HB 309 - Amends State Fortified Home and Commercial Standards - Louisiana Key Vote

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Title: Amends State Fortified Home and Commercial Standards

Vote Smart's Synopsis:

Vote to pass a bill that amends the states fortified home and commercial property regulations and standards.

Highlights:

  • Requires any insurer to submit rates and rating plans to the commissioner that must include any adjustment to reduce the insurance premium to the insureds who build or retrofit a structure to comply with the requirements of the fortified home or fortified commercial standards created by the Insurance Institute for Business and Home Safety (Sec. 1). 

  • Requires all insurers to submit rating plans to the commissioner that must include an actuarially justified discount, credit, rate differential, adjustment in deductible, or any other adjustment to reduce the insurance premium charged to any insured who builds or retrofits a structure to comply with the requirements of the fortified home and fortified commercial standards created by the Insurance Institute for Business and Home Safety (Sec. 1).

NOTE: A TWO-THIRDS MAJORITY OF MEMBERS ELECTED IS REQUIRED TO OVERRIDE A GOVERNOR'S VETO.

Title: Amends State Fortified Home and Commercial Standards

Title: Amends State Fortified Home and Commercial Standards

Title: Amends State Fortified Home and Commercial Standards

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