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Committee approves SCR requesting DOI study on market competitiveness after recent legislative actions
Summary
The committee adopted SCR 60 directing the Department of Insurance to study how recent legislative reforms affect market competitiveness in Louisiana’s insurance market and to report back by December 2026.
The Senate Insurance Committee on June 4 approved Senate Concurrent Resolution 60, which asks the Department of Insurance to study and report on the effect of legislative reforms enacted during the session on the competitiveness and condition of Louisiana’s insurance market.
Senator Myers, who introduced the SCR, said the study would collect data on new-carrier applications, admitted-carrier counts, rate filings, premium averages and complaint trends, and would use Verisk/ISO or S&P Global data where available. The resolution asks DOI to provide a report to the joint insurance committees and the legislature in December 2026 to show whether recent policy changes have improved market conditions and consumer outcomes.
Why it matters: Committee members said the SCR is intended to produce objective, longitudinal data to inform future policymaking, given ongoing concerns about insurer exits, rate spikes and consumer complaints in parts of the state.
Committee action: The committee reported SCR 60 favorable by voice vote and scheduled follow-up reporting. The resolution lists specific metrics — including application counts, admissions, rate increases and decreases, complaint data, product withdrawals, loss ratios and claims resolution times — that DOI should compile and analyze.
