Governor Landry Vetoes HB 423

PIA Members:

Yesterday afternoon Governor Landry vetoed HB 423 regarding collateral source.

The membership of the Professional Insurance Agents of Louisiana advocated for passage of this collateral source bill and were delighted to see this bill move through both legislative chambers garnering great support.

We are disappointed that the Governor vetoed this significant, common-sense legislation that we believe would have Louisiana as a great place for insurance companies to do business. We remain confident that passage of HB 423 would have done much to bring down exorbitantly high insurance premiums paid by Louisiana insurance consumers.

We appreciate that Commissioner Tim Temple has called for a Special Session on legal reform following the Governor’s veto on HB 423. Whether a Special Session happens or not, we want to remind you that there were several bills that passed this regular legislative session, particularly regarding insurance reform, such as file and use and direct action. Legal reform, however, has been a much more difficult challenge, but we remain committed to this work and will continue to advocate for legal reform as well as insurance reform.

The Professional Insurance Agents of Louisiana will not give up the fight to improve the insurance industry in our state!

PIA of Louisiana will soon put out our report to the membership on the 2024 Regular Legislative Session so please watch for that correspondence forthcoming.

If you have any questions or concerns, we are here for you! Please contact your PIA of Louisiana staff at 225-766-7770 if we may be of service. Thank you for your membership and support to our industry!

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Click here to read Commissioner Temple’s call to the Governor, the Senate President and the House Speaker to call a special session to “work together to pass legislation including changes to the collateral source rule and the Housley presumption.”