Title: Amends and Defines Certain Insurance Terms
Signed by Governor Jeff Landry
Title: Amends and Defines Certain Insurance Terms
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.
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).
Title: Amends and Defines Certain Insurance Terms
Title: Amends and Defines Certain Insurance Terms
Title: Amends and Defines Certain Insurance Terms