The Senate Resolution, introduced by Senator Foil, urges the Louisiana Department of Insurance to take measures to protect residents from being inaccurately included in claims information exchanges when they inquire about coverage or report a loss without formally filing a claim. Claims information exchanges are utilized by the insurance industry to inform pricing and underwriting decisions, and they can collect up to seven years of claims data. However, Louisiana law stipulates that a report of a loss or a question regarding coverage does not constitute a claim unless there is a demand for payment. This distinction is crucial to prevent consumers from facing unjustified premium increases or coverage denials based on inaccurate claims data.

The resolution emphasizes the importance of the Department of Insurance as the regulatory body that advocates for consumers in Louisiana's insurance market. It calls for regular reviews of reporting practices to identify trends and address systemic issues, ensuring that consumers are protected while maintaining a competitive marketplace. The resolution concludes with a directive to transmit a copy to the commissioner of insurance, reinforcing the need for oversight in claims reporting practices.