The bill, introduced by Senator Barrow, enacts a new provision under R.S. 22:1339 that mandates homeowners to disclose if their property is being used or will be used as a group home when applying for a new homeowner's insurance policy or at any time during the policy's term. This requirement aims to ensure that insurers are fully informed about the use of the property, which may affect the risk assessment and coverage terms.
Failure to disclose this information will give insurers the right to cancel or refuse to renew the homeowner's insurance policy, as outlined in the existing law under R.S. 22:1333(B). The bill is set to take effect upon the governor's signature or, if vetoed, upon subsequent legislative approval.