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.
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.