Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
Federation of Regulatory Counsel: September 2017 Louisiana Update
On the heels of Hurricane Harvey affecting southwestern Louisiana, the Louisiana Department of Insurance has issued Bulletin No. 2017-07. The purpose of this Bulletin is to remind all insurers authorized to issue vehicle insurance that La. R.S. 32:707.3 provides the proper procedure for obtaining a Certificate of Destruction for water-damaged vehicles. The Bulletin emphasizes that a water-damaged vehicle is "any vehicle whose power train, computer, or electrical system has been damaged by flooding and that is a 'total loss.'" Under Louisiana law, a "total loss" is defined as "a motor vehicle which has sustained damages equivalent to seventy-five percent or more of the market-value as determined by the most current National Automobile Dealers Association Handbook."
