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Donelon: Large companies aren’t eager to help depopulate Louisiana’s insurer of last resort

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Donelon: Large companies aren’t eager to help depopulate Louisiana’s insurer of last resort


NEW ORLEANS (WVUE) – Stephen Lovecchio, a department proprietor of TWFG Insurance coverage, is working to get shoppers moved from Louisiana Residents, the state’s insurer of final resort.

“The Louisiana Residents hike in Orleans Parish may be very, very giant,” he mentioned. “Not as dangerous in Jefferson Parish, nevertheless it’s very, very large in New Orleans. We’ve simply gotten the charges for Orleans Parish: Our $7,000 premiums will probably be $13,000, so we’re aggressively making an attempt to maneuver our individuals.”

Residents inherited over 100,000 insurance policies after insurance coverage firm failures. Come January, a 63 % charge hike goes into impact for Residents’ residential policyholders.

Louisiana Insurance coverage Commissioner Jim Donelon says the variety of insurers which have withdrawn from the state shouldn’t be recognized.

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“A complete of eight corporations that failed,” he mentioned. “What number of have withdrawn? We don’t know, as a result of most that withdraw simply cease writing and don’t begin writing once more.”

A NOLA.com report mentioned state insurance coverage regulators have been determined to maneuver individuals out of Residents and “have been lenient in how they interpreted” a rule created by state lawmakers that claims insurers want a letter grade of B+ or higher from the score agency A.M. Greatest, or its equal, to take over insurance policies from Residents.

“I’ll disagree with that,” Donelon mentioned.

He says he attends conferences held by the Residents board of administrators.

“All of that’s thought of by the board of Residents, and on my own, giving my enter and recommendation,” Donelon mentioned. “We’ve got been in complete settlement all through the method that, sure, these are usually not top-of-the-line, big nationwide corporations that need to take these insurance policies out. It’s usually small, regional corporations doing coastal state publicity.

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He mentioned not one of the corporations had under a “C” score.

“All of them had a Demotech ‘A-Distinctive’ score on the time that they participated in this system,” Donelon mentioned.

Demotech is a monetary evaluation and score agency. Donelon mentioned it’s typically tough for smaller insurers to be rated by A.M. Greatest, which is seen because the gold customary by way of scores.

“We’d love for all of those corporations taking part to have the very best score out there, an A.M. Greatest A+ score,” Donelon mentioned. “There are only a few of these, and never any of them are desirous about taking insurance policies out of Residents. And the score given to an organization is simply one of many standards used to find out the well being of an organization.

“They’ve to fulfill a risk-based capital requirement, a minimal capital and surplus requirement, they need to have a evaluate of their reinsurance purchase to ensure that it’s enough for the chance that they’re taking over. All of that’s a part of the solvency evaluate, not simply this one letter grade of analysis by these handful of score companies.”

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Lovecchio agrees that an A.M. Greatest score is difficult to return by for smaller insurers.

“Sure, A.M. Greatest is de facto not good with our state-specific carriers and smaller regional carriers,” he mentioned. “Someone simply does cars or anyone simply does householders in Mississippi, they’re not going to get an A.M. Greatest score, as a result of it prices an excessive amount of for them to get it. And A.M. Greatest likes to take care of nationwide carriers, anyway.”

Donelon mentioned newer corporations face challenges, too.

“It’s straightforward for State Farm and Allstate to get an A.M. Greatest score. Not really easy for an organization doing enterprise simply in Louisiana or in Florida,” he mentioned.

Insurance coverage corporations additionally purchase insurance coverage, which known as re-insurance, however that market is having issues.

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“The reinsurance market comes out of Europe, and particularly England,” Lovecchio mentioned. “Downside with England is the pound is now dollar-for-dollar, the place it was once $2.20. The investments that everyone’s made are down 20-30 %, and so they’ve had giant losses in the US.”

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Louisiana

Bird flu virus likely mutated within a Louisiana patient, CDC says

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Bird flu virus likely mutated within a Louisiana patient, CDC says


A genetic analysis suggests the bird flu virus mutated inside a Louisiana patient who contracted the nation’s first severe case of the illness, the U.S. Centers for Disease Control and Prevention said this week.

Scientists believe the mutations may allow the virus to better bind to receptors in the upper airways of humans — something they say is concerning but not a cause for alarm.

Michael Osterholm, a University of Minnesota infectious disease researcher, likened this binding interaction to a lock and key. To enter a cell, the virus needs to have a key that turns the lock, and this finding means the virus may be changing to have a key that might work.

“Is this an indication that we may be closer to seeing a readily transmitted virus between people? No,” Osterholm said. “Right now, this is a key that sits in the lock, but it doesn’t open the door.”

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The virus has been causing sporadic, mostly mild illnesses in people in the U.S., and nearly all of those infected worked on dairy or poultry farms.

The Louisiana patient was hospitalized in critical condition with severe respiratory symptoms from bird flu after coming in contact with sick and dead birds in a backyard flock. The person, who has not been identified, is older than 65 and has underlying medical problems, officials said earlier this month.

The CDC stressed there has been no known transmission of the virus from the Louisiana patient to anyone else. The agency said its findings about the mutations were “concerning,” but the risk to the general public from the outbreak “has not changed and remains low.”

Still, Osterholm said, scientists should continue to follow what’s happening with mutations carefully.

“There will be additional influenza pandemics and they could be much worse than we saw with COVID,” he said. “We know that the pandemic clock is ticking. We just don’t know what time it is.”

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.





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‘Jesus was an immigrant,’ Louisiana activists say amid international immigration led population increase

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‘Jesus was an immigrant,’ Louisiana activists say amid international immigration led population increase


NEW ORLEANS (WVUE) – New census numbers show international immigration was a major driving factor of population growth across the United States, contributing to Louisiana’s first population increase in years.

Nationally, immigration accounted for 84% of the nation’s population growth between last July and this July.

In Louisiana, the population grew by just under 10,000. The numbers reveal that about 23,000 more people moved into Louisiana from other countries than people from Louisiana to other countries.

Louisiana lost a net of 17,000 people to other American states.

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On the day after Christmas, immigration activists gathered at the steps of City Hall to send a message to Louisiana leaders.

Rachel Taber with Unión Migrante served as an interpreter for Alfredo Salacar of Mexico.

“For all of the anti-immigrant politicians that are supposedly Christian, we want to remind them that Jesus himself was an immigrant,” Salacar said.

Immigration activists said Jesus didn’t come from the White House, a palace or a mansion along St. Charles Avenue; he was born in a stable as his migrant parents who were forced to flee wandered a foreign country.

Taber said many undocumented families who’ve settled in New Orleans had to flee political tyranny, violence and poverty.

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“Louisiana is an incredible place everyone wants to visit because of our rich gumbo of people who made a life here: Cajuns, Sicilians, Germans, Irish, Spanish Islenos, Jewish people, resilient Africans and Indigenous people who kept their culture alive despite so much injustice. This recent wave from Central and Latin America is just the newest flavor to add to the family recipe,” Taber said.

Unión Migrante is fighting against racial profiling and the separation of families.

“That’s not a good use of our resources. We want to see families remaining together,” Taber said.

During Thursday (Dec. 26) night’s Christmas Posada and vigil, the local immigration activist group called on Louisiana leaders to take a more pro-immigration stance. At the Hispanic cultural celebration, they also demanded the federal oversight of the New Orleans Police Department continue.

“We’re not criminals. We are an asset,” said Yareli Andino. “If just one opportunity would be given, I think a lot of things could change.”

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This holiday season, they are asking people to open their hearts and homes.

“We contribute, we work, we’re here. We rebuild this community after every hurricane comes and destroys it. We work in your hotels. We work in your homes. I personally work in construction, and I’ve been in the homes of many of these same elected officials,” said Salacar. “We know that threats are coming our way… We have a human right to migrate and it’s disgusting to see politicians not only making money off of immigrants but turning us into a political pawn for their own ambition.”

Taber said, “Taylor Swift weekend, the Super Bowl, and Mardi Gras would not be possible” without immigrants.

Members of Unión Migrante said Jesus’ life is an example of empathy, compassion, peace and humility, displaying a deep love towards our neighbors and those most vulnerable.

In a statement, Sgt. Kate Stegall said, “The Louisiana State Police regularly partners with local, state, and federal law enforcement agencies to enforce laws throughout Louisiana. Additionally, LSP Troopers are assigned to federal task forces, where they focus on enforcing federal laws. In these collaborative efforts, Troopers uphold a high standard of professionalism and ensure respectful and effective interactions.”

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In a ride-along earlier this month, ICE told Fox 8 these alleged raids and indiscriminate sweeps couldn’t be further from the truth.

ICE representatives said the federal agency is prioritizing criminals and those who pose a threat to national security.

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How Baton Rouge compares with other Louisiana metros in job growth

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How Baton Rouge compares with other Louisiana metros in job growth


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While Baton Rouge was the only MSA in the state that saw a decrease in jobs from October to November, the MSA still saw significant gains year over year.

Baton Rouge lost 200 jobs from October to November, according to data released late last week by the Louisiana Workforce Commission. Other metros in the state added between 200 and 300 jobs for the same time period, except for Lafayette and New Orleans, which added 800 and 2,100 jobs, respectively. Baton Rouge added 1,900 jobs from November 2023, the second highest in the state, trailing only New Orleans, which added 8,900 jobs.

Statewide, sectors that showed the largest gains for seasonally adjusted jobs over the year included private education and health services (10,000), construction (7,800) and government (6,500).

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