Louisiana Changes Its "Proof Of Loss" Law

The Louisiana Legislature recently passed HB 437 which enacts La. § R.S. 22:1892.3 (effective August 1), in an attempt to clarify parties' respective obligations as it relates to Proof of Loss statements and corresponding payments under an insurance policy. Under this new statute, any type of insurance policy—other than life, health and accident and worker's compensation—may be written to require submission of a Proof of Loss statement as a condition precedent to payment under the policy. Before any insurers attempt to condition payment on receipt of a Proof of Loss statement, they must ensure full compliance with the statutory requirements to avoid any confusion and late payments.