Louisiana Administrative Code
Title 37 - INSURANCE
Part XIII - Regulations
Chapter 7 - Regulation 39-Statement of Actuarial Opinion
Section XIII-701 - Purpose
Universal Citation: LA Admin Code XIII-701
Current through Register Vol. 50, No. 3, March 20, 2024
A. The purpose of this regulation is to implement Act 103 of the 1990 Regular Legislative Session. It is further intended to protect the public from the risk of insolvent insurance companies by requiring companies issuing certain types of policies to provide actuarial statement of opinion of loss and loss adjustment expense reserves. This will assist the agency in ensuring that adequate reserves are retained by insurers so that claims can be paid and minimize the necessity of putting companies into conservation and/or liquidation.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:904.
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