2006 Louisiana Laws - RS 22:1417 — Assigned risks; governing committee

§1417.  Assigned risks; governing committee

A.  With respect to casualty insurance to which this Part applies, agreement may be made among insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to, but who are unable to procure such insurance through ordinary methods, and such insurers may agree among themselves on the use of reasonable rate modifications for such insurance, such agreements and rate modifications to be subject to the approval of the Louisiana Insurance Rating Commission.  No domestic insurance company shall be denied servicing carrier status.

B.  Effective on August 15, 1993, the governing committee of the assigned risks, or "Louisiana Automobile Insurance Plan", shall consist of the following nine members:

(1)  One member shall be the commissioner of insurance or his designee.

(2)  One member shall be a representative designated by the Louisiana Insurance Rating Commission.

(3)  One member shall be a representative designated by the Louisiana Association of Fire and Casualty Insurance Companies.

(4)  One member shall be appointed by the president of the Senate.

(5)  One member shall be appointed by the speaker of the House of Representatives.

(6)  The remaining four members shall consist of representatives selected from and by the membership subject to final approval by the commissioner of insurance.

C.  Every insurer under this Section shall maintain an office in this state for the purpose of processing claims on property and casualty insurance policies issued or delivered by the insurer in this state of claims of the assigned risk pool.  In lieu of maintaining a claims adjuster for processing claims on property and casualty insurance policies issued or delivered by the insurer in the state, the insurer shall file with the commissioner the address and telephone number of the claims office of the insurer located in the state or the name, address, and telephone number of the claims adjuster retained by the insurer in the state.

D.  Each claims office or claims adjuster retained by such insurer shall maintain, on computer or otherwise, claims submitted to the property and casualty insurer, for six months after the claim is finally resolved or for six months after expiration of prescription of a claim, whichever occurs first.  Personnel in the claims office or the adjuster, if retained, shall be authorized by the insurer to issue checks, settle claims, and contravene on behalf of the insurer concerning claims made to that office or adjuster on policies issued or delivered by the property and casualty insurer.

Acts 1958, No. 125.  Amended by Acts 1960, No. 296, §1. Acts 1985, No. 644, §1; Acts 1986, No. 1021, §1; Acts 1993, No. 599, §1.