BillTrack50 logo
Free Signup Login
Bill

Bill > HB611

LA HB611

LA HB611
Provides relative to homeowners' insurance and termination of certain policies

summary

Introduced
03/01/2024
In Committee
04/17/2024
Crossed Over
04/02/2024
Passed
04/30/2024
Dead
Signed/Enacted/Adopted
05/07/2024

Introduced Session

Potential new amendment
2024 Regular Session

Bill Summary

AN ACT To amend and reenact R.S. 22:1265(D), to enact R.S. 22:1265(K) and (L), and to repeal R.S. 22:1265(F) and (H) and 1333(C) through (H), relative to homeowners' insurance; to provide for homeowners' policies in effect for three or more years; to provide relative to deductibles and modification of coverages; to authorize insurers to file plans and requests with the commissioner of insurance relative to the nonrenewal of certain policies; to repeal relative to filings of certain rating plans and rate reductions; to provide for effectiveness; and to provide for related matters.

AI Summary

This bill amends Louisiana's insurance law regarding homeowners' insurance policies. The key provisions are: 1. Insurers cannot cancel or fail to renew a homeowner's policy that has been in effect for more than 3 years, unless it is due to nonpayment of premium, fraud, a material change in the risk, 2 or more claims in 5 years, or if continuing the policy would endanger the insurer's solvency. This does not apply to insurers withdrawing from the market or modifying deductibles. 2. For policies in place for at least 3 years as of August 1, 2024, insurers can file a plan with the insurance commissioner to non-renew up to 5% of their customers' policies per year, and can request permission to non-renew more than 5% in a year. 3. Insurers' plans and requests for additional non-renewals are considered proprietary/trade secret information. 4. The insurance commissioner is directed to promulgate rules for the non-renewal plan and request process. 5. Certain existing provisions regarding filings of rating plans and rate reductions are repealed.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Effective date: See Act. (on 05/07/2024)

bill text

bill summary

Loading...

bill summary

Loading...

bill summary

Document Type Source Location
State Bill Page https://www.legis.la.gov/legis/BillInfo.aspx?s=24rs&b=HB611&sbi=y
Analysis - Resume Digest for HB611 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1387938
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1372363
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1370255
Analysis - Summary of Senate Amendments to HB611 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1369745
Senate Floor Amendment #2280 Talbot Adopted https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1367856
Senate Committee Amendment #1828 INS Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1364121
Analysis - Senate Green Sheet Digest for HB611 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1366949
Senate Committee Amendment #1986 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1365780
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359422
Analysis - Digest of HB611 Reengrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359459
House Floor Amendment #2004 Firment Adopted https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359341
House Floor Amendment #1965 Willard Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1358943
House Floor Amendment #1819 Firment Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1358174
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356969
House Committee Amendment #1547 INS Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356896
Analysis - Digest of HB611 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356986
House Committee Amendment #1265 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1354641
House Committee Amendment #1474 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356164
House Committee Amendment #1484 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356175
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1352174
Analysis - Digest of HB611 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1352218
Loading...