Insure Louisiana Incentive Program – Public Hearing on Regulation 82

The Louisiana Department of Insurance (“Department”) adopted Emergency Rule 82 (“Rule”) in order to create standards, guidelines and procedures pertaining to the participation by property insurers in the Insure Louisiana Incentive Program (“Program”).  The Program was enacted through the passage of Act 447, during the 2007 Regular Session of the Louisiana Legislature.  For a summary of the Program, please click here.

This emergency action was necessary due to the demand for availability and affordability of property insurance, caused by Hurricanes Katrina and Rita.  The Rule went into effect on October 1, 2007 and remains in effect for a period of 120 days or until adoption of the final Regulation 82 through the normal rulemaking process, whichever occurs first.

Accordingly, a public hearing on Regulation 82 is scheduled for October 29, 2007 at 9 a.m. in the Poydras Hearing Room, Poydras Building, 1702 North Third Street, Baton Rouge, Louisiana. 

Further, as a reminder, all companies interested in participating in the Program must submit an application no later than November 1, 2007.  For more details, please click here.

 

 

Should you have any questions or comments regarding this information, please feel free to contact this office.