Does a Second Insurance Reform Bill Have a Chance?

Stephen Waguespack, President of the Louisiana Association of Business and Industry, talks about the chances of a second tort / insurance reform bill passing through the state legislature and getting the governor's signature.

Previous tort reform legislation, which easily made it through both the Louisiana Senate and Hose of Representatives, was vetoed by Governor John Bel Edwards last week. The bill, SB 418 and authored by Senator Kirk Talbott, did not have the super majority majority necessary the Governor.

In referring to legislation, Waguespack says pro-reform lawmaker have acted quickly. "The Speaker of the House, Clay Schexnayder, introduced a bill on the House floor two days ago," says Waguespack, in referencing the legislation's bi-partisan support, "It's slightly different, which we hope this time will be slightly more amenable to the Governor and now it will go to the Senate."

The LABI boss explains what happens next. "Now it goes to the Senate, the Judiciary A Committee. This year, it's chaired by Senator Barrow Peacock and it will be in committee today. If everything goes according to plan, by the end of the week we should have a bill that has huge bipartisan support going up to the Governor's desk. This different level of bipartisanship...we think could be the deciding factor in convincing the Governor to put his name on the piece of paper."

"Do the right thing," Waguesback says, indirectly addressing Edwards, "Help out with Louisiana's auto insurance rates the way everybody knows we need to do."