U.S. Senate debates ways to lower insurance costs

U.S. Senate debates ways to lower insurance costs

Property insurance: A U.S. Senate committee last week debated strategies to lower the cost of property insurance in Louisiana and other states, Mark Ballard reports. Ideas discussed: A government-backed reinsurance plan, more – or less – state regulation, and more consumer education.

Secretary of State's race: The Secretary of State's race has taken on a more political bent this year as candidates voice different opinions about the potential for voter fraud in Louisiana, Sam Karlin reports. Eight candidates are in the running.

Treasurer's race: Louisiana voters have three choices for the next state Treasurer: John Fleming, Scott McKnight, or Dustin Granger, Tyler Bridges reports. The three candidates are vying to lead an office that is tasked with investing the state's trust funds and other duties.

Numbers to Know

Home insurance premiums are up an average of 26.4% nationwide

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Florida is the most expensive place in the nation to insure a home, at $4,200 on average

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Louisiana is the second most expensive place to insure a home, at $2,038 on average

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Source: R Street Institute, U.S. Senate Committee on Banking, Housing, and Urban Affairs.

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Editor's Note: In an earlier newsletter, this section noted that 233,000 more students would eat free under Act 305 of the 2023 Legislative Session. In fact, that figure is nearly 14,000. The Advocate, The Acadiana Advocate, The Shreveport-Bossier Advocate and the Times-Picayune regret the error.

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