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 552 Engrossed 2023 Regular Session Hilferty
Abstract: Suspends the premium increase of at least 10% assessed by the La. Citizens Property
Insurance Corp. for policies issued in this state.
Present law authorizes the La. Citizens Property Insurance Corp. to charge a premium of at least 10%
higher than either of the following:
(1)The actuarially justified rate.
(2)The highest rates charged among assessable insurers that have a minimum of 2% of the total
direct written premium in each respective parish for that line of business in the preceding
year or with respect to personal lines property insurance, excluding wind and hail policies.
(3)The highest rates charged among assessable insurers in each respective parish which in the
preceding year increased additional personal lines property insurance policies by at least 25
over the total number of such policies in effect for the parish in the preceding year, excluding
wind and hail policies.
Proposed law retains present law but provides that the premium increase of at least 10% provided
for in present law (R.S. 22:2303(A)(1)) does not apply to policies issued in this state. Further
provides for expiration of proposed law on Dec. 31, 2024 at 11:59 p.m.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 22:2303(D)(1))