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Louisiana law provides that, in cases of total loss to "inanimate, immovable property", the limit of insurance used to determine the premium charge will be the amount used by the insurance company to calculate the loss payment, without any "deduction or offset, unless a different method is used in the computation of loss". If a different method is used, both the policy and the application for insurance must state the actual method of loss settlement. |
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TITLE ACORD 60 LA (4/98) |
Louisiana Dwelling Supplement -Loss Settlement - For Use With DWG 1 |
The language in ACORD 60 LA is the language recommended by the Property Insurance Association of Louisiana for use with applications for Dwelling 1 coverage. Use ACORD 60 LA with Dwelling Fire Application, ACORD 84. See also newly released ACORD 88, Personal Insurance Application, Applicant Information Section and ACORD 89, Residential Section. |
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IMPORTANT NOTICE |
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ACORD 84, Dwelling Fire Application, will be withdrawn in September of 2008. |
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ACORD forms participants should plan to implement ACORD 88, Personal Insurance Application, Applicant Information Section and ACORD 89, Residential Section as soon as possible. |
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Note this form is now mandatory when submitting applications for this type of coverage to either the Louisiana Joint Reinsurance Plan or the Louisiana Insurance Underwriting Plan. |
ACORD 60 LA (4/98) 1 of 1
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