Louisiana Department of Insurance Advises on Producer Compensation and Enforcement

Above:  Colodny Fass Insurance Regulation Lawyer Megan Grant Notes Recent Louisiana Department of Insurance Producer Compensation Advisory Letter.

Lousiana Insurance Commissioner Jim Donelon recently advised all insurers, insurance issuers, health maintenance organizations and all producers licensed to do business in Louisiana of the manner in which the Louisiana Department of Insurance (“LDI”) addresses and shall enforce various provisions of the Louisiana Insurance Code with respect to producer compensation.  In accordance with La. R.S. 22:46, the term “producer” is inclusive of agents and brokers.

Issued June 3, 2015, Commissioner Donelon’s guidance was contained within Advisory Letter No. 2015-02, which replaces and supersedes guidance previously issued as Advisory Letter No. 2010-01 on August 9, 2010.

To view Advisory Letter No. 2015-02, which includes a reference section of applicable statutory provisions, click here.

Should you have any questions or comments, please contact Colodny Fass Partner Megan M. Grant at MGrant@ColodnyFass.com or +1 954 332 1770.

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