From The Advocate:

Temple points to the “F” grade given Louisiana’s insurance regulatory system in December by the R Street Institute Policy Study No. 163: 2018 Insurance Regulation Report Card.

The Washington, D.C. conservative research group opposes rate regulation, arguing that controls over premium prices “may hinder the speed with which new products are brought to market. … An open and free insurance market maximizes the effectiveness of competition and best serves consumers.”

The F grade awarded Louisiana by R Street was influenced by the lack of points because the insurance commissioner and his staff must approve rate increases prior to their being employed.

The group also knocked off five points because Louisiana is one 11 states in the nation that elect its insurance commissioner. They favor a gubernatorial appointment for a set term.

Louisiana has the second highest auto insurance rates in the country. The state scored poorly, third worst on the R Street analysis, for “market concentration,” meaning too few companies writing too many of the auto insurance policies, and “loss ratio,” meaning number of claims and amount insurers have to pay out for those claims.