LOU LEG Fraudulent Insurance Acts

On May 28, LOU LEG approved bill relative to insurance fraud.

  • LOU LEG approved HB 651 on insurance fraud acts and commissioner subpoena power.
  • Provisions amended LOU INS 22:1923, LOU INS 22:1964, and LOU INS 22:2198.
  • Insurance Fraud
  • Revised fraudulent insurance act to include any type of document that misrepresents claim damages or costs of repairs, and made technical changes and cross-references.
  • If evidence that entity/person has a document re insurance fraud, the commissioner or designee may issue subpoena to compel the appearance of such person or entity.
  • Legislative History
  • On Mar. 11, 2024, bill introduced in House; on Apr. 9, 2024, bill was passed in House.
  • On Apr. 9, 2024, bill introduced in Senate; on May 8, 2024, bill was passed in Senate.
  • On May 28, 2024, bill was signed into law by the governor and became Act 389.
  • Effectiveness
  • Act 389 becomes effective as of Aug. 1, 2024.

Regulators LOU LEG
Entity Types IB; Ins
Reference Act 389, Bill HB651, 5/28/2024; Citation: *LOU INS* 22:1923, 22:1964, 22:2198;
Functions Claims/Accelerated Benefits; Compliance; Financial; Fraud; Legal
Countries United States of America
Products Insurance
Regions Am
Rule Type Final
Rule Date 5/28/2024
Effective Date 8/1/2024
Rule Id 214355
Linked to N/A
Reg. Last Update 5/28/2024
Report Section US Insurance

Last substantive update on 06/05/2024