Requests the Department of Insurance to study the issues of the availability and affordability of homeowners' insurance in coastal and intercoastal areas of the state
Impact
This resolution aims to establish a task force that will assess the factors affecting homeowners' insurance rates, particularly after the enactment of a state uniform construction code in 2005. The hope is that adherence to this construction code by homeowners could lead to more favorable conditions for insurers, resulting in increased coverage options and competitive premiums. By addressing these issues through a structured study, the resolution intends to inform the legislative process and potentially lead to legislative changes that could enhance insurance market conditions for residents in high-risk areas.
Summary
House Concurrent Resolution 211 (HCR211) urges the Louisiana Department of Insurance to conduct a comprehensive study regarding the availability and affordability of homeowners' insurance in the coastal and intercoastal regions of the state. The resolution highlights the pressing concerns that premiums for homeowners' insurance have significantly risen following events such as Hurricane Katrina in 2005. These areas continue to face difficulties in securing affordable insurance options, largely influenced by the risk associated with natural disasters and state regulations that affect insurers' willingness to operate in these regions.
Sentiment
The sentiment surrounding HCR211 appears largely supportive, reflecting a consensus that action is necessary to mitigate the insurance crisis faced by residents in vulnerable coastal parishes. Legislative discussions seem to favor the need for systematic study and insights gathered from industry stakeholders to ensure informed decisions can be made. Lawmakers recognize the dire implications for homeowners without affordable insurance, as this not only affects individual families but the economic stability of communities as well.
Contention
While there seems to be a general agreement on the necessity of studying insurance issues, potential contention could arise from differing opinions on how best to implement the findings. Some stakeholders in the insurance industry may resist changes that could lead to rate modifications, while consumer advocates might push for stronger protections for homeowners. The effectiveness of the proposed task force and its recommendations could be points of debate, as they may influence future legislative actions aimed at insurance reforms.
Requests the Dept. of Insurance to study the insurance industry and information used in determining the premiums of insureds who live in the coastal parishes
Requests the Louisiana Department of Insurance to conduct a comprehensive study on incentives and standard benchmarks for integration into the Louisiana Fortify Homes Program
Requests the Department of Revenue and the Department of Natural Resources, in consultation with the Legislative Auditor, to take all action necessary to collect oil and gas severance tax and mineral royalties and to establish procedures to verify the accuracy of payments and refunds thereof, all to be monitored by the Legislative Auditor and reported to the legislature. (OR1 SEE FISC NOTE GF RV)
Requests DHH to study the most effective means to ensure the proper utilization of inhalers by school nurses and report to the Senate and House Committees on Health and Welfare.
Directs the La. State Uniform Construction Code Council to report to the House Committee on Commerce a list of all changes made to the state uniform construction code since it was originally enacted by Act No. 12 of the 2005 1st Extraordinary Session of the La. Legislature
Urges and requests the adoption of a rehabilitation subcode pilot program within the state uniform construction code for participating downtown development districts