House Bill No. 148, introduced by Representative Wiley, amends R.S. 22:881.1 to enhance transparency for policyholders of homeowners' and private passenger motor vehicle insurance. The bill mandates that insurers provide the premium amount from the last issued policy alongside the renewal premium when a renewal policy is issued. This prior premium must be prominently displayed in close proximity to the renewal premium, ensuring that policyholders can easily compare their current and previous premium amounts.

Additionally, the bill retains existing requirements for insurers to disclose all available discounts that may reduce premiums, ensuring that this information is communicated clearly and effectively to policyholders. The language of the bill clarifies that these disclosure requirements do not apply to excess and surplus lines of insurance. Overall, the legislation aims to improve consumer awareness and understanding of insurance costs during the renewal process.

Statutes affected:
HB148 Original:
HB148 Engrossed: