HB612

Louisiana HB612 prohibits insurers from considering any advertising expenses when setting rates.

Louisiana HB612 amends insurance rate regulation by prohibiting insurers from considering any advertising expenses when setting rates. The bill modifies the definition of "expenses" to exclude institutional advertising expenses and updates the rating standards to reflect this change. Additionally, it repeals the existing definition of "institutional advertising expenses." This legislation aims to ensure that insurance rates are based on operational and anticipated future expenses rather than promotional costs.