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SB 323 - Amends and Defines Certain Insurance Terms - Louisiana Key Vote

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Title: Amends and Defines Certain Insurance Terms

Signed by Governor Jeff Landry


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Title: Amends and Defines Certain Insurance Terms

Vote Smart's Synopsis:

Vote to concur with house amendments and pass a bill that amends and defines certain insurance terms and establishes tighter deadlines for insurers to initiate loss adjustments.

Highlights:

  • Defines terms such as “catastrophic loss,” “immovable property,” and “residential property.” into state law (Sec. 1).

  • Establishes tighter deadlines for insurers to initiate loss adjustments, 14 days for non-catastrophic and 30 days post-catastrophe, with potential extensions by state officials (Sec. 1).

  • Specifies that the provisions of this bill shall become effective July 1, 2024 (Sec. 4).

Full Bill Text

Title: Amends and Defines Certain Insurance Terms

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