Boonie's Blog

✅ Passed #Louisiana P&C #Insurance Legislation

JoeBoonie — Tue, 22 Jul 2025 00:17:17 GMT

✅ Passed #Louisiana P&C #Insurance Legislation

1. House Bill 148 (Act No. 11) — Effective August 1, 2025

Empowers the Insurance Commissioner to reject rate increases deemed excessive, inadequate, or unfairly discriminatory.

Allows ordering refunds or additional premiums depending on findings.

Requires prior-policy premium disclosure: the previous premium must be prominently displayed near the renewal premium on policy notices.

2. Insurance & Tort Reform Package — Signed mid‑2025

Multiple auto‑insurance and legal reform acts became law, including:

Act 15 (HB 431): Implements modified comparative fault, disqualifying anyone ≥ 51% at fault from recovering damages (effective Jan 1, 2026).

Act 18 (HB 450): Repeals the Housely presumption, requiring plaintiffs to prove injuries arose from the accident, instead of relying on prior treatment gaps.

Act 85 (HB 438): Bars insurers from including institutional advertising expenses when setting rates (effective Jan 1, 2026).

House Bill 434 (“No Pay‑No Play” reform): Uninsured drivers can’t recover the first $100,000 in bodily injury or property damage (effective Aug 1, 2025); also imposes cost‑bearing requirements on small awards.

Additional laws include caps on non-economic damages against unauthorized immigrants, new prescriptions for wrongful death claims, and rate‑transparency reporting provisions .

3. Property Insurance Regulation Enhancements

A set of reforms aimed at bolstering property insurance transparency and options also passed, including:

Stated Value Homeowner’s Policy Act (HB 356): Requires that insurers offer stated-value homeowner’s policies, allowing homeowners to insure based on a mutually agreed declared value rather than strictly market value.

Transparency measures and insurer notification requirements were also enacted, including advance notice when insurers plan to exit or expand in areas.

More to come on this as…

JoeBoonie — Wed, 02 Jul 2025 02:07:59 GMT

More to come on this as implementation proceeds ...

#Louisiana
#insurance

https://www.fox8live.com/2025/06/30/gov-landry-signs-auto-property-insurance-bills-into-law

🚨 Insurance & AI: A Growing Challenge for…

JoeBoonie — Tue, 25 Feb 2025 05:09:52 GMT

🚨 Insurance & AI: A Growing Challenge for New Orleans 🚨

As the insurance crisis continues, the landscape is changing fast, and not necessarily for the better. Many commercial carriers are now relying on artificial intelligence to assess crime risk by ZIP code—and the impact is hitting home in New Orleans.

With AI-driven data labeling certain areas as “high-risk,” insurers are pulling out, making it harder than ever to secure coverage in places that once had options. Business owners are now facing limited choices, skyrocketing premiums, and in some cases, no coverage at all.

As technology continues to reshape the industry, the question remains: How can we ensure fair access to insurance without letting AI-driven decisions leave communities stranded?

What do you think—should AI dictate coverage availability? It seems VERY shortsighted.

Drop your thoughts below! ⬇️

#InsuranceCrisis #AIinInsurance
#NewOrleans
#Louisiana

Its a few months old but…

JoeBoonie — Sun, 23 Feb 2025 05:19:06 GMT

Its a few months old but in case you missed it ...

#Louisiana State Government Now Accepts Bitcoin Lightning As Payment

By Nik - September 18, 2024

https://bitcoinmagazine.com/business/louisiana-state-government-now-accepts-bitcoin-lightning-as-payment

Something we do in #Louisiana that…

JoeBoonie — Sat, 22 Feb 2025 02:29:11 GMT

Something we do in #Louisiana that no one else seems to understand ....

Put babies in cakes.

Never thought I'd say this,…

JoeBoonie — Sat, 25 Jan 2025 04:58:08 GMT

Never thought I'd say this, but I'm looking forward to the miserable humidity and heat again. #Louisiana

📸 - cypress_swamp_photographer