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Louisiana Flex Rating Bill to Become Law

Starting January 1, 2004, property insurers in Louisiana will be able to make instant rate changes of up to ten percent without prior regulatory approval....
June 17, 2003

Starting January 1, 2004, property insurers in Louisiana will be able to make instant rate changes of up to ten percent without prior regulatory approval.  Governor Mike Foster announced that he will allow S.B. 721 to become law without his signature despite "serious reservations." Opponents fear it will give free reign to insurers to raise premiums unchecked, while its backers believe it will bring more insurance companies into the state and foster competition.