LOU LEG Insurance Advisory Boards

On May 28, LOU LEG enacted bill re insurance boards, commissions.

  • LOU LEG enacted Bill SB 367 re insurance boards and commissions and membership.
  • Provides that LOU INS has the power to create advisory boards, set membership rules.
  • Amends provisions in LOU LEG 14:98, LOU INS 22:2161, LOU INS 22:2171, LOU INS 22:2242, LOU LEG 36:694.1, LOU LEG 36:686, LOU LEG 40:1421, LOU LEG 40:1428.
  • Insurance Boards and Commissions
  • Removes location of funds for the study of drunk driving and insurance rates from Louisiana Property and Casualty Insurance Commission to Insurance Department.
  • Commissioner can create advisory boards with representatives of insurers, insurance producers, consumers of insurance products not connected to the insurance industry.
  • Commissioner will also appoint members of the board from a diverse range of persons.
  • Will additionally report annually regarding the activities of the advisory boards.
  • Department can set up pilot health insurance programs to increase insurance access.
  • Removed allocation for Automobile Theft and Insurance Fraud Prevention Authority.
  • Legislative History
  • On Mar. 11, 2024, bill introduced in Senate; on May 20, 2024, bill passed in Senate.
  • On Mar. 21, 2024, bill delivered to House; on May 15, 2024, bill was passed in House.
  • On May 23, 2024, bill sent to governor; on May 28, 2024, bill was signed by governor.
  • On May 28, 2024, bill became Act 339, and will become effective as of Aug. 1, 2024.
  • Effectiveness
  • Act 339 becomes effective on Aug. 1, 2024.

Regulators LOU LEG
Entity Types Ins
Reference Act 339, Bill SB367, 5/28/2024; Citation: *LOU LEG* 14:98, 36:694.1, 36:686, 40:1421, 40:1428; *LOU INS* 22:2161, 22:2171, 22:2242;
Functions Legal; Operations
Countries United States of America
Products Insurance
Regions Am
Rule Type Final
Rule Date 5/31/2024
Effective Date 8/1/2024
Rule Id 214348
Linked to N/A
Reg. Last Update 5/31/2024
Report Section US Insurance

Last substantive update on 06/05/2024