This bill amends and reenacts R.S. 22:1265(D), enacts 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 from "Acts of God" are excluded from the claim count.

Furthermore, the bill introduces provisions for policies in place for at least three years by August 1, 2024, allowing insurers to nonrenew up to five percent of their customers' policies annually for any reason, with the possibility of exceeding this limit upon the commissioner's approval. The bill also ensures that the plans and requests submitted by insurers regarding nonrenewals are treated as proprietary information. The provisions of R.S. 22:1265(K) will take effect upon the governor's signature or after the designated period for bills to become law without signature, 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)