A Louisiana bill that would make it easier for private flood insurance carriers to offer flood insurance in the state has been sent back to the House to contemplate amendments added by the Senate.
House Bill 577, by Rep. Scott McKnight, is backed by Insurance Commissioner Jim Donelon; it would give consumers choices beyond the National Flood Insurance Program.
The legislative analysis of the bill states it “would permit insurers to file flood rates and immediately begin using them. Insurers could subsequently adopt new rates provided they file change paperwork with the LDI within 30 days of use.”
