Current through Register Vol. 50, No. 9, September 20, 2024
A. Applicants for a
rental company limited license shall apply to the Commissioner of Insurance on
forms established by the commissioner. The application may request any
information deemed necessary by the commissioner, including but not limited to
the following:
1. the applicant's corporate,
firm, or other business entity name, the business address and telephone number
of the principal place of business and the business address and telephone
number of each additional location at which the applicant will transact
business under the license;
2. all
assumed business names and other names under which the applicant will engage in
business under the license;
3. the
names of the employees, its agents, members, partners, officers, directors and
stockholders of the applicant personally engaged in this state in soliciting or
negotiating insurance in conjunction with the rental of a vehicle;
4. a declaration by the applicant that the
applicant:
a. is competent and
trustworthy;
b. intends to act in
good faith;
c. has a good business
reputation;
d. has the appropriate
experience, training or education that qualifies the applicant for the license
applied for;
e. has or will train
all employees to be involved in the sale, offering, or negotiation of coverage
prior to their conducting such activities with members of the public;
5. the application shall be signed
by an officer of the applicant.
B. The application for this limited license
shall be supplemented by a detailed plan of operation to be submitted on forms
prescribed by the commissioner, which shall request information deemed
necessary, including but not limited to:
1.
name of any appointing insurer(s), if applicable;
2. the lines of business the applicant
intends to write; including:
a. personal
accident insurance;
b.
liability;
c. personal
effects;
d. roadside
assistance;
e. emergency sickness;
or
f. any other travel or auto
related coverage in connection with or incidental to rental
transaction;
3. a list
of all business locations within Louisiana from which business will be
conducted under the license.
C. The application for this limited license
shall be supplemented with a copy of the licensee's proposed Insurance Sales
Material Disclosure as required by the Louisiana Insurance Code, which at a
minimum shall:
1. be received by the
department prior to its use and be subject to approval by the
department;
2. summarize clearly
and correctly, the material terms of coverage offered to renters, including the
identity of insurer(s), if applicable;
3. disclose that policies offered by the
rental company may provide a duplication of coverage already provided by a
renter's personal automobile insurance policy, homeowner's insurance policy,
personal liability insurance policy, or other source of coverage;
4. state that purchasing the kinds of
coverage specified in this Part is not required when renting a
vehicle;
5. describe the claims
filing process.
D. The
application for this limited license shall be supplemented with a copy of the
licensee's proposed training program or syllabus as required by the Louisiana
Insurance Code. The training program required by this Part shall:
1. be received by the department prior to its
use and be subject to approval by the department;
2. include basic instruction about the kinds
of coverage offered under the license;
3. include the following items:
a. renters of vehicles are not required to
purchase the coverage offered through the licensee as a condition of renting a
vehicle;
b. renters must be
informed that coverage offered by the licensee may duplicate existing coverage
of the renter and that the renter should consult with his or her insurance
producer if the renter has any questions about existing coverage;
c. the rental period of the rental agreement
can not exceed 90 consecutive days;
d. claims procedures;
e. the identity of any insurance company
providing coverage offered by the licensee;
f. evidence of coverage in the rental
agreement must be disclosed to every renter who elects to purchase such
coverage;
g. employees of the
licensee are not authorized to evaluate a renter's existing coverage.
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
22:3,
22:2112,
and the Administrative Procedure Act,
R.S.
49:950 et
seq.
