Louisiana Department of Insurance Concludes 7th Annual Filing and Compliance Seminar in Conjunction with Louisiana Insurers’ Conference
Aug 5, 2010
The Louisiana Department of Insurance (“LDI”) recently concluded its 7th Annual Filing and Compliance Seminar in conjunction with the Louisiana Insurers’ Conference in New Orleans, Louisiana.
The 2010 Seminar, which was held from July 28 through July 30, provided attendees with updates on regulatory developments at the LDI, in addition to pertinent highlights from the 2010 Louisiana Legislative Session.
Breakout sessions included discussions on market regulation; certificates of insurance; property and casualty, as well as life, health and annuity rate and form filings; producer and adjuster laws; non-producer licensing issues; fraud prevention; the LDI Industry Access System; national insurance producer licensing; a SERFF/Tech Lab; and information about advisory organizations.
Basic and advanced sessions on property and casualty rate filing included an overview of new filing procedures, related legislative changes and common actuarial and compliance problems encountered in the process.
Successful 2010 legislation reviewed at the event included H.B. 952 (Act 397), which revises the Louisiana Citizens Property Insurance Corporation’s (“Citizens”) depopulation program. Previously, Citizens was required to offer policies in groups or bundles of at least 500 through the depopulation program. The act revises current law to allow Citizens the flexibility to offer for review, the entire book of business to insurance companies that are interested in acquiring Citizens policies. The depopulation program is required to make at least one round of take-out offers each year.
To access the LDI’s list of 2010 passed bills, click here.
Additional lists of successful and unsuccessful 2010 Louisiana legislation are attached for review.
Should you have any questions or comments, please contact Colodny Fass.