Senator Jeremy Stine Announces Major Storm Victims’ Insurance Reform Package
Lake Charles, LA — Senator Jeremy Stine (R-Lake Charles, LA) announced a major insurance reform package for storm victims across Louisiana. This pre-filed legislative package will put in place protective measures for policyholders, inform policyholders of their rights, and establish non-adversarial dispute procedures.
“From Calcasieu Parish to Terrebonne, the people of Louisiana deserve substantive policies that disincentivize bad actors from hurting our hurricane-ravaged communities,” Stine said. “This legislative package is designed to deliver the accountability and transparency many storm victims desperately needed following multiple federally declared natural disasters.”
Stine’s Insurance Package includes seven legislative instruments listed below:
SB 208 Requires an insurer pay increased penalties for not timely paying a property insurance claim that is related to a catastrophic event
SB 209 Authorizes the commissioner of insurance to order certain penalties to persons engaging in an unfair method of competition or an unfair or deceptive act or practice.
SB 210 Authorizes fine in lieu of suspension or revocation of certificate of authority for foreign or alien insurers.
SB 212 Establishes the Hurricane Mediation Program.
SB 232 Provides for a catastrophe claim process disclosure.
SB 330 Establishes a registered adjuster database.
SB 331 Provides for transparency involving residential or commercial property damaged by a named storm or windstorm.