Temple announces formation of advisory council to tackle insurance crisis

In his first action as Insurance Commissioner-elect, Tim Temple announced the creation of an Insurance Advisory Council.

According to a release from his office, the purpose of the council is to bring stakeholders to the table in order to aggressively tackle “the insurance crisis in Louisiana.”

“The Council will identify legislative recommendations for an upcoming special session and regular sessions designed to make structural and fundamental changes to how Louisiana works with and regulates the insurance industry.”

Temple’s commission will focus on five core categories and collaborate with stakeholders to develop policy solutions.

• Property Insurance – chaired by Jimmy Ordeneaux, a partner at Plauche Maselli Parkerson, LLP.

• Automobile Insurance – chaired by Randy Guillot, President of Triple G Express; former Chairman of the American Trucking Association

• Life and Health Insurance – chaired by Derek Babcock, President of Insurance and Financial Services, Inc. and Allied Benefits Solutions, LLC.

• Residual Market and Safety Nets – chaired by Mike Adams, Partner at Decuir, Clark & Adams LLP

• Future of the Louisiana Marketplace – chaired by Noel Bunol, Executive Vice President of Gulf States Insurance.

After an unopposed victory for the Louisiana Insurance Commissionership Temple said one of his main focuses was to make the marketplace affordable to Louisiana’s residents; and also provide a more welcoming environment for insurers.

“We can’t sit around and wish this problem away. I ran on a platform of immediately getting to work for the people of this state and that’s exactly what we’re doing,” said Commissioner-Elect Temple. “We’re going to bring everyone to the table and we’re going to figure this out. Families and businesses can’t wait any longer. It’s time to get to work.”