Bill > SB199

This bill amends Louisiana's insurance fraud regulations by expanding the Department of Insurance's authority to address unfair practices in the insurance industry. The bill provides a more comprehensive definition of the "business of insurance," which now includes activities related to insurance sales, solicitation, claims resolution, and interactions between insurers and insureds. It clarifies that legal professionals and healthcare patient advocates are not considered part of the insurance business. The bill gives the Insurance Commissioner broader powers to investigate and take action against both licensed and unlicensed entities engaged in unfair trade practices. For unlicensed entities, the Commissioner can now issue cease and desist orders, impose fines, and take other regulatory actions. The bill also establishes an appeals process for entities challenging the Commissioner's actions, allowing judicial review through district courts. Importantly, the bill provides a mechanism for staying enforcement actions during appeal, unless the court determines that a stay would be detrimental to public interest. These changes aim to strengthen consumer protections and provide more robust oversight of insurance-related activities in Louisiana.

Business and Industry

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=SB199&sbi=y