The Louisiana Department of Insurance (LDI) has announced a public hearing to discuss proposed amendments to Regulation 131, titled “Plan for Nonrenewal or Cancellation of Homeowners Policies in Effect and Renewed for More Than Three Years.” The hearing will take place on February 21, 2025, at 10:00 a.m. in the Poydras Hearing Room, Poydras Building, 1702 North Third Street, Baton Rouge.
The proposed changes aim to update several sections of the regulation to incorporate substantive amendments. Key modifications include:
- Amending the definition of “Homeowners Insurance” by removing references to manufactured or mobile homes.
- Revising the definition of “Insured” by eliminating the word “means.”
- Introducing a definition for “Not In The Public Interest.”
- Updating Section 20209 A.2. to require the submission of data rather than a geographic map.
- Adding a reference to the Uniform Trade Secret Act in Section 20209 B.
The amendments are intended to modernize and clarify the regulation’s language while addressing emerging concerns within the homeowners insurance market.
The Notice of Public Hearing will be officially published in the Louisiana Register on January 20, 2025. Members of the public are encouraged to participate in the hearing and share feedback on the proposed changes. Questions or comments can also be submitted via email to [email protected].
To review Regulation 131, click HERE, or visit the Louisiana Department of Insurance website.