The Louisiana Department of Insurance issued a Notice of Intent to Promulgate Regulation 131 to implement legislation which authorizes an insurer to notify the Commissioner of a plan to nonrenew or cancel up to 5% of its insureds’ homeowners policies in a calendar year that have been in effect for at least three years on or before August 1, 2024, for any reason and to request the Commissioner’s approval of a plan to nonrenew or cancel more than 5% of its insureds’ homeowners policies in a calendar year that have been in effect for three years or more on or before August 1, 2024.