If you remember our blog post from this past February, Why is Auto Insurance so Much Higher in the State of Louisiana, then you are probably familiar with the fact that the Independent Insurance Agents & Brokers of Louisiana (IIABL) has been persistent and dedicated to passing a very meaningful tort reform for the state of Louisiana. For the past 3 years, passing this tort reform has been a work in progress and an important goal for the IIABL. This past May all the work towards achieving that goal proved itself worthwhile. On May 12th, lawmakers finally agreed to advance two tort reforms bills that are supported by the IIABL.
By passing this tort reform, a significant and positive impact can now be made towards Louisiana's automobile insurance market. The two tort reform bills will help improve the market and reduce premiums which in return, helps cut back on how many bodily injury claims and lawsuits are made. According to the IIABL, the bills also help lower Louisiana's jury threshold, end the collateral source rule, remove the direct action statue, extend the prescriptions for tort actions (for motor vehicle accidents only), eliminate the seat belt gag rule and require a rate reduction for personal auto insurance.
This is a huge step in the right direction for the Louisiana tort legal system and it is all thanks to the IIABL. For more information on the tort reform, visit: https://www.theadvocate.com/baton_rouge/news/politics/legislature/article_b7828ad4-94a4-11ea-a35e-877d3bcad05e.html . For more information regarding the IIABL, visit: https://www.iiabl.com/default.aspx
- Fontenelle and Goodreau Insurance, LLC