The University of Louisiana-Monroe College of Business has been awarded a research contract from the Louisiana Department of Insurance to study and provide support for proposed legislative insurance reforms.
The News-Star reports the research is designed to provide support for proposals to improve the Louisiana insurance market, making insurance more widely available and rates more affordable.
The college has done work on the subject for several years under state contracts.
“Louisiana’s complicated insurance premium tax structure results in some of the highest costs in the country to insurance companies that sell insurance policies in the state,” said Christine Berry, director of insurance studies at the university.
“If the state can find a way to reduce the cost of conducting business for these companies, then insurance consumers should begin to see increased availability and lower rates,” she said.
Berry has worked on various projects for the state Insurance Department focused on improving competition in the Louisiana insurance marketplace.
Other ULM economists and business faculty also have been involved in the research.
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
World’s Largest Retirement Community Taps Muni Market to Help Build More Homes 
Update: Hurricane Melissa Churns Toward Jamaica as Category 5 Storm 
The Future of the Agency in a World of AI 
Alaska Airlines Vows IT Upgrades After Outage Forces 400 Flight Cancellations 
