The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Jerry J. Guillot.
DIGEST
SB 70 Original 2021 Regular Session Abraham
Proposed law provides that for all authorized property insurance policies and authorized commercial
multi-peril insurance policies issued or renewed by an authorized insurer on or after August 1, 2021,
any separate deductible that applies in place of any other deductible to loss or damage resulting from
a named storm or hurricane shall be applied on an annual basis to all named storm or hurricane
losses that are subject to the separate deductible during the calendar year.
Proposed law permits an insurer to apply a deductible to the succeeding named storms or hurricanes
that is equal to the remaining amount of the separate deductible, or the amount of the deductible that
applies to all perils other than a named storm or hurricane, whichever is greater, if an insured incurs
named storm or hurricane losses from more than one named storm or hurricane during a calendar
year that are subject to the separate deductible referred to in proposed law.
Effective August 1, 2021.
(Adds R.S. 22:1267.1)