Louisiana Senate approves insurance reform bill by Rep. Wiley amid ongoing debate

BATON ROUGE - On May 21, 2025, the Louisiana Senate passed House Bill 148 (HB 148) aimed at enhancing transparency and granting the state insurance commissioner broader authority over rate approvals. The bill, sponsored by Representative Jeffery "Jeff" Wiley, received a 26-9 vote in the Senate and had previously passed the House with a 68-34 vote on April 30.

 

Initially, HB 148 focused on requiring insurers to disclose prior premium amounts to policyholders upon renewal, enabling consumers to easily compare rate changes. However, an amendment by Rep. Brian Glorioso (R-Slidell) expanded the bill's scope significantly. The amendment incorporates elements from a separate proposal by Democratic Reps. Robby Carter and Chad Brown, granting the insurance commissioner the power to reject rate increases deemed "excessive" or "unreasonably high" without the need to prove a lack of market competition. The definition of "excessive" rates is broadened to include rates that yield unreasonably high profits or expense provisions. 

 

Proponents argue that the bill is a necessary step to address Louisiana's high insurance premiums and restore public trust. Governor Jeff Landry supports the legislation as part of his broader agenda to reform the state's insurance system. However, the bill has faced criticism from some lawmakers and industry representatives. Insurance Commissioner Tim Temple expressed concerns that the expanded authority could lead to insurers withdrawing from the Louisiana market, potentially reducing competition.

 

With the Senate's amendments adopted, HB 148 will return to the House for concurrence. If the House agrees to the Senate's changes, the bill will proceed to Governor Jeff Landry for signature. If the House rejects the amendments, a conference committee may be convened to reconcile differences between the two chambers.