Louisiana SB341 allows churches and nonprofit religious organizations to form self-insurance pools for commercial coverages.
Louisiana SB341 amends existing law to allow churches and nonprofit religious organizations to form self-insurance pools for commercial coverages, including property, liability, and other types of insurance. The bill defines "commercial coverage" and requires organizations to have a positive net worth and be financially solvent. The Louisiana State Law Institute is directed to update relevant statutes. The commissioner of insurance must approve the creation of pools for commercial coverages analogous to private market offerings.
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