Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 90 - Regulation 72-Commercial Lines Insurance Policy Form Deregulation
Section XIII-9017 - Requirements for Maintaining Records

Universal Citation: LA Admin Code XIII-9017

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

A. Any insurer who places insurance with an exempt commercial policyholder, pursuant to this regulation, shall maintain a record on the exempt commercial policyholder. The record shall contain, in addition to the certification form, the following information:

1. any data, statistics, rates, rating plans, rating systems and underwriting rules used in underwriting and issuing such policies;

2. a copy of the policy with date of issuance clearly marked;

3. annual experience data on each risk insured, including but not limited to:
a. written premiums;

b. written premiums at a manual rate;

c. paid losses;

d. outstanding losses;

e. loss adjustment expenses;

f. underwriting expenses;

g. underwriting profits; and

h. profits from contingencies; and

4. a record of all complaints including the date the complaint was made, the name of the complainant, the nature of the complaint and the final resolution.

B. The record required by this Section may be kept in electronic or written form and shall be maintained by the insurer for a period of five years from the date of issuance of the insurance policy or renewal policy if a new certification form is required pursuant to §9015.C Upon request, the insurer shall produce such record for examination by the commissioner or any person acting on behalf of the commissioner.

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2, R.S. 22:11, R.S. 22:1961 et seq., and R.S. 22:1981.

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