ENROLLED
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Regular Session, 2014
HOUSE BILL NO. 909
BY REPRESENTATIVE LEOPOLD
AN ACT1
To amend and reenact R.S. 44:4.1(B)(11) and to enact R.S. 22:1488, relative to disclosures2
by homeowner's insurers; to require insurers authorized to issue homeowner's3
policies in Louisiana to provide policy and premium information; to provide for the4
commissioner of insurance publishing aggregate information on homeowner's5
policies in force and the direct incurred losses of insurers; to provide for the6
commissioner of insurance publishing a description of the actuarial model used for7
homeowner's properties risk and other related data; to provide penalties for8
noncompliance by insurers; to provide for an exemption from the Public Records9
Law; and to provide for related matters.10
Be it enacted by the Legislature of Louisiana:11
Section 1. R.S. 22:1488 is hereby enacted to read as follows: 12
§1488. Homeowner's insurance clarity; publication of aggregate data; penalties13
A.(1)(a) Each insurance company authorized to write homeowner's insurance14
in this state shall annually submit to the commissioner, commencing on or before15
May 1, 2015, for homeowner's insurance policies, the total amount of direct paid16
losses reported by peril less all deductibles, the number of policies written, and the17
direct written premiums for the prior calendar year. The insurance company shall18
report the computations to the commissioner by zip code and parish. The19
information received by the commissioner shall be aggregated across all insurance20
companies collectively, and the aggregated totals shall be arranged by zip code and21
parish.22
(b) "Homeowner's insurance" as used in this Section shall include23
condominium insurance, residential fire insurance, renter's and tenant's insurance,24
and mobile home and manufactured housing insurance.25 ENROLLEDHB NO. 909
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(c) Creditor-placed homeowner's insurance, condominium association1
insurance, and commercial insurance are excluded from the requirements of this2
Section.3
(2) The commissioner shall compile and publish on the Department of4
Insurance website by June first annually the aggregated total of the data provided in5
Paragraph (1) of this Subsection by zip code and parish for the prior calendar year.6
(3) Each insurance company authorized to write homeowner's insurance in7
this state shall annually submit to the commissioner, commencing on or before May8
1, 2015, computations of the direct paid losses by peril, the number of policies9
written, and direct written premiums, by zip code and parish, by calendar year for the10
prior calendar year, for each of the following perils:11
(a) Fire.12
(b) Wind and hail.13
(c) Catastrophe wind and hail per data call by the commissioner.14
(d) Flood.15
(e) All other perils.16
(4) The commissioner shall post a link to the data on the Department of17
Insurance website in a prominent position on the website's home page.18
B. The commissioner shall post on the Department of Insurance website a19
general description of the ratemaking methodology that the commissioner permits20
insurance companies to use in establishing their homeowner's insurance rates.21
C.(1) Commencing on or before May 1, 2015, each insurance company22
authorized to write homeowner's insurance in this state shall provide the information23
required pursuant to Subsection A of this Section, commencing with the 200424
calendar year. Voluntary submissions of the information required by Subsection A25
of this Section for calendar years prior to 2004 may be submitted and shall be26
compiled and posted by the commissioner in the same manner.27
(2) The commissioner shall compile the aggregated totals for each calendar28
year submitted and publish the aggregated totals on the Department of Insurance29
website pursuant to Paragraph (A)(2) of this Section.30 ENROLLEDHB NO. 909
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D.(1) Upon written request of an insurance company, the commissioner may1
modify or extend for an additional time period, for good cause shown, the reporting2
requirements of this Section. Any modifications or extensions granted by the3
commissioner shall be noted on the Department of Insurance website, along with a4
projected date of compliance. Good cause may include but is not limited to either5
of the following:6
(a) The insurance company's limited percentage of the total homeowner's7
insurance market in this state.8
(b) The undue burden of compiling and reporting computation, data, and9
other information required by this Section due to the manner, format, or method in10
which the insurance company has stored the computations, data, or other information11
required.12
(2) Any insurance company that fails to timely comply with the reporting13
requirements of this Section shall be given notice by the commissioner of the failure14
and provided thirty days to comply. Any insurance company that fails to comply on15
or before the thirtieth day, unless modified or extended by the commissioner, shall16
be fined ten thousand dollars per month by the commissioner until the date of17
compliance. Any funds collected pursuant to this Paragraph shall be deposited into18
the state general fund. These fines shall not be waived or reduced except by an act19
of the legislature.20
(3) The commissioner shall waive or modify the reporting requirements of21
this Section if an insurance company meets any of the following criteria:22
(a) Does not store the computations, data, or other information required.23
(b) Is required to materially upgrade, modify, redevise, or reprogram24
computer systems to provide the computations, data, or other information required.25
(c) Is required to significantly divert limited resources to provide the26
computations, data, or other information required.27
E. Any information reported to the commissioner by an insurer as required28
by this Section shall be treated as confidential. Use of the information is limited29
solely to the purposes authorized in this Section, and the information submitted by30 ENROLLEDHB NO. 909
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each insurer pursuant to this Section shall be exempt from the Public Records Law,1
R.S. 44:1 et seq.2
F. Each report submitted by an insurance company pursuant to this Section3
shall include a notarized affidavit executed by an executive of that company attesting4
to the validity of the data reported.5
G. The commissioner may issue such rules and regulations as may be6
necessary or proper to carry out the provisions of this Section. Such rules and7
regulations shall be promulgated and adopted in accordance with the Administrative8
Procedure Act, R.S. 49:950 et seq.9
H. The provisions of this Section shall become void on May 1, 2017.10
Section 2. R.S. 44:4.1(B)(11) is hereby amended and reenacted to read as follows:11
§4.1. Exceptions12
* * *13
B. The legislature further recognizes that there exist exceptions, exemptions,14
and limitations to the laws pertaining to public records throughout the revised15
statutes and codes of this state. Therefore, the following exceptions, exemptions, and16
limitations are hereby continued in effect by incorporation into this Chapter by17
citation:18
* * *19
(11) R.S. 22:2, 14, 31(B), 42.1, 88, 244, 461, 572, 572.1, 574, 618, 732, 752,20
753, 771, 1019.2(B)(5)(a), 1203, 1460, 1466, 1488, 1546, 1644, 1656, 1723, 1927,21
1929, 1983, 1984, 2036, 230322
* * *23
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: