LA HB1117

Amends R.S. 22:868(B) to clarify that an insurer's payment under contract terms does not constitute acknowledgment of a debt

Insurer payments will not interrupt or extend the contractually defined prescriptive period for filing claims against the insurer

Prescriptive period continues to begin running at the inception of the loss, regardless of any partial payments made

Retains existing law requiring insurance contracts to allow at least 24 months for first-party claims and at least 1 year for other insurance claims

Effective upon governor's signature or lapse of time for gubernatorial action