The original instrument was prepared by Jerry J. Guillot. The following digest, which
does not constitute a part of the legislative instrument, was prepared by Leonore
Heavey.
DIGEST
SB 70 Engrossed 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)
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Insurance to the original bill
1. Makes technical changes.