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)]
Leopold HB No. 909
Abstract: Requires homeowner's insurers to provide data on direct incurred losses, number of
policies in force, and direct earned premiums to the commissioner of insurance to
aggregate and publish on the Dept. of Insurance website.
Proposed law requires that insurance companies writing homeowner's policies annually submit to
the commissioner data on their total direct incurred losses, number of policies in force, and direct
earned premiums by zip code and parish for the prior calendar year. Further requires that the
same data be submitted dating back to the calendar year 2004.
Proposed law requires the commissioner to aggregate the data and publish aggregated yearly
totals by zip code and parish on the Dept. of Insurance website.
Proposed law also requires the commissioner to publish on the department's website a general
description of the ratemaking methodology insurance companies are allowed to use in
establishing homeowner's insurance rates.
Proposed law provides that the commissioner may issue exemptions from the reporting
requirements to companies that do not store the requested information, or if meeting the
requirements would impose an undue burden.
Proposed law provides a penalty of $10,000 per month for any company that fails to timely
comply with the reporting requirements, and further provides that the reports submitted must be
notarized and executed by an executive of the company attesting to the validity of the data
reported.
Proposed law provides that the commissioner may issue rules and regulations to implement this
Section.
Proposed law provides that the data provided by each insurer is confidential and exempt from the
Public Records Law.
(Amends R.S. 44:4.1(B)(11); Adds R.S. 22:1488)
Summary of Amendments Adopted by House Committee Amendments Proposed by House Committee on Insurance to the original bill.
1. Made technical changes.