A group of business associations recently hosted a luncheon to discuss the legal climate in the state of Louisiana and to begin planning how to implement legal reform.
Louisiana is one of the most expensive states for auto insurance, a posting on nola.com said, and tort-related taxes also loom high, making it an expensive place to live or do business.
Because of these factors, business association leaders are working to find practical solutions to the problems facing the state. At a recent luncheon, Louisiana Lawsuit Abuse Watch, Louisiana Association of Business and Industry (LABI), Louisiana Oil and Gas Association (LOGA) and others joined forces to discuss solutions, a Jan. 24 posting on watchdog.org said.
One of the main concerns of these organizations is tort reform. As it stands in Louisiana, attorneys are encouraging individuals and businesses to sue companies for damages, some of which stand to harm key industries such as oil and gas.
LOGA President Gifford Briggs recently told the Louisiana Record why legal reform is so desperately needed if the economy is expected to thrive.
"Lawsuit abuse is making Louisiana an unattractive place for current and future investment," Briggs said.
Last summer, coastal parishes began to file lawsuits against oil and gas companies alleging coastal damage because of company operations, a posting on houmatoday.com said. The suits stands to harm the energy industry if they are allowed to continue.
"The crippling effects it has had on the oil and gas industry is simply embarrassing. We must fight to stop this abuse and add more jobs and investment, not more lawsuits," Briggs said.