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 428 Engrossed 2024 Regular Session Boyd
Abstract: Provides policyholders the option to exclude coverage of personal property with respect
to insurable property.
Present law provides for the La. Citizens Property Insurance Corp. and requires its operation of the
La. Insurance Underwriting Plan (Coastal Plan) and the La. Joint Reinsurance Plan (FAIR Plan) as
residual market insurance programs to provide access to adequate property insurance for designated
areas of the state, including the coastal areas.
Present law defines "insurable property" for coverage under the La. Citizens Property Insurance
Corp. Provides that insurable property includes real or immovable property and tangible personal
property and corporeal movable property.
Proposed law authorizes a policyholder, through written request, to exclude coverage of personal or
corporeal movable property. Authorizes an insurer to calculate an appropriate reduction in premium
if a policyholder opts to exclude coverage.
(Amends R.S. 22:2292, 2322, and 2336)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Insurance to the original bill:
1. Amend proposed law to remove the policyholder's option to limit coverage to a certain
percentage of personal property. Authorize the insurer to calculate an appropriate
reduction in premium upon the policyholder's exclusion of coverage and remove the
insurer's requirement to return a reduction in premium to the policyholder.