Signed by Governor Jeff Landry

Vote Smart's Synopsis:

Vote to amend and pass a bill that amends and revises property, casualty, and liability rate filing requirements in Louisiana.

Highlights:

• Amends and revises property/casualty and liability rate filing requirements in Louisiana (Sec. 1).

• Specifies rates and related information submitted by carriers are deemed approved if not explicitly rejected by the commissioner within 30 days of submission (Sec. 1).

• Authorizes the commissioner to adjust rates deemed inadequate or unfairly discriminatory, requiring insurers to collect additional premiums or issue refunds (Sec. 1).

• Specifies that the provisions of this bill shall become effective immediately upon passage and approval by the governor (Sec. 2).

Full Bill Text