LA HSR1

House Ways and Means Committee and House Insurance Committee would meet as a joint committee to study the feasibility of establishing a Catastrophe Reinsurance Program using catastrophe bonds

Program would provide insurance companies an alternative method to secure reinsurance for property damage and casualty losses from hurricanes and other natural disasters in Louisiana

Joint committee must report findings to the legislature prior to January 31, 2026

Study prompted by Louisiana homeowners experiencing an insurance crisis with increasing rates and premiums becoming unaffordable due to recent hurricanes and catastrophic weather events

Joint committee directed to review similar programs adopted in other states affected by hurricanes, wildfires, and catastrophic flooding, and to gather input from insurance companies and other interested parties