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

Senate Bill 172 revises Louisiana's property insurance rate regulations, directly impacting insurance companies and policyholders. The bill defines "excessive" and "unreasonably high" rates and establishes criteria for the insurance commissioner to determine if a market is competitive or noncompetitive. In competitive markets, rates must not be inadequate or unfairly discriminatory, while in noncompetitive markets, they also cannot be excessive. The commissioner is empowered to disapprove rates that do not meet these standards and must regularly monitor market competition, with noncompetitive market rulings expiring after one year.