Recognizing the instability of Louisiana’s property insurance market, Governor John Bel Edwards has called for legislators to convene a special session to address the issue.
Edwards’ call comes after State Insurance Commissioner Jim Donelon appeared before the Joint Legislative Committee on the Budget last week to request a special session.
Donelon proposed setting aside $45 million for an incentive fund previously established by lawmakers, to entice up to seven insurers to start writing policies in Louisiana.