Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 90 - Regulation 72-Commercial Lines Insurance Policy Form Deregulation
Section XIII-9003 - Purpose

Universal Citation: LA Admin Code XIII-9003

Current through Register Vol. 50, No. 9, September 20, 2024

A. The purpose of this regulation is to allow for more flexibility in the placement of insurance with large commercial risks within the parameters of the admitted market by establishing an exemption from the form filing, review and approval requirements of the Louisiana Insurance Code, and to adopt the initial definition of an "exempt commercial policyholder". The exemption implemented under this regulation is predicated upon the continued existence of an open and competitive market and the good faith of insurers in carrying out the fiduciary obligations owed to their insureds.

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:861.F.

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