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, commencing on or before
May 1, 2015. Further requires that the same data be submitted dating back to the calendar year
2004.
Proposed law requires the commissioner, by June first annually, 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
proposed law.
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.
Committee Amendments Proposed by House Committee on House and Governmental Affairs
to the engrossed bill.
1. Changes the initial deadline for insurance companies to submit the information to the
commissioner from Feb. 1, 2015, to May 1, 2015.
2. Changes the deadline for the commissioner to annually compile and publish the
aggregated data on the Dept.'s website from March first to June first.
3. Made technical changes.
House Floor Amendments to the reengrossed bill.
1. Made technical changes.