Louisiana looks to reduce the Citizens pool

[Renaissance Man]

Link

Any buyers?

I just like to post these as a counterpoint to the FL situation.

[tommie frazier]

how many citizens are they thinking of eliminating?

[Renaissance Man]

The smart ones, so one or two at most.

[Abnormal]

The article refers to another bill:

Over industry objections, the panel also approved a bill that would require insurance companies to use 100 years of hurricane data rather than five as they determine their rates.

Sen. Art Lentini, R-Metairie, introduced the measure after The Times-Picayune reported that at least two insurers, Hartford and ANPAC, used a modeling system that uses five years of weather data to determine hurricane risk. The companies won rate increases partly based on the five-year modeling.

And I'm sure they won't be allowed to credibility weight the years. So does this mean they don't believe that the climate is changing?

[campbell]

Yes, but if you look at 100 years of hurricane data, wouldn't you find how cyclical frequency and severity patterns are, which would also show a current heightened risk for hurricanes? It could be that the 100-yr pattern would project even higher probabilities. They should be careful for what they mandate.

[Renaissance Man]

The Louisiana Legislature does dumb things all the time. However, the reputation of the current insurance department there is fairly pro-market, and credibility weighting will probably be accepted.

Also, the whole 100-year versus five-year models has to do with the RMS model.