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LA HCSR1
CSR
Status
N/A
Primary Sponsor
Edmond Jordan
Click for details
AI Summary
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Requests House Committees on Ways and Means and Insurance and Senate Committees on Revenue and Fiscal Affairs and Insurance to form a joint committee to study establishing a Catastrophe Reinsurance Program in Louisiana
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The program would include issuing catastrophe bonds as an alternative method for insurance companies to secure reinsurance for property damage and casualty losses from hurricanes and natural disasters
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Joint committee must report findings to the legislature prior to January 31, 2026
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Study responds to Louisiana's ongoing insurance crisis marked by rising premiums and affordability concerns following recent hurricanes and catastrophic weather events
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Joint committee directed to gather input from insurance companies and review similar programs adopted in other states affected by hurricanes, flooding, and wildfires
Legislative Description
Provides for a study of the feasibility of establishing a Catastrophe Reinsurance Program which includes the issuance of catastrophe bonds to provide an alternative method for insurance companies to secure reinsurance to cover property damage and casualty losses
BONDS
Last Action
Withdrawn prior to introduction.
6/4/2025