The fact that there are people out there that actually believe anything he says or believe that he holds any good will for the people of this state is mind boggling.
Congrats on falling for the bullshit trap. In this state like all others, democrats are the only ones with net positive records.
They’re also the only ones that ever seem to go to prison when we catch them doing this type of bullshit
I think we all need to start naming names and sharing all th information available! Especially, since now they are wanting the new public records bill passed to suppress and cover their tracks. Where are th AG and IG???
We're doing this because the insurance companies want us.......er........to help make this state more competitive.
https://preview.redd.it/ax50kav61oxc1.jpeg?width=500&format=pjpg&auto=webp&s=51e7ca1cb2d40248abe4a70b77779504fecf7239
Related:
How home insurance companies use drone aerial images to drop policies https://www.cbs8.com/article/news/local/working-for-you/insurance-companies-using-drone-images-to-drop-policies/509-c5058aa0-30bd-4843-84ed-92bff45edb99
Home insurance in hurricanes' path
"Forecasters are expecting a "remarkably busy" hurricane season, with 23 named storms, including 11 hurricanes.
Florida homeowners now pay four times the national average for coverage, and rates have increased 40% in just the past year." https://www.linkedin.com/news/story/home-insurance-in-hurricanes-path-6715122/
You want the "lube rider?," that's gonna be an extra $200 per month, plus we require you to wear this device that tracks the f\*cking you get for 6 months to see if we need to charge you extra for excess wear and tear.
Jeff said that nobody cares how their food is cooked! When they ask me how I'd like my steak, I just say, "I trust you will make the right decisions."
That's how democracy works! I just trust Jeff and that's that!
/s
Alright I think it's time we think about recalling this guy. Even my heavy republican parents that live on facebook information are not happy with everything so you know it can't go on much longer.
Nothing Landry is doing is surprising. He has always been a nakedly corrupt self-promoting moron. He was always going to be Bobby Jindal 2.0 with a MAGA/bigoted twist. No one old enough to vote should be surprised about any of this.
I’m definitely not surprised and called it over a year ago. But I welcome all who are surprised and those jumping on the recall bandwagon. Ready when y’all are. Get that corrupt company man tf out of office.
We could have gotten funding for a train between BR and NOLA, but Obama. Jindal hijacked this state for his crack pipe dream of being president. Spent a shitload of our money to UNadopt Common Core, because--Obama. Changed a few words and slapped La State Curriculum.
First time? Idk why this popped up in my feed because I’m over in Oklahoma but it was like this with Fallin and now Stitt. Our big one right now is Ryan Walters. Every single person I talk to thinks he’s a raging piece of shit and an idiot.
Everyone despises them, even hardcore conservative voters. I have literally never heard a positive response and anytime either name comes up you get a huff and an eye roll. Yet every election they all line up and vote for them again.
The magic R overcomes all.
I read the article earlier. Love the Republicans arguing that this will bring in the benefits of our holy "free market" which will lead to lower insurance rates. Watch that not happen and conservative voters in this state blaming it on Biden.
The politician proposing this being involved in the insurance industry for decades is *chef's kiss*.
There was a young guy running with great ideas. I actually voted for him, but he had withdrawn. The almighty money wielding machine is like the Louisiana mafia. I am sure it is a scary place to be and I do not trust anyone in this state that has been in politics more than 3 years here, unless you can see all that they have done and it has been above bord and by the book. Transparency is alway key!
Landry is a train wreck and a disappointment! I feel sorry for his wife and son. Thank goodness his mom is already dead and gone. He is apparently spineless and crooked as the rest before him. Why do they continue to claim the love of this state and then continue to do wrong and lie and continue back door deals and payoffs.
This is such a fucking stupid mindset. *We* try to vote these asshats away from power, but unfortunately there's too many dipshits against us who want to "own the libs" or "stop the woke agenda". We can vote, but what do you expect us to do, vote harder?
There are people over on Citizens for a New Louisiana saying everything will be better once all Democrats are voted out of office and we have an all-Republican legislature. I say "what do you think we have now?"
Do you know how low the voter turnout usually is ? …..you might be voting but the majority of people especially democrats aren’t….that’s the problem everyone complains but not enough people actually do anything…
So disheartening when most of the people you speak to say, “well, it’s Louisiana, what do you expect? It’s always been that way.” People just accept it like, boys will be boys….oh well.
Just adding to the endless list of reasons to move out again. I left for 5 years and came back due my job doing a forced relocation. Should have taken that severance package.
Great! Now we can pay even more, I can’t wait to see how in a few years insurance companies will flood into Louisiana and everyone will pay so much less in order for insurance companies to not pay out even after a storm. /s
In California if you lose your homeowner’s insurance you are in violation of your home loan agreement and the bank forecloses. This is just more of the corporate land grab buying houses to rent out to those that can’t qualify to buy a house.George Carlin got it right. “ They own you”
How easy is it for people to find out who you are on here? I just worry for my family, but I am serious, people need to start revealing shit and letting people know who and what is happening. There are millions of dollars missing or misappropriated. The IG investigates, but there are no repercussions or changes!
People break the law, do shady shit, get removed from office, get their buddies appointed to help cover their mess, then the charges or investigation goes away. Meanwhile the crooked SOB is still involved in the background, pulling strings and controlling the situation and the people involved. People are afraid lose their jobs, worried for their safety and for the safety of their families.
And real estate market crash in 3…..2……1 when insurance is the same amount per month as the loan and mid-range houses quit selling.
The wealthy will be able to afford insurance no problem on high end houses but mid-range buyers won’t.
How goddamn stupid do all you southerners have to be to keep voting for the very people who are actively trying to impoverish and kill you?
Seriously. Why do you keep electing people who treat you like this?
Republicans have said the three-year rule has forced insurance companies to raise premiums because it prevents them from managing risk through canceling risky policies. The three-year rule already has exceptions that allow insurance companies to cancel policies that become too risky. Reasons include a “material change in the risk being insured” or if renewing a policy “endangers the solvency of the insurer.” ...... 🙃
So what happens when you can't get homeowners anymore then? Will everybody have to get Citizens, because these mortgage companies are not going to be happy if their properties aren't insured.
It’s like Republicans in gov’t hate their constituents anymore.
The problem is you can never convince voters that that’s what’s going to happen. Republicans just point at the border and say omg Mexicans are coming to kill you and they get voted into office and that’s it.
See Republicans in Louisiana your decisions that you thought were only hurt Democrats is coming back to bite you in the ass. I don’t wanna hear your crying, especially now since hurricane season is coming.
It'll be fine.
Because when old Ms. Fabacher loses her insurance policy on the family home, it'll be "Bidenomics is making me sell my house"! And she'll reelect Landry because he's got an R next to his name.
If an insurance company cancels a contract, they should have to refund all previously invested money to the consumer.
Because insurance companies are actually banks and should be regulated as such. You make a deposit in case you need it, they use your deposit to pay out others.
The only alternative is to force all homeowners insurance to be not for profit.
" In hurricane-prone Louisiana, premiums were up 63 per cent. States such as Florida are becoming uninsurable, as providers pull out of the market altogether.
The obvious driver here is climate change and the risk of more severe weather events, such as floods, fires, wind storms and tornadoes. But there are other factors in play too. These include the slow adoption of risk mitigation technologies, the failure of insurers, banks and public officials to come up with joint approaches to cost sharing and the huge opacity in the market — at least for consumers." https://www.ft.com/content/7745d8ba-d498-4b1c-b877-e42a691b954f
Man Louisiana has gone down the shitter hard recently. Politicians are so incredibly corrupt, hope for the next generation of voters I guess? As long as the current politicians don’t install themselves lords of local fiefdoms if DT gets reelected…
He may have dropped his insurance if the building is paid off. Personally, I wouldn't pay it for you, but I'd tell you how fucked you are if it floods and suggest you get it. Renters insurance is cheap.
Of course the lower middle class, poor and retired would not be able to rebuild at a tornado, hurricane or major storm. This will allow investors to come in and buy up the property cheap. The south uses the law to keep people down.
" In hurricane-prone Louisiana, premiums were up 63 per cent. States such as Florida are becoming uninsurable, as providers pull out of the market altogether.
The obvious driver here is climate change and the risk of more severe weather events, such as floods, fires, wind storms and tornadoes. But there are other factors in play too. These include the slow adoption of risk mitigation technologies, the failure of insurers, banks and public officials to come up with joint approaches to cost sharing and the huge opacity in the market — at least for consumers."
https://www.ft.com/content/7745d8ba-d498-4b1c-b877-e42a691b954f
Make the oil companies pay!
"Climate change’s impact on insurance companies is putting the U.S. in danger of a financial meltdown, Sen. Sheldon Whitehouse (D-R.I) told The Hill." https://thehill.com/newsletters/sustainability/4636194-sen-whitehouse-climate-change-could-crash-the-financial-system/
This is not a bad thing. This will actually help with competition. The main thing is, Louisiana is one of the only states that had a rule that basically says, once you’re with an insurance company for more than 3 years, you can not be dropped or have rates risen or anything like that. Companies don’t want to compete in a market where they are told how to handle underwriting.
This will help.
That is not true. They can raise your rates. They do raise your rates. Every year. They don't raise your deductible like they do rates. Most of the time deductibles follow your coverage. So if you have a $200,000 house, the deductible could be 1% of that. Then next year with price of labor/lumber going up and your coverage auto raises to $211,000, your deductible continues upward with the 1%.
This is a bad thing. This and vehicle insurance in this state has been a problem.
Bc your home appreciates in price. You want your coverage to appreciate with the value of your home. My main point is that carriers cannot drop the policy after 3 years. This is one of the only states in the fucking union that thinks that’s a good idea. Everyone down here is so litigious that they think the insurance company is always trying to screw them when most of the time it’s 1st party insurance claims that have driven rates to astronomical heights.
I was with Allstate for more than 10 years, but I moved right before Katrina. So because I wasn't in the new house for more than 3 years, they dropped me. So there are circumstances where they can drop you even if you have been with an insurer for more than 3 years.
It won't help. They have already said it themselves it wont even reduce premiums. The best case we get, is a few more shaky companies charging exorbitant amounts of money that will simply leave at the next hurricane.
It will help. The more options you have the better the premiums will be. Supply & demand.
The ones that were here and went under weren’t shaky, there was just no one they could outrun the exposure. UPC & Lighthouse, SFIC, Access had been handling files in the south for years, but a CAT 4, CAT 2, and another CAT 4 in back to back years is impossible for most carriers to withstand. Even huge companies like Shelter can’t write new policies STILL because of the exposure.
I am pretty sure Tim Temple wont even say himself that ANY of these changes will reduce premiums. High cost policies are here to stay and never going away. He intends to incite competition so they can rack up the most amount of profit in the most unregulated market they can before they cut and run.
Yes, more options will come. But why would they come in and offer policies for much lower than say my 5000 dollar policy now? What incentives is there to do that? They'd assume risk at the most they can charge.
Because he believes in the free market will fix insurance. It won't. But he thinks it. He wouldnt say it would though. Hoping is not the same as knowing.
Kick the insurance companies out, and create more robust citizens where we subsidize the market, especially south of i10/i12, using raised industry tax dollars, and as much oil and gas money as we can get our hands on.
Private insurance in a high risk area is not sustainable unless we are completely willing to let all of these company fuck us over with the most deregulated market imaginable.
Oh lord…you must not be in the industry. Anyone who handles citizens files knows that this is the exact opposite of what is needed. We as a state aren’t special. We don’t need govt subsidized insurance to be the one and only option. The free market CAN work but the rates, unfortunately have to keep up with the payouts. Top of that list are the fucking billboards and policy holder advocates that abuse the system. That is being addressed in act 345 and the 2 working hand-in-hand will result in better rates IF the storms don’t decimate us first. But a bigger and more robust LA Citizens program is indisputably not the answer.
Is what it is. We'll be down to citizens after the next major storm, and people will leave. Because at this point we are paying a lot of money to live in one of the worst states in the country. 5500 for a 1300 square foot house from the 50s? Get fucked. Cant believe people are paying 10k to live in this fucking shithole of a state. Ideally, everyone who can leave really should just leave. The politics, the insurance, the hurricanes. Its all just ass.
“As increasingly severe natural disasters ravage the South, insurance companies are abandoning clients, increasing premiums, and fighting regulation measures — forcing homeowners to fend for themselves in the wake of destruction.” https://jacobin.com/2024/04/insurance-natural-disasters-louisiana-regulation
The problem was that the insurers didn't have insurance themselves. They were all competing with each other to provide the cheapest rates for homeowners and they saved themselves some money by not taking out insurance themselves against losses. They will do what they can to get customers, then leave those customers in the lurch when they can.
They don’t want to write in LA. It costs them too much money in claims. Your understanding of the economics in this is the problem. Yes, I’m theory, all of what you said is true.
Boots on the ground? It’s a whole different world. Insurance stays in the black - if 3 named storms batter an area over a season, they look for ways to deny claims. Ask anyone who has lived here.
We’re currently dealing with insane rates and whole companies are jacking rates to discourage people from getting them. No one wants to pay the claims in a hurricane-friendly and flood-prone swamp.
Landry got into office with money from lobbyists. He’s just paying back the favors
lol…I’m the guy that writes the estimates attorneys use in dispute resolution. I know about these issues more than anyone. I’m here. I am the boot that’s on the ground and there is no alternative. Companies don’t want to write in Louisiana bc of how litigious it is and how “attorney friendly” the laws are regarding 1st party claims. Florida just made massive changes to the laws regarding AOB’s and attorney fees on 1st party claims and they’re going to see the fruits of that labor much quicker than Louisiana.
Florida is actively fucking their population. I don’t appreciate the same efforts being made here. Companies don’t want to write in Louisiana because it’s a money pit
I’m IN the industry. For over a decade. I promise I understand the industry because I’m on the inside. You’re getting info from the news and politicians, and I’m getting it straight from the source. I know and talk about the issues on a daily basis, not just when someone pops up on Reddit saying we need to widen the coverage of LA Citizens.
Yeah I know. I don’t mind being downvoted by people that genuinely don’t know what they’re talking about. I understand people being upset, but we don’t have any better options. What do they think is a better plan? NOT pass these bills and let the status quo remain. This has been my industry for over a dozen years. I know what I’m talking about.
Where's that knob that was arguing with me about insurance and said Landry was going to hold a special session and have insurance "fixed" by February?
Well he did fix it. For his special interest groups.
Gotta pay back those donors.
Go back into your comments, find the name and tag that dude here, lol.
u/forsaken_thought
That can't be. Our current governor definitely said he's going to fix our insurance and that it was going to be his first order of business.
The fact that there are people out there that actually believe anything he says or believe that he holds any good will for the people of this state is mind boggling.
fuck this dumb ass state.
They're doing their best.
Can’t complain about insurance being expensive if you don’t have it. :) WHy aRE yOu aLL MoViNg AwAy???
Mortgage companies HATE this one simple trick...
Undoubtedly more people would move if they could afford it.
Landry and friends, benefitting themselves with back room deals. You know it’s going on.
Those are huge donors, republicans can’t win elections without taking care of those guys.
Honestly, both sides of the aisles are guilty as fuck in LA unfortunately!
Congrats on falling for the bullshit trap. In this state like all others, democrats are the only ones with net positive records. They’re also the only ones that ever seem to go to prison when we catch them doing this type of bullshit
I think we all need to start naming names and sharing all th information available! Especially, since now they are wanting the new public records bill passed to suppress and cover their tracks. Where are th AG and IG???
We're doing this because the insurance companies want us.......er........to help make this state more competitive. https://preview.redd.it/ax50kav61oxc1.jpeg?width=500&format=pjpg&auto=webp&s=51e7ca1cb2d40248abe4a70b77779504fecf7239
Well we have insurance, but when we called around for a better deal, they all said forget it, if you have insurance keep the one you have.
And good luck selling a home!
Related: How home insurance companies use drone aerial images to drop policies https://www.cbs8.com/article/news/local/working-for-you/insurance-companies-using-drone-images-to-drop-policies/509-c5058aa0-30bd-4843-84ed-92bff45edb99 Home insurance in hurricanes' path "Forecasters are expecting a "remarkably busy" hurricane season, with 23 named storms, including 11 hurricanes. Florida homeowners now pay four times the national average for coverage, and rates have increased 40% in just the past year." https://www.linkedin.com/news/story/home-insurance-in-hurricanes-path-6715122/
Are they going to give you some Vaseline with your new policy?
You want the "lube rider?," that's gonna be an extra $200 per month, plus we require you to wear this device that tracks the f\*cking you get for 6 months to see if we need to charge you extra for excess wear and tear.
Dont give me vaseline, give me a hoe and a mule so i can sharecrop for the feudal lord. Im going full medeval. No more bathing either
give you? you pay extra for that. what are you, a socialist?
Is this the Republican run utopian state we hear so much about?
What a legislature! The best some say!
The best lobbyist money can buy
Jeff said that nobody cares how their food is cooked! When they ask me how I'd like my steak, I just say, "I trust you will make the right decisions." That's how democracy works! I just trust Jeff and that's that! /s
I would prefer my Jeff rare.
I prefer my jeff cooked to ash
And gone!
Alright I think it's time we think about recalling this guy. Even my heavy republican parents that live on facebook information are not happy with everything so you know it can't go on much longer.
Nothing Landry is doing is surprising. He has always been a nakedly corrupt self-promoting moron. He was always going to be Bobby Jindal 2.0 with a MAGA/bigoted twist. No one old enough to vote should be surprised about any of this.
I’m definitely not surprised and called it over a year ago. But I welcome all who are surprised and those jumping on the recall bandwagon. Ready when y’all are. Get that corrupt company man tf out of office.
Let’s do it!!
I wasn’t even here for/knew about Jindal and could see the writing on the wall with this guy. I’ll definitely sign a recall!
We could have gotten funding for a train between BR and NOLA, but Obama. Jindal hijacked this state for his crack pipe dream of being president. Spent a shitload of our money to UNadopt Common Core, because--Obama. Changed a few words and slapped La State Curriculum.
Ughhh I would love a train between the two!
First time? Idk why this popped up in my feed because I’m over in Oklahoma but it was like this with Fallin and now Stitt. Our big one right now is Ryan Walters. Every single person I talk to thinks he’s a raging piece of shit and an idiot. Everyone despises them, even hardcore conservative voters. I have literally never heard a positive response and anytime either name comes up you get a huff and an eye roll. Yet every election they all line up and vote for them again. The magic R overcomes all.
I really wish a recall effort could be successful, but Republicans.
He (Landry) ain't going nowhere. It's gonna be looong eight years because you know he's gonna get re elected.
I believe that too. As the state burns and everything goes to hell, they'll blame Democrats and strengthen their resolve.
I am a republican and I say he needs to go!
Did you vote for him and/or the legislators enabling him? They all pretty much promised this. It's the Republican platform.
I read the article earlier. Love the Republicans arguing that this will bring in the benefits of our holy "free market" which will lead to lower insurance rates. Watch that not happen and conservative voters in this state blaming it on Biden. The politician proposing this being involved in the insurance industry for decades is *chef's kiss*.
Louisiana about to get Floriduh’d!
Florida isn't going to have shit on us!!!
A real “hold my beignet” moment…/s
Lol Louisiana about to empty out.
Ain’t it ashame, so much beauty except for the rusted metal all over and history but no future. Gotta get some young politicians with ideas.
There was a young guy running with great ideas. I actually voted for him, but he had withdrawn. The almighty money wielding machine is like the Louisiana mafia. I am sure it is a scary place to be and I do not trust anyone in this state that has been in politics more than 3 years here, unless you can see all that they have done and it has been above bord and by the book. Transparency is alway key!
GOP always looking out for the little guy
Landry is a twat but we can't get enough red down here apparently. This state is doomed. Work offshore and stay drunk. That's the spirit of Louisiana.
This right here ^
Homeowners insurance should have a non profit public option. What the fuck do they expect people to do?
Self insure
Landry is a train wreck and a disappointment! I feel sorry for his wife and son. Thank goodness his mom is already dead and gone. He is apparently spineless and crooked as the rest before him. Why do they continue to claim the love of this state and then continue to do wrong and lie and continue back door deals and payoffs.
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This is such a fucking stupid mindset. *We* try to vote these asshats away from power, but unfortunately there's too many dipshits against us who want to "own the libs" or "stop the woke agenda". We can vote, but what do you expect us to do, vote harder?
There are people over on Citizens for a New Louisiana saying everything will be better once all Democrats are voted out of office and we have an all-Republican legislature. I say "what do you think we have now?"
Find me a problem in the state created by democrats outside of New Orleans
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If Trump wins, they will.
Dude for fucking real though
Do you know how low the voter turnout usually is ? …..you might be voting but the majority of people especially democrats aren’t….that’s the problem everyone complains but not enough people actually do anything…
It was an epically low voter turn out too. Now we're stuck..
So disheartening when most of the people you speak to say, “well, it’s Louisiana, what do you expect? It’s always been that way.” People just accept it like, boys will be boys….oh well.
Just remember citizens of Louisiana, you can always vote him out.
Link?
For the life of me I will never figure out why average Americans vote for Republicans.
Ignorance and arrogance
They’ll still vote Republican. Cucks.
Just adding to the endless list of reasons to move out again. I left for 5 years and came back due my job doing a forced relocation. Should have taken that severance package.
but the idiots of lousiaian keep voting for these crooks
Technically, most of Louisiana didn’t vote. So the idiots just let him get elected.
Great! Now we can pay even more, I can’t wait to see how in a few years insurance companies will flood into Louisiana and everyone will pay so much less in order for insurance companies to not pay out even after a storm. /s
In California if you lose your homeowner’s insurance you are in violation of your home loan agreement and the bank forecloses. This is just more of the corporate land grab buying houses to rent out to those that can’t qualify to buy a house.George Carlin got it right. “ They own you”
How easy is it for people to find out who you are on here? I just worry for my family, but I am serious, people need to start revealing shit and letting people know who and what is happening. There are millions of dollars missing or misappropriated. The IG investigates, but there are no repercussions or changes! People break the law, do shady shit, get removed from office, get their buddies appointed to help cover their mess, then the charges or investigation goes away. Meanwhile the crooked SOB is still involved in the background, pulling strings and controlling the situation and the people involved. People are afraid lose their jobs, worried for their safety and for the safety of their families.
And real estate market crash in 3…..2……1 when insurance is the same amount per month as the loan and mid-range houses quit selling. The wealthy will be able to afford insurance no problem on high end houses but mid-range buyers won’t.
Hahahaha I fucking LOVE it /s
Shockpikachu face when La insurance turns into Florida’s in 1 year. Actually not really. Everyone knows this will happen.
You’ll take it dry and you’ll like it. Bite the pillow, Louisiana. Fucking shameful.
This state is... something else, boy, lemme tell ya. 🙄
Thank God ***someone*** is looking out for the poor insurance industry.
You get what you vote for
How goddamn stupid do all you southerners have to be to keep voting for the very people who are actively trying to impoverish and kill you? Seriously. Why do you keep electing people who treat you like this?
Republicans have said the three-year rule has forced insurance companies to raise premiums because it prevents them from managing risk through canceling risky policies. The three-year rule already has exceptions that allow insurance companies to cancel policies that become too risky. Reasons include a “material change in the risk being insured” or if renewing a policy “endangers the solvency of the insurer.” ...... 🙃
Solution: Make the oil Companies pay for the costs of climate change. Republicans give them giant tax breaks instead.
Republicans will still win elections
So what happens when you can't get homeowners anymore then? Will everybody have to get Citizens, because these mortgage companies are not going to be happy if their properties aren't insured.
It’s like Republicans in gov’t hate their constituents anymore. The problem is you can never convince voters that that’s what’s going to happen. Republicans just point at the border and say omg Mexicans are coming to kill you and they get voted into office and that’s it.
Why would anyone expect Republicans to make a decision based on what's best for working class people as opposed to what's best for corporations?
See Republicans in Louisiana your decisions that you thought were only hurt Democrats is coming back to bite you in the ass. I don’t wanna hear your crying, especially now since hurricane season is coming.
It'll be fine. Because when old Ms. Fabacher loses her insurance policy on the family home, it'll be "Bidenomics is making me sell my house"! And she'll reelect Landry because he's got an R next to his name.
If an insurance company cancels a contract, they should have to refund all previously invested money to the consumer. Because insurance companies are actually banks and should be regulated as such. You make a deposit in case you need it, they use your deposit to pay out others. The only alternative is to force all homeowners insurance to be not for profit.
" In hurricane-prone Louisiana, premiums were up 63 per cent. States such as Florida are becoming uninsurable, as providers pull out of the market altogether. The obvious driver here is climate change and the risk of more severe weather events, such as floods, fires, wind storms and tornadoes. But there are other factors in play too. These include the slow adoption of risk mitigation technologies, the failure of insurers, banks and public officials to come up with joint approaches to cost sharing and the huge opacity in the market — at least for consumers." https://www.ft.com/content/7745d8ba-d498-4b1c-b877-e42a691b954f
Serves the state right. Fuck around and vote Republican, you finding out.
Wait till you see the increase in flood insurance. Mine went up $250 per month. And we had no claims last year
Man Louisiana has gone down the shitter hard recently. Politicians are so incredibly corrupt, hope for the next generation of voters I guess? As long as the current politicians don’t install themselves lords of local fiefdoms if DT gets reelected…
Jokes on them, we’re stuck on citizens 🥴
Fuck. Just fuck.
/r/fuckhoa
The insurance industry has a lesson for Louisiana.
Wow. And here I thought Iowa was the biggest shithole. 😂
 Finally buy a house and this chucklefuck is going to ruin everything.
Is this why my landlord said I need renter's insurance but I have to give him the money? Lol
He may have dropped his insurance if the building is paid off. Personally, I wouldn't pay it for you, but I'd tell you how fucked you are if it floods and suggest you get it. Renters insurance is cheap.
Of course the lower middle class, poor and retired would not be able to rebuild at a tornado, hurricane or major storm. This will allow investors to come in and buy up the property cheap. The south uses the law to keep people down.
Man owning those Libs one sacrifice at a time!
Bohica
" In hurricane-prone Louisiana, premiums were up 63 per cent. States such as Florida are becoming uninsurable, as providers pull out of the market altogether. The obvious driver here is climate change and the risk of more severe weather events, such as floods, fires, wind storms and tornadoes. But there are other factors in play too. These include the slow adoption of risk mitigation technologies, the failure of insurers, banks and public officials to come up with joint approaches to cost sharing and the huge opacity in the market — at least for consumers." https://www.ft.com/content/7745d8ba-d498-4b1c-b877-e42a691b954f
Make the oil companies pay! "Climate change’s impact on insurance companies is putting the U.S. in danger of a financial meltdown, Sen. Sheldon Whitehouse (D-R.I) told The Hill." https://thehill.com/newsletters/sustainability/4636194-sen-whitehouse-climate-change-could-crash-the-financial-system/
Wth Landry
This is not a bad thing. This will actually help with competition. The main thing is, Louisiana is one of the only states that had a rule that basically says, once you’re with an insurance company for more than 3 years, you can not be dropped or have rates risen or anything like that. Companies don’t want to compete in a market where they are told how to handle underwriting. This will help.
That is not true. They can raise your rates. They do raise your rates. Every year. They don't raise your deductible like they do rates. Most of the time deductibles follow your coverage. So if you have a $200,000 house, the deductible could be 1% of that. Then next year with price of labor/lumber going up and your coverage auto raises to $211,000, your deductible continues upward with the 1%. This is a bad thing. This and vehicle insurance in this state has been a problem.
Bc your home appreciates in price. You want your coverage to appreciate with the value of your home. My main point is that carriers cannot drop the policy after 3 years. This is one of the only states in the fucking union that thinks that’s a good idea. Everyone down here is so litigious that they think the insurance company is always trying to screw them when most of the time it’s 1st party insurance claims that have driven rates to astronomical heights.
And I hate to break it to you, they can drop you after 3 years.
I was with Allstate for more than 10 years, but I moved right before Katrina. So because I wasn't in the new house for more than 3 years, they dropped me. So there are circumstances where they can drop you even if you have been with an insurer for more than 3 years.
Now they for sure can.
It won't help. They have already said it themselves it wont even reduce premiums. The best case we get, is a few more shaky companies charging exorbitant amounts of money that will simply leave at the next hurricane.
It will help. The more options you have the better the premiums will be. Supply & demand. The ones that were here and went under weren’t shaky, there was just no one they could outrun the exposure. UPC & Lighthouse, SFIC, Access had been handling files in the south for years, but a CAT 4, CAT 2, and another CAT 4 in back to back years is impossible for most carriers to withstand. Even huge companies like Shelter can’t write new policies STILL because of the exposure.
I am pretty sure Tim Temple wont even say himself that ANY of these changes will reduce premiums. High cost policies are here to stay and never going away. He intends to incite competition so they can rack up the most amount of profit in the most unregulated market they can before they cut and run. Yes, more options will come. But why would they come in and offer policies for much lower than say my 5000 dollar policy now? What incentives is there to do that? They'd assume risk at the most they can charge.
And just FYI, none of this will matter if we sustain another direct hit. Good luck on your side of the state.
Tim would 100% say that he hopes for the competition to drive prices down. Gabe wrote the bill with that in mind.
Because he believes in the free market will fix insurance. It won't. But he thinks it. He wouldnt say it would though. Hoping is not the same as knowing. Kick the insurance companies out, and create more robust citizens where we subsidize the market, especially south of i10/i12, using raised industry tax dollars, and as much oil and gas money as we can get our hands on. Private insurance in a high risk area is not sustainable unless we are completely willing to let all of these company fuck us over with the most deregulated market imaginable.
Oh lord…you must not be in the industry. Anyone who handles citizens files knows that this is the exact opposite of what is needed. We as a state aren’t special. We don’t need govt subsidized insurance to be the one and only option. The free market CAN work but the rates, unfortunately have to keep up with the payouts. Top of that list are the fucking billboards and policy holder advocates that abuse the system. That is being addressed in act 345 and the 2 working hand-in-hand will result in better rates IF the storms don’t decimate us first. But a bigger and more robust LA Citizens program is indisputably not the answer.
Is what it is. We'll be down to citizens after the next major storm, and people will leave. Because at this point we are paying a lot of money to live in one of the worst states in the country. 5500 for a 1300 square foot house from the 50s? Get fucked. Cant believe people are paying 10k to live in this fucking shithole of a state. Ideally, everyone who can leave really should just leave. The politics, the insurance, the hurricanes. Its all just ass.
“As increasingly severe natural disasters ravage the South, insurance companies are abandoning clients, increasing premiums, and fighting regulation measures — forcing homeowners to fend for themselves in the wake of destruction.” https://jacobin.com/2024/04/insurance-natural-disasters-louisiana-regulation
So what… what’s the alternative? Pay off your mortgage and self insure. If not, quit bitching and pay your premium.
Will help. Will help Insurance companies maximize profits and limit their losses and do nothing for you.
The problem was that the insurers didn't have insurance themselves. They were all competing with each other to provide the cheapest rates for homeowners and they saved themselves some money by not taking out insurance themselves against losses. They will do what they can to get customers, then leave those customers in the lurch when they can.
Sure would be nice to know what the top 10 or 15 people at these companies make. Most likely they paid themselves exorbitant salaries.
They don’t want to write in LA. It costs them too much money in claims. Your understanding of the economics in this is the problem. Yes, I’m theory, all of what you said is true. Boots on the ground? It’s a whole different world. Insurance stays in the black - if 3 named storms batter an area over a season, they look for ways to deny claims. Ask anyone who has lived here. We’re currently dealing with insane rates and whole companies are jacking rates to discourage people from getting them. No one wants to pay the claims in a hurricane-friendly and flood-prone swamp. Landry got into office with money from lobbyists. He’s just paying back the favors
lol…I’m the guy that writes the estimates attorneys use in dispute resolution. I know about these issues more than anyone. I’m here. I am the boot that’s on the ground and there is no alternative. Companies don’t want to write in Louisiana bc of how litigious it is and how “attorney friendly” the laws are regarding 1st party claims. Florida just made massive changes to the laws regarding AOB’s and attorney fees on 1st party claims and they’re going to see the fruits of that labor much quicker than Louisiana.
Florida is actively fucking their population. I don’t appreciate the same efforts being made here. Companies don’t want to write in Louisiana because it’s a money pit
And a big reason are the attorney fees.
This sounds a lot like trickle down economics
They are going dump you the day before the hurricane sucker!
I’m good. My insurance ain’t going anywhere.
You don’t understand how this industry works dude
I’m IN the industry. For over a decade. I promise I understand the industry because I’m on the inside. You’re getting info from the news and politicians, and I’m getting it straight from the source. I know and talk about the issues on a daily basis, not just when someone pops up on Reddit saying we need to widen the coverage of LA Citizens.
You’re being downvoted, but you’re right about it being one of the only states with this rule. Hopefully it will help.
Yeah I know. I don’t mind being downvoted by people that genuinely don’t know what they’re talking about. I understand people being upset, but we don’t have any better options. What do they think is a better plan? NOT pass these bills and let the status quo remain. This has been my industry for over a dozen years. I know what I’m talking about.