Louisiana Revised Statutes Tit. 9, § 1141.30. Insurance

A. Commencing not later than the time of the first transfer of a lot to an unrelated purchaser, the association shall maintain, to the extent reasonably available and subject to reasonable deductibles, commercial general liability insurance, in an amount determined by the board of directors, but not less than any amount specified in the declaration, covering all occurrences commonly insured against for bodily injury, death, and property damage arising out of or in connection with the use, ownership, or maintenance of the common areas. The declaration may require the association to carry any other insurance, and the association may carry any other insurance it considers appropriate to protect the association or the lot owners.

B. If the insurance required in Subsection A of this Section is not reasonably available, the association shall promptly notify all lot owners.

C. The issuance of an insurance policy to the association does not prevent a lot owner from obtaining insurance for the lot owner's own benefit.