By Piper Hutchinson, Louisiana Illuminator
Louisiana Gov. John Bel Edwards will travel to London Wednesday to meet with business and insurance leaders.
On Thursday, Edwards plans to meet with representatives of Lloyd’s of London, the largest reinsurance underwriter on the global market, to discuss Louisiana’s insurance crisis. Since a flurry of major hurricanes dating back to 2020, Louisiana has lost nine home insurers. Lloyd’s is often the go-to underwriter for insurance companies that take those policies.
The governor plans to discuss legislative and regulatory changes that would make the state more attractive to insurers and reinsurers and how the risk modeling Lloyd’s uses in its insurance marketplace impacts the state.
“Few states are more directly impacted by the insurance underwriting and energy markets than Louisiana, which is why it’s so important to maintain an open dialogue with global leaders in those sectors,” Edwards said in a statement. “Thousands of Louisianans are not only still recovering from damage caused by devastating storms, but they are also dealing with unpaid claims, insurance companies folding, and problems finding new insurance coverage. We must find a way to solve this crisis.”
On Friday, Edwards will meet with companies that have invested in Louisiana’s energy transition efforts.