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Bill

SB 247

PROPERTY INSURANCE: Provides relative to insurance rate regulation. (8/1/25)

2025 Regular Session Introduced by Robert Allain

Louisiana bill SB 247 regulates property insurance rates but was withdrawn before final passage, indicating legislative uncertainty or opposition to its regulatory framework.

Read by title; withdrawn from the files of the Senate.
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Bill Summary · SB 247

Legislative bill overview

SB 247 modifies Louisiana's property insurance rate regulation framework, though the specific provisions are not detailed in the available legislative actions. The bill progressed through the Senate but was withdrawn from files on May 21, 2025, suggesting it did not advance to final passage despite earlier procedural movements.

Why is this important

Property insurance rate regulation directly affects homeowners' and businesses' insurance costs and insurer profitability in Louisiana, a state with significant hurricane risk and historically volatile insurance markets. Changes to rate regulation can influence insurance availability, affordability, and the financial stability of insurers operating in the state.

Potential points of contention

  • Rate increase restrictions vs. insurer solvency: Tighter rate controls may protect consumers from premium spikes but could discourage insurers from entering or remaining in the Louisiana market if they cannot achieve adequate returns
  • Regulatory flexibility: Questions about whether regulations allow sufficient rate adjustment for actuarial changes (catastrophe costs, inflation) or impose rigid caps that ignore market conditions
  • Substitute bill implications: The bill's status as a substitute for SB 172 and its subsequent withdrawal suggests legislative disagreement about the specific regulatory approach or scope

Compiled from official sources — confirm details with the bill’s official record.

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