Research could pave the way for lower business insurance | ULM Forum 9-20-12
Economists and state lawmakers are constantly at odds about how tax rates affect the economy. On one hand, lower taxes can spur development, but they also create less revenue to run state government, hospitals and universities.
The University of Louisiana at Monroe’s College of Business has been awarded a research contract from the Louisiana Department of Insurance to look at the possible effects of reforms to the state’s insurance system.
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Dr. Christine Berry, principle investigator and director of insurance studies at ULM, said, “Louisiana’s complicated insurance premium tax structure results in some of the highest costs in the country to insurance companies that sell insurance policies in the state. If the state can find a way to reduce the cost of conducting business for these companies, then insurance consumers should begin to see increased availability and lower rates.”
Berry has worked on this as well as other research projects (for the Louisiana Department of Insurance) that have focused on improving the competitive nature of the Louisiana insurance marketplace.
Air Date:
Thu, 09/20/2012