edwards.

President Louisiana Senate Page Cortez said that although this solution cannot completely solve the crisis, it is an important first step because of the urgency of the situation.

“While a special session to fund the Louisiana Incentive Fund will not solve the issue of the availability and affordability of property insurance for our citizens, it is a short-term aid that can be the first step in a long term. solution,” said House Speaker Clay Schexnayder.

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