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Bill > SB323

LA SB323

LA SB323
Provides for fair claims processing. (7/1/24)

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. 22:1892(A)(3) and (4), (B)(1), and (H), to enact R.S. 22:1892(A)(7), (B)(7), (I), (J), and (K), and 1892.2, and to repeal R.S. 22:1973, relative to claims settlement practices; to provide for definitions; to provide for loss adjustment; to provide for the payment of claims; to provide for practices following a catastrophe; to provide for good faith duty; to provide for breach of good faith duty; to provide for certain notices; to provide for penalties; to provide for causes of action; to provide for an effective date; and to provide for related matters.

AI Summary

This bill amends and enacts several provisions related to insurance claims settlement practices in Louisiana. It defines "catastrophic loss" and establishes different timelines and penalties for the payment of claims arising from catastrophic losses versus non-catastrophic losses. The bill imposes a duty of good faith and fair dealing on both insurers and insureds, and provides for penalties and attorney's fees in cases where this duty is breached. It also introduces a "cure period" requirement, where insureds must provide 60 days' written notice to the insurer before filing a lawsuit. The bill repeals the existing statute on "breach of good faith" (R.S. 22:1973) and directs the Law Institute to revise other laws to reflect these changes. The bill is set to take effect on July 1, 2024.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

Effective date 7/1/2024. (on 05/07/2024)

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bill summary

Document Type Source Location
State Bill Page https://www.legis.la.gov/legis/BillInfo.aspx?s=24rs&b=SB323&sbi=y
Analysis - Resume Digest for SB323 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1383996
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1372369
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1370090
Analysis - Summary of House Amendments to SB323 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1369371
House Committee Amendment #3213 INS Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1366578
House Committee Amendment #1110 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1353692
Analysis - House Committee Redigest of SB323 https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1366586
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359215
Senate Floor Amendment #1352 Talbot Adopted https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359028
Analysis - Digest of SB323 Reengrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1359404
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356361
Analysis - Digest of SB323 Engrossed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1357866
Senate Committee Amendment #1003 INS Proposed https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1356090
Senate Committee Amendment #585 INS Draft https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1353131
BillText https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1352724
Analysis - Digest of SB323 Original https://www.legis.la.gov/Legis/ViewDocument.aspx?d=1352725
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