INSURANCE REPORT: The Governor calls for a special session to budget the state’s insurance fund.

BATON ROUGE, Sun. (WGNO) — On Sunday (Jan 22.) Governor John Bel Edwards has called a special meeting to solve the current insurance crisis in Louisiana.

The meeting will discuss the use of funds in the Insurance Incentive Fund. The fund was created in the 2022 legislative session with the goal of attracting insurance companies to Louisiana.

“Insurance Commissioner Jim Donelon has emphasized that the financing of the Louisiana Insurance Incentive Fund cannot wait until the regular meeting in April. I am grateful for the cooperation of the President of the Senate and the Speaker and the legislature in calling this special meeting to focus on this Fund. While Commissioner Donelon says we need to do this now, this is only the first step in solving Louisiana’s insurance issues after the 2020 and 2020 hurricane seasons. 2021, an emergency due to hurricanes and wildfires in other states in 2022. We will continue to work. on this issue during the regular session that begins in April,” said Governor Edwards.

The meeting will convene at noon on Monday (Jan. 30) and adjourn no later than 6 pm on Sunday (Feb. 5).

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