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May 25
Uncertain outlook as El Nino looms

​Some hurricane experts say they expect a somewhat-more-active-than-normal storm season in the face of an El Nino weather pattern whose impact is unpredictable, reports the Hattiesburg American (5/23/23, Beveridge).​

May 25
Florida to become costliest place for coverage

Florida is on track to become the costliest place for property insurance, and hurricanes are driving the cost in multiple ways, reports Bloomberg (5/24/23, Kaufman). A wave of lawsuits were filed in the Sunshine State before a tort reforms went into effect this spring, reports the Insurance Journal (5/22/23, Southeast News).

May 25
Center will offer climate data to industry

​Scientists say a climate research center will provide property insurers with access to data to adapt to growing weather risks, reports NPR (5/23/23, Hersher). Businesses in storm-prone regions should build relationships with contractors and others as part of risk-mitigation planning, reports Business Insurance (5/23/23, Wilkinson).​

May 25
Reform bills include litigation-funding disclosure

​A bill in the state legislature requires disclosure of litigation finance agreements to reduce use of the secretive funding mechanism, reports Bloomberg Law (5/23/23, Siegel). An editorial in The Advocate (5/18/23) frets that some market reforms may hurt consumers and cites concerns expressed by Insurance Commissioner Jim Donelon in calling for caution. ​

May 25
Trustee will oversee claims-fraud mess

​The state Supreme Court named a Baton Rouge personal-injury lawyer as the special trustee to oversee the “mess" of litigation involving a suspended Houston law firm accused of widespread claims fraud, reports WWLTV (5/19/23, Hammer). ​

May 25
Regular flooding batters upscale development

​Chronic street flooding has become a central concern at a high-end housing development in Gonzales, reports The Advocate (5/22/23, Mitchell). Jefferson Parish broke ground on a $17.3 million project to reduce “hotspot" flooding, reports the New Orleans Times-Picayune (5/22/23, Fazio). New Orleans' drainage system was honored as an engineering marvel, reports the Times-Picayune (5/23/23, DiCola). Livingston Parish agreed to enforce zoning rules requiring 1-acre lots in a controversial housing project, reports The Advocate (5/23/23, DeRobertis).​

May 25
Residents priced out of flood coverage: Senator

​Homeowners in south Louisiana will no longer be able to buy flood insurance if National Flood Insurance Program premiums are not kept affordable, said U.S. Sen. Bill Cassidy while pledging cost reforms, reports The Advocate (5/23/23, Smith). The West Bank of New Orleans is “ground zero" for huge NFIP price hikes, reports the New Orleans Times-Picayune (5/21/23, Fazio).​

May 25
PODCAST: Biz New Orleans Talks with Jeff & Ben Albright

​Episode 152: Industry Advocates Say Friendlier Laws, Stronger Construction Will Help Solve Homeowners Insurance Crisis

May 18
Inflation, disasters drive p/c losses

​An Insurance Information Institute report finds that inflation and natural catastrophes drove property and casualty losses for 2022, reports IBA magazine (5/16/23, Pangilinan). Rising attorney involvement drove commercial claims losses, according to the Insurance Innovation Reporter (5/16/23, Rabbani).​

May 18
Congress to take up NFIP, again

U.S. lawmakers are again looking at reforms to the National Flood Insurance Program after changes that will create enormous rate jumps for many, reports E&E News (5/15/23, Frank). A New Jersey congressman said he will introduce legislation to limit NFIP premium spikes. Meanwhile, experts put the chance of another El Nino weather pattern at 80 percent, reports The Hill (5/11/23, Martichaux).

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No, this isn't actually my picture. I just haven't gotten around to updating this section. It's good to know that someone is reading every last word though. Thanks!