House Bill No. [insert number] enacts R.S. 22:881.1, which mandates that insurers providing homeowners' and private passenger motor vehicle insurance in Louisiana disclose all available discounts that could lower premiums for policyholders or prospective policyholders. The bill specifies that this disclosure must be in writing, using a font size of no less than twelve points, and delivered electronically or included in the written materials of new policies and at each renewal. The term "discounts" is defined as premium credits that insurers advertise for policyholders meeting specific criteria. Importantly, the bill states that failure to comply with these disclosure requirements does not create a cause of action against the insurer.

Additionally, the bill clarifies that the disclosure requirements do not apply to excess and surplus lines of insurance. The effective date for this legislation is set for May 1, 2025.