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Regular Session, 2010 ENROLLED
SENATE BILL NO. 669
BY SENATOR HEBERT
AN ACT1
To amend and reenact R.S. 22:1547(I)(2) and 1573(G) and to enact R.S. 22:1557(A)(4) and2
1574, relative to insurance producers; to provide with respect to biannual renewal of3
surplus lines broker license; to provide for commissions; to provide for carry forward4
of continuing education hours; to provide for producer training requirements to sell5
long-term care insurance; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. R.S. 22:1547(I)(2) and 1573(G) are hereby amended and reenacted and8
R.S. 22:1557(A)(4) and 1574 are hereby enacted to read as follows: 9
§1547. License10
* * *11
I. Any licensed property and casualty insurance producer maintaining an12
office at a designated location in this state and having at least two years experience13
in the insurance business with an insurer or as an insurance producer may be licensed14
as a surplus lines broker as follows:15
* * *16
(2) The applicant must submit the required license fee, as authorized by R.S.17
22:821, for each license year during any part of which the license is in effect. The18
license shall remain in force until the annual biannual renewal date.19
* * *20
§1557. Commissions21
A.22
* * *23
(4) An insurance producer may pay or assign commissions, service fees,24
brokerage fees or other valuable consideration to an insurance agency or to25
persons who are not licensed as producers in Louisiana but are licensed in their26
state of domicile and act only to assist producers licensed in this state in placing27 SB NO. 669 ENROLLED
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business with insurers authorized to do business in this state.1
* * *2
§1573. Continuing education requirements3
* * *4
G. No more than ten excess hours of approved property and casualty5
insurance instruction and no more than six ten excess hours of approved life, health,6
and accident insurance instruction accumulated during the previous renewal period7
may be carried forward and applied to the continuing education requirement for the8
next renewal period.9
* * *10
§1574. Producer training requirements to sell long-term care insurance11
A. (1) An individual shall not sell, solicit or negotiate long-term care12
insurance unless the individual is licensed as an insurance producer for health13
and accident or life and has completed a one-time training course. The training14
shall meet the requirements set forth in Subsection B of this Section.15
(2) An individual already licensed and selling, soliciting or negotiating16
long-term care insurance on August 15, 2010 may not continue to sell, solicit or17
negotiate long-term care insurance unless the individual has completed a one-18
time training course as set forth in Subsection B of this Section within one year19
from August 15, 2010.20
(3) In addition to the one-time training course required in Paragraphs21
(1) and (2) of this Subsection, an individual who sells, solicits or negotiates long-22
term care insurance shall complete ongoing training as set forth in Subsection23
B of this Section.24
(4) The training requirements of Subsection B of this Section may be25
approved as continuing education courses under R.S. 22:1573.26
B. (1) The one-time training required by this Section shall be no less than27
eight hours and the ongoing training required by this Section shall be no less28
than four hours every two years.29
(2) The training required under Paragraph (1) of this Subsection shall30 SB NO. 669 ENROLLED
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consist of topics related to long-term care insurance, long-term care services1
and, if applicable, qualified state long-term care insurance partnership2
programs, including but not limited to:3
(a) State and federal regulations and requirements and the relationship4
between qualified state long-term care insurance partnership programs and5
other public and private coverage of long-term care services, including6
Medicaid.7
(b) Available long-term services and providers.8
(c) Changes or improvements in long-term care services or providers.9
(d) Alternatives to the purchase of private long-term care insurance.10
(e) The effect of inflation on benefits and the importance of inflation11
protection.12
(f) Consumer suitability standards and guidelines.13
(3) The training required by this Section shall not include training that14
is insurer or company product specific or that includes any sales or marketing15
information, materials, or training, other than those required by state or federal16
law.17
C. (1) Insurers shall obtain verification that a producer receives training18
required by Subsection A of this Section before a producer is permitted to sell,19
solicit or negotiate the insurer's long-term care insurance products, maintain20
records subject to the state's record retention requirements, and make such21
verification available to the commissioner upon request.22
(2) Insurers shall maintain records with respect to the training of its23
producers concerning the distribution of its partnership policies that will allow24
the state insurance department to provide assurance to the state Medicaid25
agency that producers have received the training contained in Subparagraph26
(B)(2)(a) of this Section as required by Subsection A of this Section and that27
producers have demonstrated an understanding of the partnership policies and28
their relationship to public and private coverage of long-term care, including29
Medicaid, in this state. The aforementioned records shall be maintained in30 SB NO. 669 ENROLLED
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accordance with the state's record retention requirements and shall be made1
available to the commissioner upon request.2
D. The satisfaction of said training requirements in any state shall be3
deemed to satisfy the training requirements in this state.4
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: