HB413

Louisiana HB413 prohibits insurers from using catastrophe-based rating factors in automobile insurance rate filings.

Louisiana HB413 amends the state's insurance rate-making standards to prohibit insurers from including any rating factor in an automobile insurance rate filing that is based solely on loss experience from a catastrophe or natural disaster affecting other lines of insurance. This prohibition does not apply to multi-line policies. The law retains the authorization for considering other relevant actuarial factors available at the time of the rate filing.