BATON ROUGE, La. (BRPROUD) – The race for Louisiana Insurance Commissioner may not be for another year, but it is now officially underway.
Republican Tim Temple announced his candidacy to run in the 2023 election, citing Louisiana’s rising auto rates and the crisis involving homeowners insurance.
Last week the Louisiana Department of Insurance announced the approval of Louisiana Citizens’ request for a 63% rate increase on its residential property insurance policies beginning January 1, 2023. In making that announcement, Louisiana Insurance Commissioner Jim Donelon said the increase is required by law and that he’s working with the legislature to attract more insurance companies to the state.
“Over the last 17 years, Louisiana auto rates have soared to the most expensive in the country, while recently we’ve seen an explosion of homeowner rate increases and an expansion of attorneys promising quick claim settlements and loosely regulated public adjusters. Just last week, the current commissioner approved a 63% homeowner’s insurance rate increase,” Temple said. “Continuing to recycle old plans ignores the actual problems and shortcomings altogether, and these issues are too serious to ignore. More than ever Louisiana needs an insurance commissioner with experience in the insurance industry, that will be honest, transparent, accountable, and put the people of this state ahead of insurance companies. That’s why I’m running.”
Temple ran for Louisiana Insurance Commissioner in 2019 but lost to Donelon.
The election for Louisiana Insurance Commissioner is set for October 14, 2023, with a runoff election scheduled for November 18.