LOU LEG Insurer Data Reporting Bill

On Jun. 3, LOU LEG enrolled bill on licensed insurer data reporting.

  • LOU LEG enrolled bill HB 399 to provide for transmission of data relative to LOU INS.
  • Amends LOU INS 22:41.2 on data, and LOU INS 22:572.1(F) on anti-fraud provisions.
  • Bill Provisions
  • Requires licensed insurers to disclose accurate contact data of person responsible for complaints, and receipt of rules, regulations, and directives from the commissioner.
  • Also requires insurers and HMOs to submit the following additional information.
  • Includes the number of policies in effect, amount of premiums written for policies, number of claims received and claims referred to insurer for fraud investigation.
  • Also number of claims investigated or accepted by the insurer's fraud investigators.
  • The number of insurance fraud matters investigated or accepted by the insurer's fraud investigators that were not claim related, and number of cases referred to LOU INS.
  • Estimated dollar amount of losses attributable to fraudulent insurance acts, organized by type of fraud, including claimant, employer, provider, agent, and other types.
  • Legislative History
  • On Feb. 29, 2024, bill introduced in House; on Apr. 2, 2024, bill passed in House.
  • On Apr. 3, 2024, bill introduced in Senate; on May 14, 2024, bill passed in Senate.
  • On May 30, 2024, bill was enrolled; on Jun. 3, 2024, bill was sent to governor.
  • Effectiveness
  • If enacted, bill becomes effective Aug. 1, 2024.
  • Jun. 2024 LOU LEG Governor Approval
  • On Jun. 11, 2024, LOU LEG reported governor signed bill into law, became Act 614.
  • Document dated Jun. 11, 2024, received from LOU LEG Jun. 14, summarized Jun. 19.

Regulators LOU LEG
Entity Types Ins
Reference Act 614, 6/11/2024; Bill HB399, 6/3/2024; Citation: *LOU INS* 22:41.2, 22:572.1;
Functions Compliance; Financial; Fraud; Legal; Registration/Licensing; Reporting
Countries United States of America
Products Insurance
Regions Am
Rule Type Final
Rule Date 6/3/2024
Effective Date 8/1/2024
Rule Id 214299
Linked to N/A
Reg. Last Update 6/11/2024
Report Section US Insurance

Last substantive update on 06/19/2024