Louisiana HB903 removes the annual aggregate limit on fines for insurance violations.
Louisiana HB903 amends the state's insurance laws to remove the annual aggregate limit on fines for violations. Previously, fines for insurance violations were capped at specific amounts per year. This bill eliminates those caps, allowing for potentially higher fines for violations. The commissioner of insurance retains the authority to levy fines, suspend or revoke licenses, and take other administrative actions as necessary. The changes are effective upon the governor's signature or if the bill is not signed within the specified time frame.
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- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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