“If we’re being fair with everybody, let everybody pay the rates they should be paying. And I think that’s the best thing to do,” Luneau mentioned. “Why are we discriminating against women in Louisiana when it comes to automobile insurance rates, when there are actuarial studies that show that women tend to get less speeding tickets than men they need, they tend to be involved in less fatal accidents than men.”
The senator talked about an occasion just a few years in the past of an insurance coverage actuary that priced insurance coverage for 2 theoretical people by the identify of Chris, with the identical handle and the identical automobile. It was discovered that the feminine Chris paid extra for auto insurance coverage than the male Chris. Female Chris continued to have the pricier insurance coverage even after male Chris was given a DUI file.
BRProud.com reported that Luneau had beforehand proposed the invoice in 2020, however it didn’t cross because it confronted opposition from each insurance coverage corporations and the state insurance coverage commissioner.
“My suggestion would be if they don’t have a legitimate reason to go up on their rates like they were being actuarially sound before with men, why should they go up now?” the senator mentioned.
Luneau mentioned that insurers claimed that ending the rate-setting observe would increase charges for males, however he desires to know why they use gender as an element.
“We’ve not had anybody from the insurance industry come to committee and testify and tell us why they’re doing that. We’ve had a lot of lobbyists who work for the insurance folks come in and say, ‘Oh, we don’t know,’” the senator acknowledged.
Other states have handed related payments up to now, equivalent to California, Hawaii, Massachusetts, Pennsylvania, North Carolina, and Montana. California, particularly, was the latest addition to the checklist, with the restriction applied in 2019.