Senate Bill No. 137, introduced by Senator Allain, seeks to amend and reenact various sections of Louisiana's property insurance laws, specifically R.S. 22:1261 through 1271. The bill clarifies terms and conditions related to the renewal of insurance policies, prohibits the retroactive annulment of liability policies, and establishes specific time limits for submitting proof of loss after catastrophic events. Key technical amendments include changing "Any" to "An" in the context of policy renewals and ensuring that homeowners' policies apply only one deductible per incident. Additionally, insurers are required to provide written notice of nonrenewal or cancellation at least sixty days in advance and must inform policyholders about rate increases or changes in coverage.

The proposed legislation retains existing laws concerning various types of insurance, including property, casualty, liability, and commercial insurance, while making technical changes for improved clarity and functionality. It addresses the cancellation of automobile and other insurance policies, as well as provisions regarding deductibles for named storms, hurricanes, and wind and hail in commercial policies. The bill also maintains regulations on interest for refunds due to insured individuals and provisions related to the insolvency or bankruptcy of an insured party. These amendments are set to take effect on August 1, 2026, aiming to streamline and enhance the existing legal language without altering the fundamental principles of current insurance laws.

Statutes affected:
SB137 Original: 22:1261(A), 22:1264(A), 22:1265(A)(1), 22:1266(A), 22:1266(B)(2), 22:1267(A), 22:1267(B), 22:1267(B)(2), 22:1(A), 22:1(E), 22:1269(A), 22:1270(A), 22:1270(B)(1)