Provides relative to property insurance. (8/1/26)

Senate Bill 137 amends multiple sections of Louisiana's insurance code relating to property, casualty, and liability insurance policies. The legislation makes technical corrections and modernizes the language throughout R.S. 22:1261 through 1271, replacing outdated phrasing such as "shall be applicable," "such," and "it's" with clearer contemporary terminology including "apply," "applies," "the," and "the insurer." The substantive provisions of the existing law regarding policy renewals, cancellations, nonrenewals, proof of loss requirements following catastrophic events, deductible limitations, notice requirements, and interest on refunds remain functionally unchanged. This is primarily a statutory cleanup measure that preserves all substantive protections and regulatory requirements while improving the clarity and consistency of the statutory language governing how insurers must operate within Louisiana.

The bill affects all insurers operating in Louisiana that issue property, casualty, liability, commercial, and automobile insurance policies, as well as policyholders holding such coverage. Insurance companies must continue to comply with the existing notice requirements, premium limitations, cancellation procedures, and deductible restrictions, now expressed in clearer statutory language. Policyholders retain all existing protections including the requirement that insurers provide reasons for cancellation or nonrenewal upon request, the prohibition against multiple deductibles for single incidents, the extended time to submit proof of loss following declared disasters, and the entitlement to interest on refunds due after thirty days. Insurance premium finance companies remain subject to cooperation requirements with the Louisiana Department of Insurance during investigations regarding financed policies.

These amendments operate within Louisiana's comprehensive insurance regulatory framework established in Title 22 of the Louisiana Revised Statutes, which grants the Commissioner of Insurance authority to regulate insurance practices and protect consumers. The existing statutory structure governing commercial insurance, personal insurance, cancellation procedures, and deductible practices for named storms and hurricanes continues unchanged in its legal effect. The technical nature of these revisions means they do not alter the constitutional balance between regulatory authority and industry operations or create new substantive rights or obligations. The effective date is August 1, 2026.