This bill amends and reenacts R.S. 22:1265(D), enacts new subsections R.S. 22:1265(K) and (L), and repeals certain existing provisions related to homeowners' insurance in Louisiana. The key changes include stipulations 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 of coverages at the time of renewal do not constitute a 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.

Furthermore, the bill introduces provisions allowing insurers to nonrenew up to five percent of their customers' policies per calendar year for any reason, with the possibility of exceeding this limit upon approval from the commissioner of insurance. It also establishes that the plans and requests submitted by insurers regarding nonrenewals are considered proprietary information. The new provisions will take effect upon the governor's signature or on January 1, 2025, for most sections, while the specific provisions regarding nonrenewals will apply only 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)