SLS 22RS-2274 ORIGINAL
2022 Regular Session
SENATE RESOLUTION NO. 99
BY SENATOR TALBOT
INSURANCE COMMISSIONER. Urges the Commissioner of Insurance to study the issue
of notice of cancellation or nonrenewal of a property insurance policy that provides coverage
for property damaged by a named storm or windstorm.
1 A RESOLUTION
2 To urge and request the Commissioner of Insurance to study the issue of notice of
3 cancellation or nonrenewal of a property insurance policy that provides coverage for
4 property damaged by a named storm or windstorm.
5 WHEREAS, losses that arose due to a catastrophic event for which a state of disaster
6 or emergency was declared by civil officials for those areas within the declaration, any
7 policyholder with replacement cost provisions shall be entitled to complete repairs to their
8 property within one year from the date of loss or the issuance of applicable insurance
9 proceeds, whichever is later, and adherence to this provision shall entitle the policyholder
10 with a replacement cost provision to receive full value of the covered damage that has been
11 repaired, without reduction due to depreciation according to R.S. 22:1264; and
12 WHEREAS, no insurer providing property, casualty, or liability insurance shall
13 cancel or fail to renew a homeowner's insurance policy that has been in effect and renewed
14 for more than three years unless based on nonpayment of premium, fraud of the insured, a
15 material change in the risk being insured two or more claims within a continuous three-year
16 period of time within the five years preceding the current policy renewal date, or if
17 continuation of such policy endangers the solvency of the insurer according to R.S. 22:1265;
18 and
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SLS 22RS-2274 ORIGINAL
1 WHEREAS, policyholders in Louisiana have filed over seven hundred thousand
2 insurance claims for property damages caused by hurricanes Laura, Delta, Zeta, and Ida; and
3 WHEREAS, a policyholder is faced with a serious challenge of completing property
4 repairs within the one year timeframe due to the extent of the devastation and the limited
5 availability of contractors, equipment, and labor; and
6 WHEREAS, a policyholder that does not complete repairs as required by law may
7 be subject to his property insurance coverage being canceled or nonrenewed pursuant to R.S.
8 22:1267; and
9 WHEREAS, policyholders who have tried but struggled to comply with the
10 requirements of R.S. 22:1265 are now receiving notices that their property insurance
11 coverage is being canceled or nonrenewed.
12 THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
13 does hereby urge and request the Commissioner of Insurance to study the issue of notice of
14 cancellation or nonrenewal of a property insurance policy that provides coverage for
15 property damaged by a named storm or windstorm and to report his findings and
16 recommendations to the Senate and House Committees on insurance not later than
17 February 1, 2023.
18 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
19 Commissioner of Insurance.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Beth O'Quin.
DIGEST
SR 99 Original 2022 Regular Session Talbot
Requests the Commissioner of Insurance to study the issue of notice of cancellation or
nonrenewal of a property insurance policy that provides coverage for property damaged by
a named storm or windstorm.
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