NOTE: §881.1 eff. May 1, 2025. See Acts 2024, No. 611.

§881.1. Discounts; disclosure requirements; homeowners' and motor vehicle policies

            A. Every insurer that writes homeowners' or private passenger motor vehicle insurance policies in this state shall, in writing that is not less than twelve-point font, disclose all discounts that the insurer offers that may reduce the homeowners' or motor vehicle insurance premium of a policyholder or prospective policyholder. Insurers shall ensure that the disclosure is delivered by electronic means as defined in R.S. 22:2461 or submit the disclosure within the written materials of a new policy delivered to the policyholder and at each subsequent renewal. For purposes of this Section, "discounts" means premium credits advertised by an insurer to policyholders who meet certain criteria defined by the insurer. An insurer's failure to comply with this Section does not create a cause of action.

            B. This Section shall not apply to excess and surplus lines.

            Acts 2024, No. 611, §1, eff. May 1, 2025.