Louisiana HB831 prohibits charging different prices for the same product or service based solely on insurer payment in property damage claims.
Louisiana HB831 aims to prevent unfair pricing practices in property damage claims under property and casualty insurance policies. It prohibits individuals from charging different prices for the same product or service based primarily on insurer payment. The bill also prohibits insurers from inconsistently applying pricing sources when using a primary estimating tool or database. Exceptions include adjustments based on independent appraisals, engineering reports, local market conditions, and good faith negotiations.
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