The Senate Concurrent Resolution establishes the Task Force on Available and Affordable Commercial Motor Vehicle Insurance in Louisiana, aimed at addressing the significant challenges faced by trucking companies in obtaining affordable insurance. Louisiana is currently the second most expensive state for commercial motor vehicle insurance, with small fleets paying up to four times more than their counterparts in other states. The task force will study the impediments to affordable insurance, examine successful approaches from other states, and assess the economic impact of insurance costs on state revenue and the trucking industry.

The task force will consist of various stakeholders, including representatives from the insurance industry, state government, and consumer advocacy groups. It is tasked with providing recommendations to the legislature on increasing the availability and affordability of commercial motor vehicle insurance by March 1, 2024. The resolution emphasizes the need for increased competition among insurers to lower rates and improve the economic competitiveness of Louisiana's trucking industry, which is vital for the state's economy. The first meeting of the task force is to be held by July 31, 2023, with the commissioner of insurance overseeing its operations.