HLS 23RS-847 ORIGINAL
2023 Regular Session
HOUSE CONCURRENT RESOL UTION NO. 123
BY REPRESENTATIVES JORDAN AND WILLARD AND SENATOR DUPL ESSIS
INSURANCE/PROPERTY: Requests the Department of Insurance to report certain
information regarding the Insure Louisiana Incentive Program
1 A CONCURRENT RESOL UTION
2To urge and request the Louisiana Department of Insurance to annually report the number
3 of minority agents that receive grant funds and contracts from the Insure Louisiana
4 Incentive Program.
5 WHEREAS, the Insure Louisiana Incentive Program was enacted through the
6passage of Act No. 754 during the 2022 Regular Session as a means to foster cooperative
7economic development and stability within the state of Louisiana by encouraging a surplus
8of property insurers to partake in the voluntary property insurance market; and
9 WHEREAS, the intention and expectation of the Insure Louisiana Incentive Program
10was to upsurge the obtainability of property insurance, increase competitive pressure on
11insurance rates, and condense the volume of insurance policies written by the Louisiana
12Citizens Property Insurance Corporation; and
13 WHEREAS, the Insure Louisiana Incentive Program offers matching grants to
14incentizive new and existing insurance companies to write residential and commercial
15policies in coastal areas, including writing policies out of the Louisiana Citizens Property
16Insurance Corporation; and
17 WHEREAS, the Insure Louisiana Incentive Program shall apply to all authorized
18insurers as defined in R.S. 22:46(3) operating and writing insurance for residential and
19commercial properties in the state of Louisiana, and to any approved unauthorized insurer
20as defined in R.S. 22:46(2) operating and writing insurance for residential and commercial
21properties in the state, an eligible unauthorized insurer as defined in R.S. 22:46(10) operating
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HCR NO. 123
1and writing insurance for residential and commercial properties in the state, or a domestic
2surplus lines insurer as provided in R.S. 22:436.1 operating and writing insurance for
3residential and commercial properties in the state or collectively known as surplus lines
4insurer as defined in R.S. 22:46(27); and
5 WHEREAS, the Department of Insurance has approved the following eight
6companies to receive grant funds from the Insure Louisiana Incentive Program: Allied Trust
7Insurance Company, Cajun Underwriters Reciprocal Exchange, Constitution Insurance
8Company, Elevate Reciprocal Exchange, Gulf State Insurance Company, Safepoint
9Insurance Company, and SureChoice Underwriter's Reciprocal Exchange; and
10 WHEREAS, it is the intention of the Legislature of Louisiana to ensure diversity,
11equity, and inclusion are present within the insurance industry in the state of Louisiana; and
12 WHEREAS, the Department of Insurance should work to increase access for
13minority agents within the state of Louisiana and annually reporting the extent of contracts
14and grant funds being disbursed to minority agents from the Insure Louisiana Incentive
15Program could be beneficial; and
16 WHEREAS, the Legislature of Louisiana earmarked forty-five million dollars in
17funds to support the Insure Louisiana Incentive Program and as of April 12, 2023, the
18Department of Insurance has not used more than three million dollars of the forty-five
19million dollars; and
20 WHEREAS, the Department of Insurance's division of diversity and opportunity
21should partner with the National African American Insurance Association, to foster new
22developments, strategies, and policies that would insure that the Insure Louisiana Incentive
23Program is progressively benefitting minority agents; and
24 WHEREAS, the Department of Insurance's division of diversity and opportunity, the
25National African American Insurance Association, and the Legislature of Louisiana should
26work together to insure that minority agents are provided a nondiscriminatory opportunity
27to obtain contracts and grant funds from the Insure Louisiana Incentive Program; and
28 WHEREAS, it is the intention of the Legislature of Louisiana to ensure that minority
29insurance agents have a fair opportunity to participate in the program.
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HCR NO. 123
1 THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby
2urge and request the Louisiana Department of Insurance to monitor and annually report the
3number of contracts and grant funds from the Insure Louisiana Incentive Program awarded
4to minority agents.
5 BE IT FURTHER RESOLVED that the Louisiana Department of Insurance shall
6annually submit a written report to the Legislature of Louisiana that indicates the percentage,
7amount, and number of contracts and grant funds from the Insure Louisiana Incentive
8Program awarded to minority insurance agents.
9 BE IT FURTHER RESOLVED that the first report shall be submitted on or before
10September 1, 2023.
11 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
12commissioner of insurance.
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)]
HCR 123 Original 2023 Regular Session Jordan
Urges and requests the Department of Insurance to annually report the percentage and
amount of minority agents that receive contracts and grant funds from the Insure Louisiana
Incentive Program.
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