DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 214 Original 2015 Regular Session Pierre
Abstract: Provides for the creation of a new category of "domestic surplus lines insurer". A
domestic surplus lines insurer shall be domiciled and sell surplus lines insurance in La.
Present law requires that insurers selling surplus lines insurance be unauthorized insurers that meet
the requirements of present law (R.S. 22:435), and can neither be domiciled in nor hold a certificate
of authority from the state of La.
Proposed law provides that a domestic insurer, by a resolution of its board of directors and with the
written approval of the commissioner, may sell surplus lines insurance in La, as approved or eligible
unauthorized insurers do under present law. Proposed law further provides that a domestic surplus
lines insurer would be limited to the sale in La of surplus lines insurance.
Proposed law provides that a domestic surplus lines insurer will be subject to the surplus lines
premium tax, but would be exempt from the requirements of rate and form filing and approval, and
also exempt from the requirements and protections of the La Insurance Guaranty Association Law.
Proposed law removes references to "approved unauthorized insurers" and adds a third category of
domestic surplus lines insurer that constitutes "surplus lines insurers".
(Amends R.S. 22:46(intro. para.) and (17), 432, 434, 438(A)(intro. para.) and (2) and (B), 446,
1456(B)(2), and 1661(6); Adds R.S. 22:46(17.1), 435(B)(3), and 436.1)