SB137

Louisiana SB137 amends property insurance regulations, including renewal, cancellation, and insolvency provisions.

Louisiana SB137 amends existing property insurance laws to retain current regulations while making technical changes. The bill addresses policy renewals, cancellations, and insurer obligations. Insurers must provide written notice of nonrenewal at least 60 days prior to expiration, except for nonpayment of premiums, which requires 10 days' notice. Insurers must specify reasons for nonrenewal upon request. The bill also retains provisions for insolvency of the insured, presumption of coverage during declared emergencies, and direct action against insurers. Effective August 1, 2026.