INSURERS: Requires insurers to provide a minimum twenty percent discount to insureds participating in the Louisiana Fortify Homes Program. (gov sig) (OR SEE FISC NOTE SG EX)

SB 355 requires Louisiana insurers to provide a minimum 20% premium discount to homeowners who retrofit their properties to meet the Louisiana Fortify Homes Program standards, effective October 1, 2027. Insurers unable to meet this discount must submit a proposed alternative discount with actuarial justification to the Insurance Commissioner for review. The Commissioner can reject unapproved proposals and mandate revisions, with affected parties able to request a hearing if dissatisfied. This bill directly affects homeowners participating in the Fortify Homes Program and insurers offering property insurance in Louisiana.