{"id":3671,"date":"2025-12-11T11:00:55","date_gmt":"2025-12-11T12:00:55","guid":{"rendered":"http:\/\/www.xinetica.com\/?p=3671"},"modified":"2025-12-11T14:29:28","modified_gmt":"2025-12-11T14:29:28","slug":"lower-reinsurance-costs-drive-reduced-insurance-rates-in-louisiana","status":"publish","type":"post","link":"http:\/\/www.xinetica.com\/index.php\/2025\/12\/11\/lower-reinsurance-costs-drive-reduced-insurance-rates-in-louisiana\/","title":{"rendered":"Lower reinsurance costs drive reduced insurance rates in Louisiana"},"content":{"rendered":"

Louisiana Insurance Commissioner Tim Temple has approved requests from SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate Reciprocal Exchange for an average 7.5% rate reduction, benefiting the companies\u2019 more than 73,000 homeowners policyholders and over 17,000 dwelling policyholders.<\/p>\n

\"\"The changes, which take effect on February 16, 2026, reflect statewide averages, meaning each policyholder\u2019s actual rate adjustment will vary based on their individual risk.<\/p>\n

SURE, the second-largest homeowners insurer in Louisiana, which writes approximately 8% of the market, indicated its decreases are primarily driven by a reduction in reinsurance costs.<\/p>\n

Commissioner Temple commented, \u201cSince taking office, I\u2019ve met several times with reinsurers to determine how we can encourage them to invest more capital in the Louisiana homeowners market, as well as how we can reduce the risk\u2014and the cost\u2014associated with that investment.<\/p>\n

\u201cReinsurers consistently brought up the need for Louisiana to amend the three-year rule, clarify our catastrophe claims process and put far more emphasis on resilience and mitigation programs.<\/p>\n

\n
\"Brit<\/a><\/div>\n<\/div>\n

“While we still have a long way to go before all Louisianans can benefit from these changes, we have made great strides and are beginning to see the results of our hard work.\u201d<\/p>\n

Familiar readers will recall that since Commissioner Tim Temple introduced his property insurance reform package in 2024, Louisiana\u2019s insurance market has experienced significant stabilisation<\/a>.<\/p>\n

The reforms have encouraged new insurers to enter the state, expanded consumer choices, and prompted many existing carriers to scale back previously proposed rate increases, marking a notable shift toward a more competitive and resilient market.<\/p>\n

The post Lower reinsurance costs drive reduced insurance rates in Louisiana<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Louisiana Insurance Commissioner Tim Temple has approved requests from SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate Reciprocal Exchange for an […]<\/p>\n","protected":false},"author":1,"featured_media":399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3671"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3671"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3671\/revisions"}],"predecessor-version":[{"id":3674,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3671\/revisions\/3674"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/399"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3671"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}