2006 Louisiana Laws - RS 22:1469 — Participation in the insurance regulatory information system of the national association of insurance commissioners

§1469.  Participation in the Insurance Regulatory Information System of the National Association of Insurance Commissioners

A.(1)  Each domestic, foreign, or alien insurer who is authorized to transact insurance in this state shall file a copy of its annual statement convention blank, along with such additional filings as are prescribed by the commissioner for the preceding year, on or before March first of each year, with the National Association of Insurance Commissioners.  The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurat page and the actuarial certification.  Any amendments and addendums to the annual statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners.  

(2)  Foreign insurers that are domiciled in a state which has a law substantially similar to this Section shall be deemed in compliance with this Section.  

B.  In the absence of actual malice, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, employees of the National Association of Insurance Commissioners, and all others charged with the responsibility of collecting, reviewing, analyzing, and disseminating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the commissioner under the authority of this Section and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from such filings.  

C.  All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the Department of Insurance by the National Association of Insurance Commissioners Insurance Regulatory Information System shall be confidential and shall not be disclosed by the department.  

D.  The commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to file its annual statement when due or within any extension of time which the commissioner, for good cause, may have granted.  

Acts 1991, No. 949, §1, eff. July 24, 1991.