Bill > HB345

This bill amends Louisiana insurance laws to extend notice periods and add transparency requirements for residential property insurance policies. Specifically, the bill increases the required notification period from 30 to 60 days for cancellations and non-renewals of various types of insurance policies, including homeowners and automobile insurance. The legislation now requires insurers to provide written notice that explicitly states the reason for cancellation or non-renewal, giving policyholders more advanced warning and information about changes to their insurance coverage. The bill applies to different scenarios such as policy cancellations, non-renewals, rate increases, changes in deductibles, and reductions in coverage limits. By mandating longer notice periods and more detailed explanations, the bill aims to provide Louisiana residents with greater protection and transparency in their residential property insurance policies. The changes will take effect on July 1, 2026, giving insurance companies time to adjust their practices to comply with the new requirements.

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https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB345&sbi=y