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Louisiana Governor Jeff Landry signed House Bills into law as part of a large insurance reform effort and in response to the state’s rising insurance rates.
House Bill 148 amends Louisiana regulations to give the insurance commissioner the power to disapprove a rate filing if it is determined to be excessive. Previously, a rate filing could only be denied if it was determined to be inadequate or unfairly discriminatory. An excessive rate is defined as a rate that is likely to produce an unreasonably high profit for the insurance provided.
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