Law360, New York (April 29, 2009, 12:00 AM ET) -- A Louisiana legislative committee has approved a bill to keep property insurers from imposing multiple named storm or wind and hail deductibles in busy hurricane seasons, limiting such deductibles to just one per year for each policyholder, regardless of the number of storms.
The state’s House Insurance Committee on Wednesday voted unanimously in favor of the legislation, H.B. 333, which was sponsored by the committee’s chairman, Rep. Charles E. Kleckley, a Republican whose district includes Lake Charles, La.
The bill is being introduced for the first...
La. House Panel OKs Limit On Storm Deductibles
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