HB941

Louisiana HB941 amends insurance laws to clarify conditions for additional insured coverage in oilfield indemnification agreements.

Louisiana HB941 amends existing insurance laws to establish specific conditions for additional insured coverage in oilfield indemnification agreements. The bill requires parties seeking additional insured coverage to request a premium quote, receive a quote, and make direct payment to the named insured's insurer. Coverage for a group is only valid if the premium is expressly quoted for group coverage and the payment is for the corresponding group amount. The named insured is not responsible for deductibles or retentions exceeding $100,000.