Provides for data collection by the Department of Insurance. (1/1/26)
SB 48 requires authorized insurers that provide personal or commercial residential coverage in Louisiana to submit new, detailed data reports to the Department of Insurance. On a monthly basis, insurers or insurer groups must file supplemental reports broken down by zip code showing policy counts, cancellations, nonrenewals, new business, wind coverage exposure, claims activity, and whether alternative dispute resolution was used. The bill also requires annual supplemental reporting on closed claims, including claim identifiers, location, dates, loss type, vendors used, payments, attorney involvement, and other information the commissioner deems necessary to track litigation and claim trends in the property market.
In addition, insurers must file an annual calendar-year report covering direct Louisiana residential business, including premiums written and earned, reserves, losses paid, underwriting income or loss, expenses, and related financial measures. The bill directs the commissioner of insurance to promulgate rules and forms within 30 days after the effective date. The reporting requirements begin January 1, 2026, and the bill expressly classifies the submitted information as confidential proprietary business records exempt from public records disclosure and subpoena.
The bill adds R.S. 22:575 to Louisiana insurance law and amends the Public Records Law exemption list in R.S. 44:4.1(B)(11) to include the new reporting section. Its practical effect is to expand the Department of Insurance’s access to granular residential property insurance data, especially for hurricane risk, wind coverage, claims handling, litigation, and financial performance. The affected parties are authorized insurers and insurer groups writing personal or commercial residential coverage in Louisiana, which would face recurring monthly and annual reporting obligations and compliance with commissioner-prescribed forms and rules.
Based on the bill text and available context, the overall sentiment appears administrative and oversight-oriented rather than overtly partisan or controversial. The measure is framed as a data-collection and market-monitoring tool for the Department of Insurance, suggesting support for greater transparency and regulatory insight into the residential property insurance market. No committee transcripts or recorded votes were provided, so there is no documented floor or committee debate to indicate broader support or opposition.
The main potential point of contention is the breadth and specificity of the reporting burden on insurers, including monthly zip-code-level policy data, detailed closed-claim information, and financial reserve and expense reporting. Insurers may view the requirements as administratively burdensome or as requiring disclosure of sensitive operational information, even though the bill makes the data confidential. Another possible issue is the commissioner’s authority to require additional information deemed necessary to track litigation and claim trends, which gives the Department broad discretion. No specific opposing or supporting viewpoints are available in the provided transcripts or vote history.