Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 127 - Regulation Number 94-Premium Adjustments for Compliance with Building Codes and Damage Mitigation
Section XIII-12707 - Definitions
Current through Register Vol. 50, No. 9, September 20, 2024
A. As used in Regulation 94, these terms shall have the following meaning ascribed herein unless the context clearly indicates otherwise.
Certification Form-a form prepared by an insurer, approved by the department, and subsequently completed and signed by the insured, wherein the insured attests to the implementation of specific mitigation items which the insurer recognizes in its rating plan for providing an actuarially justified premium discount under R.S. 22:1426.
Department-Louisiana Department of Insurance.
Discount Plan-the criteria and items utilized by an insurer to determine or otherwise compute an actuarially justified discount, credit, rate differential, adjustment in deductible, or any other adjustment to reduce the insurance premium for an eligible insured under R.S. 22:1426.
Qualified Professional-a building code enforcement officer, registered architect, registered engineer, or a registered third-party provider authorized by the Louisiana State Uniform Construction Code Council to perform building inspections.
Residential Property Insurance-fire and extended coverage insurance or homeowners insurance for a one-or two-family owner-occupied premises, but does not include insurance policies written to cover manufactured homes or mobile homes.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:3 to enforce the provisions of R.S. 22:1426.
