2006 Louisiana Laws - RS 22:1303 — Commissioner of insurance to conduct annual office review of insurers

§1303.  Commissioner of insurance to conduct annual office review of insurers

A.  In addition to those examinations performed by the commissioner of insurance pursuant to R.S. 22:1301, the commissioner of insurance shall conduct an annual office review of all insurers authorized to do business in this state, other than life, health, and accident insurers and nonprofit funeral associations.  Such office reviews shall include the annual statement of the insurer reviewed, company financial reports rendered pursuant to good and acceptable accounting practices, results of insurance solvency standards testing as performed by the National Association of Insurance Commissioners, results of prior examinations and office reviews, management changes, consumer complaints, and such other relevant information as from time to time may be required by the commissioner.  

B.  The commissioner shall timely furnish to each reviewed insurer a written report detailing the findings of each such annual review.  Within forty-five days of its receipt of such written report, each reviewed insurer shall provide to the commissioner such response, rebuttal, explanation, or other information as it may see fit.  The commissioner shall furnish to any person, upon request, a copy of the written report, accompanied by a copy of the response, rebuttal, explanation, or other information provided by the reviewed insurer.  

Acts 1958, No. 125; Acts 1990, No. 259, §1.  

{{NOTE:  SEE ACTS 1990, NO. 259, §§2 AND 3, FOR EFFECTIVENESS AND APPLICABILITY.}}