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)]
HB 317 Original 2022 Regular Session Willard
Abstract: Provides for hurricane, named storm, and wind and hail deductibles.
Present law provides that for all homeowners' insurance policies or other policies insuring a one- or
two-family owner occupied premises for fire and allied lines, issued or renewed by authorized
insurers on or after Jan. 1, 2010, 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 a calendar year.
Present law permits an insurer to apply a deductible to 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 deductibles referred
to in present law.
Proposed law retains present law.
Proposed law requires the commissioner to prescribe a separate form regarding named storm,
hurricane, and wind and hail deductibles proposed in a homeowner's insurance policy
that lists the specific amount for each deductible expressed as a percentage of the insured value of
the property, or as a specific dollar amount, or as both. The form shall be provided
by the insurer and signed by the named insured or his legal representative prior to the effective date
of the policy.
Proposed law requires the form to become a part of the homeowner's insurance policy, irrespective
of whether it is physically attached.
Proposed law provides that a new form shall be provided and signed by the insured prior to an
agreement changing the amount of any deductible.
Effective Jan. 1, 2023.
(Adds R.S. 22:1337(D))