‘Real Estate Weekly’: Capital Region included in amended insurance emergency rule

The Louisiana Department of Insurance has amended its Emergency Rule 26 to address concerns of insured homeowners in 23 Louisiana parishes—including East Baton Rouge and surrounding parishes—who were recently displaced by Hurricane Isaac. The emergency rule is aimed to assist displaced policyholders by granting extensions on insurance payments, allowing out-of-network medical care without penalties and forbidding the cancellation of a policy due to a storm-related claim. The amended rule clarifies the parishes in which it applies, and also extends the amount of time insured homeowners have to provide the required written notice about their displacement to their insurance companies. That date is now Sept. 25. That’s also the deadline for policyholders to pay for insurance premiums due on or after Aug. 26 without penalty, under the emergency rule. The amendment also includes the suspension of other statutes and regulations in regards to policy cancellations, non-renewals, reinstatements, premium payments, claim filings and related provisions. Access the complete amended rule and read the rest of the new Real Estate Weekly e-newsletter here.