HB1225

Louisiana HB1225 enacts the "Louisiana Fair Insurance Modeling and Transparency Act" to enhance transparency and accountability in residential.

HB1225 establishes requirements for catastrophe modeling used in residential property insurance rate filings. It mandates insurers to include a standardized disclosure in their rate filings, detailing the model vendor, exposure data, and whether the model incorporates post-mitigation conditions. Insurers must also provide a sensitivity analysis comparing modeled losses under full recognition of post-mitigation conditions versus conservative or pre-mitigation conditions.