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 613 Engrossed 2024 Regular Session Firment
Abstract: Provides relative to the ratemaking system utilized by insurers and rating organizations
submitting rate filings to the commissioner of insurance.
Present law authorizes the commissioner of insurance (commissioner) to accept, review, and approve
any application for insurance rates or changes for all lines of property and casualty insurance.
Requires the commissioner to exercise his authority according to present law.
Proposed law deletes present law.
Present law generally authorizes the commissioner to approve an insurer's rate filing, upon written
application by an insurer or rating organization, within the 45-day waiting period prescribed in
present law. Further provides that a rate filing is deemed approved by the commissioner unless the
commissioner affirmatively approves or disapproves the filing within the 45-day waiting period.
Proposed law deletes present law.
Proposed law requires every authorized insurer to file with the commissioner all rates, supplementary
rate information, and all supporting information for risks to be written by the insurer. Further
provides that rates and submitted information are deemed approved unless the insurer is notified
otherwise in writing by the commissioner within 30 days of the filing.
Proposed law provides that proposed law applies to all lines of property and casualty insurance.
Present law provides that if, after a public hearing, the commissioner determines the market to be
noncompetitive, insurers are required to make all rate filings in accordance with the 45-day waiting
period prescribed in present law.
Proposed law deletes present law to provide that rate filing information is deemed approved unless
the commissioner notifies the insurer in writing within 60 days of the filing. Further authorizes the
commissioner to approve a filing prior to expiration of notification periods.
Present law requires the commissioner to specify his reasons for disapproving the filing of an insurer
or rating organization and prohibits effectiveness of a disapproved filing.
Proposed law modifies present law to provide that a disapproved filing is ineffective as of the date
the commissioner sends written notice of disapproval. Further provides that the insurer's or rating organization's most recently approved filing will resume effectiveness.
Proposed law authorizes the commissioner to direct an insurer to collect additional premium or
refund of any sums if he deems the insurer's rate filing as inadequate or unfairly discriminatory.
Proposed law does not create a private cause of action.
Proposed law makes technical changes to citations and references.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Amends R.S. 22:1451, 1464(A)(2) and (D), and 1465(A)(2) and (B)(1); Adds R.S. 22:1465(A)(4)
and (D))
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Insurance to the original bill:
1. Apply proposed law to all lines of property and casualty insurance.
2. Make technical changes.