LOU LEG Ins Directives Compliance

On May 16, LOU LEG passed bill re consumer complaint directives.

  • LOU LEG passed bill HB 257 re penalties for failure to comply with LOU INS directives.
  • Amends LOU INS 22:1995(A), departmental complaint directives; failure to comply.
  • Bill Provisions
  • Adds fines according to timeframes if person fails to comply with with any directive issued by the commissioner of insurance in connection with a consumer complaint.
  • If the person fails to comply within 30 days of the directive, may be fined up to $250.
  • Also, within 60 days, a fine up to $500; and within 75 days, a fine up to $1,000.
  • Legislative History
  • On Feb. 27, 2024, bill introduced to House; on Mar. 26, 2024, bill passed House.
  • On Mar. 26, 2024, bill introduced to Senate; on May 14, 2024, bill passed Senate.
  • On May 15, 2024, bill enrolled; on May 16, 2024, bill sent to the governor.
  • Effectiveness
  • Acts enacted during regular sessions effective on Aug.1 or on effective date stated.
  • May 2024 LOU LEG Governor Approval
  • On May 21, 2024, LOU LEG reported governor approved bill HB 257 as Act No. 111.

Regulators LOU LEG
Entity Types CNSM; Ins
Reference Act 111, 5/21/2024; Bill, HB257, 5/16/2024; Citation: LOU INS 22:1995(A);
Functions Complaints; Compliance; Financial; Legal
Countries United States of America
Products Insurance; Insurance-Casualty; Insurance-Health; Insurance-Life; Insurance-Property
Regions Am
Rule Type Final
Rule Date 5/16/2024
Effective Date 8/1/2024
Rule Id 212378
Linked to N/A
Reg. Last Update 5/21/2024
Report Section US Insurance

Last substantive update on 05/27/2024