INSURANCE: Provides for emergency assessments of the Louisiana Citizens Property Insurance Corporation
This bill amends the legal code to allow the Louisiana Citizens Property Insurance Corporation to conduct emergency assessments on its policyholders. The primary change involves updating a specific reference in the state statutes from one section to another, which enables the insurer to collect additional funds when necessary to cover claims. By making this statutory adjustment, the legislation provides the insurance corporation with the authority to assess costs directly to its customers during financial emergencies. The measure was recently passed by the House and sent to the Senate for further consideration.
Bill status
signed
all 5 stages cleared
Introduction
Mar 2026
Committee Review
May 2026
House Passage
Apr 2026
Senate Passage
May 2026
Signed into Law
May 2026
Introduced Mar 31, 2026
Signed May 27, 2026
Maddy AI version diff · 3 comparisons
What changed between versions
HB1187 Original
→
HB1187 Act
·
4 edits
MODERATE
This bill updates the Louisiana Citizens Property Insurance Corporation's financial rules to allow emergency assessment funds to be used for paying off bonds or debt even if a default hasn't occurred, provided the debt is adequately secured. It also clarifies that these emergency funds are not premium and are exempt from taxes and fees, while adding strict rules preventing the use of these funds for other purposes until the debt is fully paid. Additionally, the bill requires insurance companies to explicitly inform policyholders that certain assessments are refundable.
Scope change
The bill expands the corporation's ability to leverage emergency funds for debt repayment and clarifies the legal status of these funds relative to premium taxes.
FISCAL
The corporation can now pledge emergency assessment revenues to secure bonds or debt even if no default has occurred, as long as the debt is adequately protected.
DEFINITION
Emergency assessments are explicitly defined as not being premium, not subject to premium tax, fees, or commissions.
REQUIREMENT
Insurance companies must now include specific statements on policies informing customers that certain assessments are refundable.
ENFORCEMENT
New restrictions prevent the corporation from using emergency assessment funds for other purposes until all related debt is fully paid or defeased.
Floor votes · Senate May 21, 2026 · House Apr 29, 2026
How they voted
35–0
Passed · 5 other
Total votes 40
May 21, 2026
D
Democratic12
91% Yea
R
Republican28
85% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
18
Key actions
4
Committee
4
May 21, 2026
Upper · Passed
Rules suspended. Read by title, passed by a vote of 34 yeas and 0 nays, and ordered returned to the House. Motion to reconsider tabled.
upper
May 14, 2026
Committee
Read by title and referred to the Legislative Bureau.
upper
May 13, 2026
Upper · Passed
Reported favorably.
upper
Apr 29, 2026
Lower · Passed
Read third time by title, roll called on final passage, yeas 87, nays 9. Finally passed, title adopted, ordered to the Senate.
lower
Apr 23, 2026
Lower · Passed
Reported with amendments (12-0).
lower
Apr 1, 2026
Committee
Read by title, under the rules, referred to the Committee on Insurance.
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Paul Sawyer
RRepublican
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