FPCA Homeowners Division: Governor Jindal Signs Insure Louisiana Incentive Program Legislation

On Monday, June 23, 2008, Louisiana Governor Bobby Jindal announced that Senate Bill 44 by Senator Cravens has been signed into law.  SB 44 authorizes a third invitation for grant applications under the Insure Louisiana Incentive Program (“Program”). 

SB 44 also provides for the recovery of unearned grants and requires any unused money from the Program to be used for a homeowner policy premium assistance program to reduce homeowners’ insurance premiums. 

To view the bill text, click here.

A timeline for the third round of grant applications will be scheduled by Louisiana Insurance Commissioner Jim Donelon.  We will continue to monitor this matter and report as we receive further information. 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.