House Bill No. 561, introduced by Representative Firmant, amends existing provisions related to surplus lines insurance in Louisiana. The bill requires that every surplus lines insurance policy includes a notice indicating that it is not subject to certain provisions of the Louisiana Insurance Code, specifically those concerning 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 regarding arbitration clauses.

The legislative intent behind this bill is to reaffirm the existing freedom of surplus lines insurers to include arbitration clauses in their policies without being subject to the usual form requirements of the Louisiana Insurance Code, except as specified in R.S. 9:2778. The amendments to R.S. 22:433(A) and (B)(2) will take effect on August 1, 2025, and will apply to policies issued or renewed on or after January 1, 2026. The provisions regarding jurisdiction and venue for surplus lines insurers will become effective upon the governor's signature or the expiration of the time for gubernatorial action.

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)