This bill amends and reenacts R.S. 22:1265(D), enacts new subsections R.S. 22:1265(K) and (L), and repeals R.S. 22:1265(F) and (H) as well as R.S. 1333(C) through (H), focusing on homeowners' insurance policies. It establishes that insurers cannot cancel or fail to renew a homeowner's policy that has been in effect for over three years, except under specific circumstances such as nonpayment of premium or fraud. The bill also clarifies that modifications to policy deductibles at renewal do not constitute cancellation or nonrenewal. Additionally, it defines what constitutes a claim and excludes losses from "Acts of God" from being counted as claims for the purpose of policy renewal.

The new provisions allow insurers to nonrenew up to five percent of their customers' policies annually for any reason, with the possibility of exceeding this limit upon approval from the commissioner of insurance. The bill also ensures that the plans and requests submitted by insurers regarding nonrenewals are treated as proprietary information. The provisions in R.S. 22:1265(K) will take effect upon the governor's signature or after the designated time period, while the remaining provisions will become effective on January 1, 2025.

Statutes affected:
HB611 Original: 22:1265(D), 22:1265(F), 22:1333(C)
HB611 Engrossed: 22:1265(D), 22:1265(F), 22:1333(C)
HB611 Reengrossed: 22:1265(D), 22:1265(F), 22:1333(C)
HB611 Enrolled: 22:1265(D), 22:1265(F), 22:1333(C)
HB611 Act 9: 22:1265(D), 22:1265(F), 22:1333(C)