Louisiana has enacted Senate Bills 136 and 137. Please see the below summaries of each bill.
Senate Bill 136 requires insurers licensed to write homeowners or private passenger automobile insurance to file a rate transparency report based on their most recently approved rate filing by January first of each year. Insurers must also provide a copy of their most recently approved rate transparency report, for the pertinent line of coverage, to insureds upon the issuance or renewal of a policy. The bill provides the information that should be included in each rate transparency report.
Senate Bill 137 requires insurers authorized to write automobile or property insurance to provide written notice to the commissioner within 10 days of providing notice to its agents or other representatives of any decision to cease, pause, or resume the writing of new insurance policies. Such notice must include the effective date of the cessation, pause, or resumption; affected lines; impacted geographic areas; and a description of the reason for the action.
Please see the links provided above for more information.
