Best’s Commentary: Louisiana’s Proposed Property Market Fix a Stopgap Given Underlying Reinsurance Issues

OLDWICK, N.J.--(BUSINESS WIRE)--#insurance--AM Best is of the view that Louisiana’s plan to appropriate $45 million in funds to attract insurance companies to take on more property risk and reduce the burden on the state-run insurer of last resort is likely to be a short-term stopgap as opposed to as an effective long-term fix given ongoing reinsurance issues. Ahead of a special legislative session in Louisiana to address its property insurance crisis, a new Best’s Commentary looks at ongoing challenges in the state’s property insurance market that are impacting availability and affordability of homeowners and commercial property coverage. According to the commentary, “Louisiana’s Proposed Property Market Fix a Stopgap Given Un