Gov. John Bell Edwards said Wednesday that more talks between state leaders are needed before making a decision on a possible special session on property insurance.
“It may or may not happen,” said Edwards.
After multiple hurricanes forced several insurance companies to flee or go bankrupt, Insurance Commissioner Jim Donelon is calling for a special session to attract more insurance companies to Louisiana.
Officials also want to reduce the number of residents forced to take out insurance through the state-owned insurance company, the Louisiana Civil Property Insurance Corporation, as a last resort.
Edwards said Donnelon’s attendance at the Joint Legislative Committee on the Budget scheduled for Friday will play a role in finalizing the special session.
House Speaker Clay Sheksnyder, R-Gonzalez, expressed skepticism about the need for an additional session before regular sessions begin on April 10.
“I think the question will either be answered to the satisfaction of the speakers and other leaders on Friday, or it won’t,” Edwards said.
The governor said there were questions about when lawmakers would address the issue, but he said the property insurance issue definitely needed attention.
“We know we are at stake,” he said.
Donnelon said swift action is needed so that insurers can obtain their own reinsurance well in advance of the hurricane season.
Edwards said former Congressman Donnelon “has a little more work to do” to convince skeptics of the need for a special session.
Senate Speaker R-Lafayette Page Cortez said a special session was likely to be held last Saturday.
“There is currently no consensus among leaders on whether a special session is necessary,” Edwards said.
The governor made his comments hours after meeting with House and Senate leaders.
State leaders hope to end the special session before Mardi Gras on February 21.
One possibility, Edwards said, is that it will start at noon on January 30th and last about a week.
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