RS 22:1261 Renewal of policy; increase in premiums prohibited - Louisiana Statutes

PART IV.  PROPERTY AND CASUALTY

SUBPART A.  INSURANCE AND CONTRACT REQUIREMENTS

IN GENERAL

§1261.  Renewal of policy; increase in premiums prohibited

A.  Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable may be renewed or extended at the option of the insurer and upon a currently authorized renewal form and at the premium rate then required therefor for a specific additional period or periods by a certificate or by endorsement of the policy, and without requiring the issuance of a new policy.

B.  No insurer shall increase the premium charged for an automobile liability insurance policy at the time of renewal for any insured solely on the grounds that the insured's policy has lapsed provided the policy is renewed within ten days after the date of termination.

Acts 1958, No. 125; Acts 1997, No. 702, §1; Redesignated from R.S. 22:635 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.