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PIA Legislative Update

After being two votes shy of killing HB 137 on the House Floor week before last, it passed out of the Senate Insurance Committee last week and then on the Senate Floor yesterday. Unfortunately, we were unsuccessful in getting either of the two amendments below that we were trying to add to the bill:

Amendment 1
On page 2, add line 9 and insert, "Fees, in lieu of commission, shall be refundable to the insured at the same percentage as returned premium, if the insured cancels the policy during any time within the policy period. This shall not include agency fees as outlined in LSA-R.S. 22:855 (B)(2)(a)."

Amendment 2
On page 2, add line 9, insert, "Fees, in lieu of commission, shall be no more than the amount of what the commission would have been, if commission would have been paid, for the period of the contract of insurance."

The proponents of this bill lobbied very hard to make sure these consumer-friendly amendments were not added to the bill in fear of it going back to the House side. We are disappointed that we were not able to kill this legislation, which is not good for our industry. You have our commitment that we will now work with the Department of Insurance in the implementation process of the legislation to protect our agency members to the best of our ability.

We appreciate all of you that contacted your legislators to vote NO to this bill as well as Senate version of this legislation (SB 96).

Thanks to Our 2023 PIA Partners:
AFCO Capital Premium Financing CRC Group Gulf States Insurance Co.
LRA Workers' Comp National General, an Allstate company Stonetrust Insurance
Professional Insurance Agents of Louisiana
4021 W. E. Heck Ct., Building K • Baton Rouge, Louisiana 70816
(800) 349-3434 • (225) 766-7770 • (225) 766-1601 (fax)