“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 stated. “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 deal with 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, but it surely didn’t move because it confronted opposition from each insurance coverage firms 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 stated.
Luneau stated that insurers claimed that ending the rate-setting apply would elevate charges for males, however he needs 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 said.
Other states have handed related payments previously, akin to California, Hawaii, Massachusetts, Pennsylvania, North Carolina, and Montana. California, particularly, was the latest addition to the listing, with the restriction carried out in 2019.