The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Beth O'Quin.
DIGEST
SB 162 Original 2022 Regular Session Talbot
Present law requires any insurer to give a written notice when an insurance policy is canceled or
nonrenewed and requires the notice be given to the insured, and to any known person shown on the
policy to have an interest in any loss that may occur.
Proposed law retains present law and adds if the governor declares a state of emergency for a named
storm or windstorm the insurer cannot cancel or nonrenew an insurance policy providing coverage
for property located in this state, subject to the declaration of the state of emergency, and the property
was damaged as a result of the named storm or hurricane until 90 days after the property has been
repaired.
Proposed law provides a structure is considered repaired when it is substantially completed and
restored to the extent the property would be insurable under a similar property insurance policy
offered by another insurer writing property insurance coverage in this state, except for the Louisiana
Citizens Property Insurance Corporation.
Proposed law provides if the insurer elects to cancel or nonrenew a property insurance policy, then
requires the insurer to send at least a 90-day written notice to the insured that the insurer intends to
cancel or nonrenew the insured's property insurance policy.
Proposed law provides an insurer can cancel or nonrenew a property insurance policy prior to the
property based on one of the following:
(1) Upon ten days' written notice for nonpayment of premium.
(2) Upon 30 days' written notice based on one of the following:
(a) For material misrepresentations or fraud related to the claim.
(b)When an insurer determines an insured has unreasonably caused a delay in the repair
of the dwelling.
(c) When an insurer has paid the policy limits.
(3) Upon written request from an insured.
Proposed law authorizes the commissioner to promulgate necessary rules and issue orders to
implement proposed law. Effective January 1, 2023.
(Adds R.S. 22:887(K - O))