Producers must give applicants written flood-coverage notices in specified cases, and insurers must include required flood-insurance certifications in writing on the policy declarations page.
§1346. Notices regarding flood coverage A.(1) A producer shall provide written notice to be signed by the applicant before a producer places residential flood coverage with an authorized or surplus lines insurer for a property receiving flood coverage from the National Flood Insurance Program. The notice required by this Subsection shall inform the applicant of all of the following: (a) Coverage under the National Flood Insurance Program is provided at a subsidized rate. (b) If the applicant discontinues coverage under the National Flood Insurance Program, the full risk rate may apply to the property if the applicant later seeks coverage under the National Flood Insurance Program. (2) If an applicant does not have flood coverage, a producer shall inform the applicant of the existence of the National Flood Insurance Program. B.(1) An insurer writing standard flood insurance policies, preferred flood insurance policies, customized flood insurance policies, flexible flood insurance policies, residential flood insurance policies using a different definition of "flood" than that used in R.S. 22:1341, or residential flood insurance policies with terms and conditions other than those described in R.S. 22:1344, shall make one of the following certifications: (a) "This policy meets the definition of private flood insurance contained in 42 U.S.C. 4012a(b)(7) and the corresponding regulation." A certification made under this Subparagraph shall also contain a separate statement providing: "This policy provides at least the coverage of the standard flood insurance policy under the National Flood Insurance Program." (b) "This policy does not meet the definition of private flood insurance contained in 42 U.S.C. 4012a(b)(7) and the corresponding regulation." A certification made under this Subparagraph shall also contain a separate statement providing: "This policy provides less coverage than the standard flood insurance policy under the National Flood Insurance Program." (2) The certifications required pursuant to this Subsection shall be in writing on the declarations page of the policy in bold typed print of not less than a fourteen-point font. Acts 2021, No. 77, §1, eff. Jan. 1, 2022.