HLS 23RS-460 ENGROSSED
2023 Regular Session
HOUSE BILL NO. 294
BY REPRESENTATIVE WILLARD
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
INSURANCE/PROPERTY: Provides for certain insurance premium discounts
1 AN ACT
2To amend and reenact R.S. 22:1483(A), (B), and (C)(1), relative to property insurance
3 premium discounts; to provide for certain building standards; to require certain
4 discounts; to provide an option for certain discounts; and to provide for related
5 matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:1483(A), (B), and (C)(1) are hereby amended and reenacted to
8read as follows:
9 ยง1483. Premium discounts, credits, rate differentials, adjustments in deductibles,
10 and other adjustments for compliance with building codes and for damage
11 mitigation
12 A. Any insurer required to submit rates and rating plans to the commissioner
13 of insurance shall provide an actuarially justified discount, credit, rate differential,
14 adjustment in deductible, or any other adjustment to reduce the insurance premium
15 to insureds who build or retrofit a structure to comply with the requirements of the
16 State Uniform Construction Code or the fortified home or fortified commercial
17 standards created by the Insurance Institute for Business and Home Safety.
18 B. Any insurer required to submit rates and rating plans to the commissioner
19 of insurance shall provide an actuarially justified discount, credit, rate differential,
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 23RS-460 ENGROSSED
HB NO. 294
1 adjustment in deductible, or any other adjustment to reduce the insurance premium
2 to insureds who install mitigation improvements or retrofit their property utilizing
3 construction techniques demonstrated to reduce the amount of loss from a windstorm
4 or hurricane. Such mitigation improvements or construction techniques shall include
5 but not be limited to roof deck attachments; secondary water barriers; roof coverings;
6 brace gable ends; construction techniques which enhance or reinforce roof strength;
7 roof-covering performance; roof-to-wall strength, wall-to-floor-to-foundation
8 strength; opening protection; and window, door, and skylight strength.
9 C.(1) After July 1, 2022, all All insurers required to submit rating plans to
10 the commissioner may, if actuarially justified, provide credits and discounts in
11 compliance with shall provide an actuarially justified discount, credit, rate
12 differential, adjustment in deductible, or any other adjustment to reduce the
13 insurance premium charged to any insured who builds or retrofits a structure to
14 comply with the requirements of the fortified home and fortified commercial
15 standards created by the Insurance Institute for Business and Home Safety. Any
16 homeowner who is currently receiving discounts pursuant to this Section may opt to
17 maintain discounts offered prior to July 1, 2022, if the homeowner continues to meet
18 the requirements to maintain such discounts, in lieu of the discount provided in this
19 Subsection.
20 * * *
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 294 Engrossed 2023 Regular Session Willard
Abstract: Provides for insurance premium discounts for insureds who comply with the
Insurance Institute for Business and Home Safety (IIBHS).
Present law provides that any insurer required to submit rates and rating plans to the
commissioner of insurance shall provide an actuarially justified discount, credit, rate
differential, adjustment in deductible, or any other adjustment to reduce the insurance
premium to insureds who build or retrofit a structure to comply with the requirements of the
State Uniform Construction Code or the IIBHS.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 23RS-460 ENGROSSED
HB NO. 294
Proposed law retains present law and obliges insurers to provide an actuarially justified
discount, credit, rate differential, adjustment in deductible, or any other structure to insureds
who build or retrofit a structure to comply with the requirements of the fortified home or
fortified commercial standards created by the IIBHS.
Present law provides that any insurer required to submit rates and rating plans to the
commissioner of insurance shall provide an actuarially justified discount, credit, rate
differential, adjustment in deductible, or any other adjustment to reduce the insurance
premium to insureds who install mitigation improvements or retrofit their property utilizing
construction techniques demonstrated to reduce the amount of loss from a windstorm or
hurricane.
Present law provides that after July 1, 2022, all insurers required to submit rating plans to
the commissioner may, if actuarially justified, provide credits and discounts in compliance
with the fortified home and fortified commercial standards created by the Insurance Institute
for Business and Home Safety.
Proposed law removes the effective date.
Proposed law makes it mandatory for an insurer to provide actuarially justified discounts,
credits, rate differentials, and adjustments in deductibles to any insured who builds or
retrofits a structure to comply with the requirements of the Insurance Institute for Business
and Home Safety.
Present law provides that any homeowner who is currently receiving discounts pursuant to
this Section may opt to maintain discounts offered prior to July 1, 2022, if the homeowner
continues to meet the requirements to maintain such discounts, in lieu of the discount
provided in this Subsection.
Proposed law repeals present law.
(Amends R.S. 22:1483(A), (B), and (C)(1))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Insurance to the
original bill:
1. Remove the authorization of an insured who is already receiving discounts to
opt to maintain those discounts in lieu of the discounts provided in present law,
if the property continues to meet the requirements for such discounts.
2. Make technical changes.
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.