LouisianaSB 3412026 Regular SessionSenateWALLET

SELF INSURANCE: Provides for the Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund. (gov sig)

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 0 benefits, 0 costs, 3 mixed.

Religious fund faces backup insurance standards

The fund must buy financially sound excess insurance or reinsurance for each fund year, with state approval before use. The amount of risk it keeps cannot exceed the state's authorized limit. Providers must have ratings of at least A- from A.M. Best, Fitch, or S&P Global, or A3 from Moody's. Weiss Ratings no longer qualifies. Reinsurance can come from admitted or nonadmitted insurers, but purchases must meet Louisiana insurance rules, R.S. 22:651–661, and Financial Accounting Standard 113.

Religious fund members must pay upfront

The fund's application must show enough financial strength and cash to pay claims and meet ongoing obligations. Each initial member must pledge and pay at least 25% of its estimated first-year earned normal premiums before coverage starts. If coverage starts before all pledges are paid, the commissioner must suspend the fund's authority until payment and can take further action. Members must maintain a loss fund or stop-loss protection for each risk, capped at one year's premium for that risk. For each risk and coverage year, the trust must hold enough cash to cover the full loss fund.

Religious groups can pool insurance risks

The law establishes the Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund, with state rules governing its operations. Two or more churches or religious nonprofits, or one or more religious denominations, can pool risks for commercial coverage. Coverage includes building damage and can include contents, premises liability, wind, hail, and loss of use—but not medical payments. Pools must have positive net worth, remain financially solvent, and meet their obligations; the insurance commissioner can approve similar private-market coverage. The fund and a member can agree in a policy or contract to resolve claim disputes through Louisiana Mediation Act mediation or appraisal under state law.

Sponsors & Cosponsors

Sponsor

Rick Edmonds
Republican • Senate

Cosponsors

Brian Leonard Glorioso
Republican • House
Dennis Bamburg Jr.
Republican • House
Ed Murray
Democratic • House
Jack "Jay" William Gallé Jr.
Republican • House
John R. Illg Jr.
Republican • House
Michael Melerine
Republican • House
Michael Robert Bayham Jr.
Republican • House
Roger William Wilder III
Republican • House
Troy Jude Hebert
Republican • House
Valarie Hodges
Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 268 • No: 0

House vote • 5/29/2026

Conference Committee Report read, roll called, yeas 90, nays 0. The Conference Committee Report was adopted.

Yes: 90 • No: 0

Senate vote • 5/29/2026

Conference Committee Report read; adopted by a vote of 35 yeas and 0 nays.

Yes: 35 • No: 0

House vote • 5/20/2026

Read third time by title, roll called on final passage, yeas 98, nays 0. Finally passed, ordered to the Senate.

Yes: 98 • No: 0

House vote • 5/12/2026

Reported with amendments

Yes: 10 • No: 0

Senate vote • 5/5/2026

Read by title, passed by a vote of 35 yeas and 0 nays, and sent to the House. Motion to reconsider tabled.