House Bill No. 850, introduced by Representative Firment, amends the Standard Fire Insurance Policy in Louisiana to revise the cancellation notice requirements for residential property insurance policies. The bill changes the notice period for cancellation by the insurer from 30 days to 60 days, and similarly extends the notice period for cancellation of a mortgagee interest from 30 days to 60 days. However, it maintains the existing requirement of a 10-day written notice for cancellations due to nonpayment of premium.

The bill aims to provide greater protection for policyholders by ensuring they receive more advance notice before their insurance policies are canceled. This change is intended to give insured individuals and mortgagees more time to address any issues that may lead to cancellation. The new provisions will take effect on July 1, 2026.

Statutes affected:
HB850 Original: 22:1311(F)(2)
HB850 Engrossed: 22:1311(F)(2)