This bill amends various sections of Louisiana's property and casualty insurance laws, specifically focusing on the nonrenewal and cancellation of residential property insurance policies. Key changes include extending the required written notice period for cancellation or nonrenewal from thirty days to sixty days, unless the cancellation is due to nonpayment of premium. Additionally, insurers are now required to include the reason for cancellation or nonrenewal in the notice sent to policyholders. The bill also makes technical changes to ensure consistency in terminology, such as changing "homeowner's" to "homeowners" and "effected" to "affected."

The bill aims to enhance consumer protection by ensuring that policyholders receive adequate notice and clarity regarding their insurance policies. It specifies that notices of cancellation must be delivered via certified mail or directly to the insured, and it establishes that coverage will remain in effect until the notice period has elapsed if proper notice is not given. The effective date for these changes is set for July 1, 2026.

Statutes affected:
HB345 Original: 22:41(9), 22:887(A), 22:1335(A)
HB345 Engrossed: 22:41(9), 22:887(A), 22:1266(A)(5), 22:1267(C)(2), 22:1335(A)
HB345 Enrolled: 22:41(9), 22:887(A), 22:1266(A)(5), 22:1267(C)(2), 22:1335(A)
HB345 Act : 22:41(9), 22:887(A), 22:1266(A)(5), 22:1267(C)(2), 22:1335(A)