LA HB379

Insurers may require mandatory binding arbitration in property insurance policies only if the requirement is in a separate endorsement, includes an actuarially sound premium discount, and the policyholder signs a commissioner-prescribed form acknowledging forfeited rights including jury trial

Policyholders must be offered an alternative policy without mandatory arbitration, and insurers must complete mediation under R.S. 22:2651 before initiating arbitration

Arbitration must occur in Louisiana within the judicial district where the insured property is located, and arbitrators must be Louisiana-licensed attorneys meeting commissioner-prescribed requirements

Arbitrators may award penalties, attorney fees, and other damages allowed by law; proceedings are governed by the Louisiana Binding Arbitration Law (R.S. 9:4201 et seq.)

Surplus lines insurers are exempt from these requirements and may continue using mandatory arbitration provisions without restriction