2006 Louisiana Laws - RS 22:3009 — Excess stop-loss coverage

§3009.  Excess stop-loss coverage

Each self-insurance plan shall include aggregate excess stop-loss coverage and specific excess stop-loss coverage provided by an insurer licensed by the state of Louisiana.  Aggregate excess stop-loss coverage shall include provisions to cover incurred, unpaid claims liability in the event of plan termination.  The excess or stop-loss insurer shall bear the risk of coverage for any employer participating in the self-insurance plan that becomes insolvent with outstanding contributions due.  The plan shall have a participating employer's fund in an amount at least equal to the point at which the excess or stop-loss insurer shall assume one hundred percent of additional liability.  A plan shall submit its proposed excess or stop-loss insurance contract to the commissioner at least thirty days prior to the proposed self-insurance plan's effective date and at least thirty days subsequent to any renewal date.  The commissioner shall review the contract to determine whether it meets the standards established by this Section and shall respond within thirty days of its submission to him.  Any excess or stop-loss insurance plan must provide coverage with rates not subject to adjustment by the insurer during the first twelve months.  

Acts 1984, No. 857, §1; Acts 1990, No. 902, §1.