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, fraud, or multiple claims. The bill clarifies that modifications to policy deductibles at renewal do not constitute cancellation or nonrenewal. Additionally, it specifies that claims are only recognized when there is a demand for payment, and losses due to "Acts of God" are excluded from the claims count.

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 changes are set to take effect upon the governor's signature or by January 1, 2025, for most provisions, while the new rules regarding nonrenewals will apply to policies in place for at least three years as of August 1, 2024.

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)