This bill amends several sections of Louisiana's insurance regulations, specifically focusing on the powers and duties of the commissioner of insurance regarding rate filings and methods. Key changes include the requirement for insurers to disclose prior premium amounts alongside renewal policies for homeowners' and private passenger motor vehicle insurance. Additionally, the bill mandates that all discounts offered by insurers must be clearly communicated to policyholders, and it establishes guidelines for public inspection of rate filings, including the determination of whether certain information is confidential or proprietary.

The bill also modifies the definitions and standards related to rate regulation, clarifying that rates must not be excessive, inadequate, or unfairly discriminatory. It removes previous provisions that differentiated between competitive and noncompetitive markets, allowing for a more uniform approach to rate disapproval by the commissioner. Furthermore, the bill repeals several outdated sections of the law, streamlining the regulatory framework for insurance rates in Louisiana.

Statutes affected:
HB148 Original:
HB148 Engrossed:
HB148 Reengrossed: 22:1452(C), 22:1454(A), 22:1465(A)(1), 22:1451(D), 22:1452(C)(4)
HB148 Enrolled: 22:1452(C), 22:1454(A), 22:1464(D), 22:1465(A)(1), 22:1451(D), 22:1452(C)(4)
HB148 Act : 22:1452(C), 22:1454(A), 22:1464(D), 22:1465(A)(1), 22:1451(D), 22:1452(C)(4)