SLS 22RS-336 ORIGINAL
2022 Regular Session
SENATE BILL NO. 150
BY SENATOR LUNEAU
INSURANCE CLAIMS. Provides relative to hurricane, named-storm, and wind and hail
deductibles. (1/1/23)
1 AN ACT
2 To enact R.S. 22:1337(D), relative to homeowners' insurance; to provide for policy
3 deductibles as applied to named-storm, hurricane, and wind and hail deductibles; to
4 require the execution of a separate form listing the specific amount for each
5 deductible expressed as a percentage of the insured value of the property or as a
6 specific dollar amount or both; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 22:1337(D) is hereby enacted to read as follows:
9 ยง1337. Homeowners' insurance deductibles applied to named-storms, hurricanes,
10 and wind and hail deductibles
11 * * *
12 D.(1) The commissioner shall prescribe a separate form regarding
13 named-storm, hurricane, and wind and hail deductibles proposed in a policy of
14 homeowners' insurance. The form shall list the specific amount for each
15 deductible expressed as a percentage of the insured value of the property, or as
16 a specific dollar amount, or as both. The form shall be provided by the insurer
17 and signed by the named insured or his legal representative prior to the
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 150
SLS 22RS-336 ORIGINAL
1 effective date of the insurance policy.
2 (2) The signed form shall become a part of the policy, irrespective of
3 whether physically attached to the policy. The new form shall be provided as
4 required by this Subsection and signed by the insured prior to any agreement
5 changing the amounts of any deductibles.
6 Section 2. This Act shall become effective on January 1, 2023; if vetoed by the
7 governor and subsequently approved by the legislature, this Act shall become effective on
8 January 1, 2023, or on the day following such approval by the legislature, whichever is later.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Whitney Kauffeld.
DIGEST
SB 150 Original 2022 Regular Session Luneau
Present law provides 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 January 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 physically attached. A new form shall be provided and signed by the
insured prior to an agreement changing the amounts of any deductibles.
Proposed law provides forms for the proposed policy amounts of any deductibles.
Effective January 1, 2023.
(Adds R.S. 22:1337(D))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.