RDCSB295 3264 3212
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)]
SB 295 Reengrossed 2024 Regular Session Cloud
Present law provides rate filing requirements for all lines of property and casualty policies.
Proposed law changes the rate filing requirement for certain property, casualty, and liability
policies by requiring every insurer writing certain property, casualty, and liability policies
to file with the commissioner of insurance all rates, supplementary rate information, and all
supporting information for risks to be written by the insurer in this state. The rates and
information submitted is deemed approved unless the commissioner notifies the insurer
within 30 days from the Dept. of Insurance receiving the rate filing.
Present law authorizes the Dept. of Insurance to determine whether the information provided
in the rate filing is insufficient to determine if the rate filing meets the requirements provided
by present law. Present law provides that waiting periods commence from the date the
insurer or rating organization provides the department with sufficient information for
determining whether the rate filing is compliant with present law.
Proposed law retains present law but removes the term "waiting" from present law. Proposed
law provides rates are ineffective upon written notification from the commissioner. Proposed
law provides when rates are ineffective, the previous rate applies.
Proposed law provides if a rate filing is determined to be inadequate or unfairly
discriminatory, the commissioner may direct the insurer to collect additional premium to
ensure that the rate is adequate or require the insurer to provide the insured a refund of any
sums deemed to be discriminatory.
Proposed law provides proposed law is not to be interpreted as to create a private cause of
action.
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 Senate
Committee Amendments Proposed by Senate Committee on Insurance to the original
bill
1. Makes technical changes.
2. Provides proposed law applies to all lines of property and casualty insurance.
3. Clarifies when rates are ineffective.
4. Changes the effective date.
Summary of Amendments Adopted by Senate
Senate Floor Amendments to engrossed bill
1. Make technical corrections.
Summary of Amendments Adopted by House
Page 1 of 2 RDCSB295 3264 3212
The Committee Amendments Proposed by House Committee on Insurance to the
reengrossed bill:
1. Make technical changes.
Page 2 of 2