Tim Temple announces bid for insurance commissioner as state mired in crisis
Republican Tim Temple, a wealthy insurance executive from Baton Rouge, will take a second crack at incumbent GOP Louisiana Insurance Commissioner Jim Donelon in 2023 with the state mired in a homeowners insurance crisis.
Temple posed a strong challenge to Donelon in 2019 by spending $2 million of his own money, but Donelon pulled out another win with 53% of the statewide vote. Donelon first won the office in 2006.
“Over the last 17 years, Louisiana auto rates have soared to the most expensive in the country, while recently we’ve seen an explosion of homeowner rate increases and an expansion of attorneys promising quick claim settlements and loosely regulated public adjusters," Temple said in a news release.
"Just last week, the current commissioner approved a 63% homeowner’s insurance rate increase," Temple said. “Continuing to recycle old plans ignores the actual problems and shortcomings altogether, and these issues are too serious to ignore. More than ever Louisiana needs an insurance commissioner with experience in the insurance industry, that will be honest, transparent, accountable, and put the people of this state ahead of insurance companies."
While it's true Donelon approved a 63% rate hike for customers in the state's quasi-government safety net insurance company Citizens, he had little choice.
By law, Citizens' prices must be 10% above the highest market rate in each parish or the actuarial rate, whichever is higher. Citizens provides insurance to homeowners who can't secure protection in the private market.
The campaign could be contentious. During his 2019 bid, Temple described Donelon as "asleep at the wheel."
Temple is a DeRidder native who serves as president of the family-owned business Temptan and as volunteer chair of the Louisiana Committee of 100 for Economic Development.
Greg Hilburn covers state politics for the USA TODAY Network of Louisiana. Follow him on Twitter @GregHilburn1
This article originally appeared on Lafayette Daily Advertiser: Tim Temple announces bid for insurance commissioner with state in crisis
