Bill > SB48

This bill requires insurance companies operating in Louisiana to submit detailed monthly and annual reports to the Department of Insurance about residential property insurance policies and claims. The monthly reports must include extensive data for each zip code, such as the number of policies in force, canceled, and nonrenewed, with specific breakdowns for hurricane-related actions, wind coverage details, and claim statistics. The annual reports will require insurers to provide comprehensive information about closed claims, including claim identification numbers, policy types, location details, loss types, vendor information, payment amounts, and legal representation. Additionally, insurers must report financial information like premiums, reserves, losses, expenses, and investment gains specific to Louisiana business. All submitted information will be considered confidential and exempt from public records laws, protecting the proprietary business data of insurance companies. The bill mandates that the Insurance Commissioner create the necessary rules and forms for implementing these reporting requirements, with the new regulations taking effect on January 1, 2026.

Business and Industry

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB48&sbi=y