House Bill No. 561, introduced by Representative Firmant, amends existing laws regarding surplus lines insurance in Louisiana. The bill requires that each surplus lines insurance policy includes a notice indicating that it is not subject to certain provisions of the Louisiana Insurance Code, specifically those related to rate and form approval by the Department of Insurance. This notice must now be printed in a minimum font size of fourteen-point, increased from the previous ten-point requirement. Additionally, the bill clarifies that surplus lines insurers are exempt from certain jurisdiction and venue provisions, while still adhering to the stipulations of R.S. 9:2778.

The legislation aims to reaffirm the legislative intent that surplus lines insurers can include arbitration clauses in their policies without being subject to the same form requirements as other insurers, except as specified in R.S. 9:2778. The provisions regarding the notice and font size will take effect on August 1, 2025, and will apply to policies issued or renewed on or after January 1, 2026. The changes are intended to clarify existing law without making substantive alterations to the regulatory framework governing surplus lines insurance.

Statutes affected:
HB561 Original: 22:433(A), 22:868(D)
HB561 Engrossed: 22:433(A), 22:868(D)
HB561 Reengrossed: 22:433(A), 22:868(D)