It’s been said that people’s standing on the issues is dictated by where their seat is at the table. There is a fundamental misunderstanding of what an insurance brokers’ seat is, so I will try to clarify mine. As an insurance broker, I DO NOT work for the carriers themselves. I work for clients to find appropriate and affordable coverage. I earn more on higher premiums!

Why then would I want to see premiums lowered? There are only a finite number of policies that our agency can write. Well, it’s simple: I’m tired of seeing clients forced to decide between other financial needs, being underinsured, or going uninsured! I don’t get paid unless I write policies, and I would rather put more in place at lower costs than fewer at higher costs. It’s good business.

Trial attorneys, on the other hand, get paid on volume AND size of case. It is advantageous for them to be able to sue for large judgments, and sue often. There is no limit on the number of lawsuits that can be filed, no real teeth to preventing illegitimate lawsuits, and no cap on certain damages that attorneys can collect. It is in the best interest of lawyers to sue early and often.

I’m not painting all attorneys as evil, nor insurance carriers innocent. Plaintiff’s attorneys play an integral part in holding bad actors accountable in everything from environmental damage to civil rights. There are bad actors in every business, insurance included. I’ve even sued an insurance carrier myself! However, there is a reason Louisiana’s notorious for being litigious. To be clear: I am all for plaintiff’s attorneys making a living, as long as they do it legally, professionally, and ethically. It’s time for the legislature to help them with that!

Jay Robicheaux is the owner of Coastal Louisiana Insurance and has over 20 years of experience in financial services and insurance. He graduated from LSU with a Masters in Finance. He has resided in Baton Rouge for the last 25 years. Jay is active in the community and was a member of Leadership LA Class of 2023.