Bill > HB609

This bill amends existing Louisiana law to provide detailed requirements for the appraisal process and employment of umpires when there is a dispute between an insurer and a policyholder over the amount of a property insurance claim. The key provisions include: - Requiring appraisers and umpires to register with the state insurance commissioner and meet certain qualifications and experience requirements. The commissioner can revoke registrations for misconduct. - Establishing a process for selecting and replacing umpires, including the use of an umpire selection panel created by the commissioner. - Defining the roles, responsibilities, and ethical obligations of appraisers and umpires, such as disclosing conflicts of interest, not communicating privately with parties, and prohibiting contingency fee arrangements. - Specifying the allocation of costs between the parties for the appraisal process. - Allowing for extensions of certain deadlines by the commissioner for reasonable cause. - Providing a mechanism for parties to object to the selection of an umpire. - Stating that an unpaid appraisal award can be used as evidence but is not binding, and that the insurer can move to vacate the award for good cause. The bill applies to property insurance policies issued, delivered, or renewed in Louisiana on or after January 1, 2025.

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https://www.legis.la.gov/legis/BillInfo.aspx?s=24rs&b=HB609&sbi=y