MARCH 2024

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Insurance Challenges Bring Opportunities for Growth I’d like to begin my first Commissioner’s Column by thanking readers for the overwhelming amount of support and encouragement I’ve received in the months since becoming commissioner-elect last summer. When it comes to insurance, there’s a clear consensus that we need to find a way to lower insurance rates for property owners in Louisiana. I look forward to working together on a roadmap of solutions that revitalize our state’s insurance market. I am excited about the opportunities we have at the Louisiana Department of Insurance to usher in an “Insurance Renaissance” that makes a positive impact on the lives of our state’s residents and business owners. The challenges we face today provide a unique opportunity to build a more stable and predictable insurance environment. My priority is to make our state a more desirable destination for insurance companies to do business while protecting consumers. I learned throughout my 20-plus year journey in the insurance industry that it takes everyone to be part of the solution, whether you are a consumer, insurance company, claims adjuster, or agent. After graduating from Southern Methodist University in 1993, I worked as an insurance agent in Shreveport and later helped businesses recover from the devasting BP oil spill in 2010. I served as chair of the Louisiana Committee of 100 for Economic Development and as President of Temptan, a family-owned investment management business in Baton Rouge. I first learned the value of teamwork from my father, Aubrey, who cofounded Amerisafe, which is headquartered in my hometown of DeRidder and provides specialty workers’ compensation insurance in 27 states. My father also served as the founding Chairman of the Board of the Louisiana Workers’ Compensation Corporation (LWCC) for the first 23 years of its existence. During the mid-1980s, my father and his business partner saw a need for a workers’ compensation writer in the logging industry. He identified the problem, brought stakeholders together to tackle it, and developed a plan to fix it. I plan to take a similar approach to addressing our state’s insurance crises in the homeowners, property, and auto insurance markets. We will identify the issues, bring the right people together, and create solutions that directly address the problems. A dozen insurers that wrote policies in Louisiana have gone insolvent over the past couple of years, and several more have indicated they are not going to do business in our state any longer. We must work hard to attract companies by cultivating a predictable, stable, and healthy regulatory environment. Our state’s hurricane risk and coastal exposure will always be factors that insurers consider when determining where to write insurance, but until we address some of the fundamental challenges facing our state, affordability and availability will continue to frustrate Louisiana consumers. With Tim Temple Commissioner, Louisiana Department of Insurance the right reforms, we can begin stabilizing our market immediately. Though we can’t control the weather or the global factors increasing the cost of capital for insurance investment, we can still improve our regulatory and legal environment while focusing on mitigation to reduce our actual risk. By attracting more insurance companies to our state, we will help lower insurance rates to provide a better quality of life for every Louisiana resident. I look forward to working with Governor Jeff Landry, our friends at the legislature, consumers, the industry, and stakeholders like you to rebuild Louisiana’s insurance market. My priority is to make our state a more desirable destination for insurance companies to do business while protecting consumers. Page 8 LMR | MARCH 2024
Leveraging Social Media in a Crisis In today’s world, where staying connected is often taken for granted, unexpected crises like the recent cell phone network outage remind us just how much we rely on communication networks. As local leaders, you must take a hard look at your crisis management plans and find better ways to use digital platforms to keep in touch with the people you serve, no matter what happens. Social media has come a long way from being just a place for personal connections and fun. Platforms like Facebook, Instagram, and X (formerly Twitter) aren’t just for playing games and sharing funny cat videos anymore – these are powerful, free tools that can keep people informed and connected when things get rough. Anita Tillman addresses attendees on the importance of utilizing social media in crises. Social media is now a powerful crisis management tool that can spread information in real-time, rally community support, and create back-and-forth conversations. When traditional communication methods break down, social media can be a real lifesaver. To make social media a key part of your emergency response, you need to focus on strategic planning, community engagement, and constant learning. This means building a strong digital presence before a crisis hits, communicating clearly and with compassion, and tapping into the huge network of social media influencers. Creating a thorough social media crisis plan is a must. We need to know our target audience, set clear goals, and have a step-by-step plan to get important information out there quickly, accurately, and to as many people as possible during emergencies. By regularly engaging with our community on these platforms, we build trust and make social media a go-to source for reliable information. To be ready for anything, we must make social media a standard part of our emergency management process. This includes training staff, running practice drills, and Harnessing the Power of Social Media in Times of Crisis LMR | MARCH 2024 Page 9
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MARCH 2024

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