La. Admin. Code tit. 37 § XIII-9003
Current through Register Vol. 50, No. 11, November 20, 2024
Section XIII-9003 - PurposeA. 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.La. Admin. Code tit. 37, § XIII-9003
Promulgated by the Department of Insurance, Office of the Commissioner, LR 26:500 (March 2000), Amended LR 451776 (12/1/2019).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:861.F.