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 Original 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 requires that any insurer required to submit rates and rating plans to the commissioner
of insurance must provide discounted insurance premiums to an insured who builds or retrofits a
structure to comply with the requirements of the State Uniform Construction Code.
Proposed law adds that any insurer required to submit rates and rating plans to the commissioner of
insurance must provide discounted insurance premiums an insured who builds or retrofits a structure
to comply with the requirements of the fortified home or fortified commercial standards created by
the IIBHS.
Proposed law allows an insured to maintain the discounts he is receiving for meeting the
requirements of the State Uniform Construction Code or the IIBHS standards.
Present law provides that after July 1, 2022, insurers that are required to submit rating plans may
provide credits and discounts for fortified home and commercial standards by IIBHS.
Proposed law changes present law by mandating that all such insurers provide actuarially justified
discounts, credits, rate differentials, adjustments in deductible, or other adjustments to insureds who
build or retrofit to IIBHS fortified home or commercial standards.
(Amends R.S. 22:1483(A), (B), and (C)(1))