LAC 37:XIII.20203. Purpose

A. The purpose of Regulation 131 is to implement the provisions of Act 2024, No. 9 of the Regular Session of the Louisiana Legislature, which allows an insurer to notify the commissioner of its plan to nonrenew or cancel up to five percent of its insureds’ homeowners policies in a calendar year that have been in effect for at least three years on or before August 1, 2024, for any reason and to request the commissioner’s approval of a plan to nonrenew or cancel more than five percent of its insureds’ homeowners policies in a calendar year that have been in effect for three years or more on or before August 1, 2024.