Louisiana State Sen. James David Cain, R-Dry Creek, the chairman of a state Senate committee on insurance wants to study the costs of coastal erosion on homeowners’ insurance rates.
According to the Associated Press, Cain wants to convene insurance companies, the state Department of Insurance and the Legislative Fiscal Office to compute how much of a toll coastal erosion has on insurance rates.
The state’s coast is disappearing at a rate of about 25 square miles a year.
Cain believes homeowners’ rates throughout the state are affected by coastal erosion because insurance companies base premiums on the state as a whole.
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