If you want to run every insurance company out of the state of Louisiana, pass this bill. SB 62 does not explicitly require that excessive rates be determined based on actuarial analysis.

The bill defines an excessive rate as one likely to produce unreasonably high long-term profit but does not require actuarial standards or methods to make that determination. While rate filings typically include actuarial data, the bill mandates that the insurance commissioner decide if a rate is excessive and to order refunds, without specifying that the decision must be based on arbitrary not actuarial justification.

Regulation of insurance premium rates in Louisiana. The bill proposes several key amendments to existing laws:

• Uniform Standards for Rate Evaluation: Currently, in competitive markets, rates are prohibited from being inadequate or unfairly discriminatory, while in noncompetitive markets, rates must not be excessive, inadequate, or unfairly discriminatory.
• Redefinition of "Excessive" Rates: The existing definition states that no rate in a competitive market shall be considered excessive. The proposed legislation removes this provision, allowing for the possibility that rates in competitive markets can be deemed excessive if they are likely to produce unreasonably high long-term profits relative to the insurance provided.
• Mandatory Disapproval of Non-Compliant Rates: The bill changes the commissioner's authority from discretionary to mandatory in disapproving rates that are found to be excessive, inadequate, or unfairly discriminatory, irrespective of the market type.
• Authority to Require Refunds: If a rate is determined to be excessive, the commissioner is empowered to mandate refunds of any sums deemed excessive, extending the current authority which allows for refunds in cases of discriminatory rates.

The proposed changes are set to take effect on August 1, 2025.

Senate Bill No. 68, introduced in the 2025 Regular Session by Senator Connick, proposes the establishment of the "Homeowners' Insurance Transparency Act." This act mandates that homeowners' insurance companies annually disclose financial information regarding their affiliated entities, such as claims adjustment firms and reinsurance companies. The required disclosures include the total annual profit or loss of each affiliated entity, a breakdown of fees and commissions paid to them, a list of services provided along with their total value, and any additional financial interests or transactions that could impact premiums for Louisiana homeowners. These disclosures must be submitted to the Department of Insurance within 90 days after the end of the insurer's fiscal year and will be made publicly accessible. Non-compliance may result in penalties, including fines up to $25,000 and suspension of the ability to issue new policies. The act is set to become effective on January 1, 2026. citeturn0search0

SB110 clarifies that Louisiana insurance laws apply to employee benefit plans only when they are not overridden by federal ERISA rules. If a court or the insurance commissioner finds a state provision is preempted by ERISA, the rest of the law still stands meaning only the parts that conflict with the federal rules are invalid not the whole law.

Amends various sections of the Louisiana Revised Statutes to clarify the applicability of state insurance laws to employee benefit plans governed by the Employee Retirement Income Security Act of 1974 (ERISA). The bill intends to ensure that state provisions apply only where not preempted by ERISA. It includes a severability clause stating that if any part of the Title is declared preempted by ERISA through a final court decision, or if the insurance commissioner determines that a provision is likely preempted, the remainder of the Title remains valid and applicable to other entities or circumstances. Additionally, the bill proposes technical amendments to existing statutes to align with these clarifications.

Key Provisions of SB 110:

1. Clarification of Applicability:
2. The bill explicitly states that provisions of the Title apply to employee benefit plans only to the extent they are not preempted by ERISA, clearly defining state authority relative to federal preemption.
3. Severability Clause:
4. SB 110 contains a provision ensuring that if any part of the Title is found preempted by ERISA, or identified by the insurance commissioner as likely preempted, the validity of the remaining sections is unaffected, preserving enforceability for unaffected provisions.
5. Technical Amendments:
6. The bill includes technical revisions to several statutes for consistency and to avoid conflicts between state laws and federal ERISA requirements.

By introducing these measures, SB 110 addresses the interaction between state insurance regulations and ERISA, aiming to maintain the effectiveness of state laws in situations where federal law does not explicitly override state jurisdiction.

Makes technical wording updates to Louisiana automobile insurance statutes without changing the substance of existing law.

Key Provisions: 

- Retains all current protections and prohibitions in law, including: 

 - No rate increases for non-fault accidents or coverage lapses. 

 - No rate discrimination based on age, disability, or fire service. 

 - No denial of collision/comprehensive coverage due to named storms. 

 - Insurers must assume certain obligations when taking title of a vehicle. 

- Updates language for clarity and consistency across insurance-related statutes. 

- Effective August 1, 2025.

Strengthens reimbursement protections for pharmacies by requiring Pharmacy Benefit Managers (PBMs) to pay at least acquisition cost and expands appeal rights for underpayments.

Key Provisions: 

- Requires PBMs to reimburse pharmacies no less than the acquisition cost of a drug, device, or service. 

- Defines “acquisition cost” as the invoice price from a customary supplier or the Medicaid dispensing fee for services. 

- Allows appeals for at least 15 days after reimbursement. 

- If an appeal is granted, PBMs must: 

 - Let all similarly situated pharmacies resubmit claims for retroactive payment. 

 - Notify those pharmacies of the reimbursement adjustment. 

 - Apply reimbursement adjustments in the next payment cycle. 

- Effective August 1, 2025.

Prohibits pharmacy benefit managers (PBMs) from profiting via spread pricing or rebate retention. Requires PBMs to be compensated only through disclosed fees in contracts with insurers or health plans. Mandates PBMs respond to audits and certify accuracy of data. Bans "effective rate pricing" for local pharmacies and strengthens transparency, reporting, and patient protection. Effective upon governor’s signature.