RÉSUMÉ DIGEST
ACT 7 (HB 247) 2018 Regular Session Huval
Prior law defined surplus lines insurance as any property and casualty insurance in this state
on property, risk, or exposure located or to be performed in this state, permitted to be placed
through a licensed surplus lines broker with a surplus lines insurer.
New law changes prior law by expanding the definition to include health and accident
insurance.
Prior law defined surplus lines insurer as an approved unauthorized insurer or eligible
unauthorized insurer, or a domestic surplus lines insurer.
New law changes prior law by excluding health maintenance organizations from the
definition.
Prior law required notification that there is no guaranty fund coverage for surplus lines
policies.
New law adds to the required notice a statement that there is no life and health guaranty fund
coverage for surplus lines health and accident policies.
Prior law exempted surplus lines insurers from the requirement to file rates and forms with
the commissioner of insurance.
New law retains prior law but adds an exception for public carrier vehicles.
New law permits the commissioner of insurance to require the filing of rates and forms for
health and accident policies other than health stop loss and limited benefit policies.
Prior law defined a surplus lines broker as an insurance producer who solicits, negotiates, or
procures a property and casualty policy with an insurance company not licensed to transact
business in Louisiana which cannot be procured from insurers licensed to do business in
Louisiana.
New law eliminates the references to property and casualty to expand the definition to all
types of coverage available through surplus lines insurance.
Prior law authorized any licensed property and casualty insurance producer maintaining an
office at a designated location in this state and having at least two years experience in the
insurance business with an insurer or as an insurance producer to be licensed as a surplus
lines broker.
New law expands the authorization to any licensed health and accident insurance producers.
Effective January 1, 2019.
(Amends R.S. 22:46(intro. para.), (17), and (17.1), 433(A), 438(A)(3), 446, 1542(intro. para.)
and (18), and 1547(I))