HLS 14RS-1432 ENGROSSED
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2014
HOUSE BILL NO. 820
BY REPRESENTATIVE HUVAL
INSURANCE/FIRE-CASUALTY: Clarifies that the valued policy clause provisions apply
to all policies providing fire coverage
AN ACT1
To amend and reenact R.S. 22:1318(D), relative to fire insurance policies; to define "fire2
insurance policy"; and to provide for related matters.3
Be it enacted by the Legislature of Louisiana:4
Section 1. R.S. 22:1318(D) is hereby amended and reenacted to read as follows: 5
ยง1318. Valued policy clause; exceptions6
* * *7
D. This Section shall only apply to policies issued or renewed after January8
1, 1992, and shall not apply to a loss covered by a blanket-form policy of insurance9
nor to a loss covered by a builders risk policy of insurance. As used in this Section,10
the term "fire insurance policy" shall mean any property insurance policy, with the11
exception of builders risk policies of insurance, that provides coverage for the peril12
of fire, regardless of any other coverage provided by the policy.13
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Huval HB No. 820
Abstract: Defines "fire insurance policy" as any property insurance policy that provides
coverage against loss caused by fire, regardless of the other coverages provided by
the policy. HLS 14RS-1432 ENGROSSED
HB NO. 820
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Present law provides, with respect to fire insurance policies, that if an insurer places a
valuation on the covered property and uses that valuation to determine the premium charge,
the insurer shall compensate any covered loss at that valuation.
Present law provides that provisions relative to valued policy clauses apply to policies issued
or renewed after Jan. 1, 1992, and do not apply to a loss covered by a blanket-form policy
of insurance.
Proposed law provides that provisions relative to valued policy clauses apply to any property
insurance policy that provides coverage for a loss caused by fire.
(Amends R.S. 22:1318(D))
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Insurance to the original
bill.
1. Restored present law provisions excepting blanket-form policy insurance losses
from present law.