Louisiana Insurance Commissioner Tim Temple joined Mornings With Brian Haldane to discuss the state’s growing Fortified Roof Program, insurance market reforms and efforts to move policies out of Louisiana Citizens and back into the private market.
$100 Million for Fortified Roofs
Temple highlighted more than $100 million now available for fortified roofs across Louisiana. The funding includes $30 million approved by the Legislature, $50 million reallocated from Louisiana Citizens and another $20 million in federal funding.
Temple said the investment could support approximately 10,000 fortified roofs over a 12-month period.
A fortified roof uses stronger construction standards designed to keep shingles attached and prevent water from entering a home during severe weather. Temple said reducing water intrusion can significantly limit damage to ceilings, walls, floors and personal belongings.
Louisiana currently leads the nation in the growth of fortified roofs, according to Temple.
Building More Resilient Communities
Temple also discussed using data to identify areas where fortified roofs could create the greatest insurance benefits. The Louisiana Department of Insurance maintains a heat map showing the concentration of fortified roofs across the state.
The commissioner said he is working with reinsurers to determine whether reaching certain concentrations of fortified homes could reduce overall risk and eventually help lower insurance costs.
Temple also encouraged communities experiencing major development to incorporate resilient construction from the beginning rather than waiting for future storms to expose vulnerabilities.
More Insurance Options for Louisiana
Temple said five additional insurance companies are currently going through the application process to write homeowners insurance in Louisiana.
He also discussed efforts to reduce the number of policies held by Louisiana Citizens. Citizens currently has roughly 110,000 policies, compared with about 35,000 before the 2020 hurricane season.
Temple said moving eligible policies into the private market gives homeowners and businesses more choices while reducing Citizens’ overall exposure. He also noted that increased private-market capacity has already helped the commercial insurance sector.
According to Temple, strengthening homes and expanding insurance capacity remain key parts of Louisiana’s effort to build a more resilient insurance market.