INSURANCE: Requests the commissioner of insurance to investigate the potential for creating a Coastal Reinsurance Assistance Program

This concurrent resolution asks the Louisiana Commissioner of Insurance to study the possibility of launching a Coastal Reinsurance Assistance Program. The proposed program would create a cooperative reinsurance pool involving several coastal states to offer insurance coverage to property insurers at lower rates than currently available. If implemented, the savings from these lower rates would be passed on to homeowners through reduced insurance premiums. The bill directs the insurance department to complete this investigation and report its findings to the legislature by February 1, 2025.