This text of Louisiana § 22:1276 (Notification to commissioner; market activity) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§1276. Notification to commissioner; market activity
A. An insurer authorized to transact the business of automobile or property insurance
in this state shall, within ten days of providing notice to its agents or other representatives
of any decision to cease, pause, or resume the writing of new insurance policies in any
geographic region within the state, provide written notice of such action to the commissioner.
B. The insurer shall include in the notice to the commissioner, at a minimum, all of
the following:
(1)The effective date of the cessation, pause, or resumption.
(2)The lines of insurance affected.
(3)The specific geographic area impacted.
(4)A brief description of the reasons for the action.
C. Any information submitted to the commissioner pursuant to this Section is
confide
Free access — add to your briefcase to read the full text and ask questions with AI
§1276. Notification to commissioner; market activity
A. An insurer authorized to transact the business of automobile or property insurance
in this state shall, within ten days of providing notice to its agents or other representatives
of any decision to cease, pause, or resume the writing of new insurance policies in any
geographic region within the state, provide written notice of such action to the commissioner.
B. The insurer shall include in the notice to the commissioner, at a minimum, all of
the following:
(1) The effective date of the cessation, pause, or resumption.
(2) The lines of insurance affected.
(3) The specific geographic area impacted.
(4) A brief description of the reasons for the action.
C. Any information submitted to the commissioner pursuant to this Section is
confidential and proprietary and is not subject to public disclosure pursuant to the Public
Records Law, R.S. 44:1 et seq., except as otherwise required by law or pursuant to an order
of a court of competent jurisdiction.
D. For the purposes of this Section, the terms "cease", "pause", and "resume" refer
to any action that materially affects the insurer's availability of coverage offerings to
consumers in the specified region, but does not refer to a temporary cessation in offering
coverage as a result of a possible impending natural disaster.
E. The commissioner may promulgate and adopt rules and regulations in accordance
with the Administrative Procedure Act for the implementation and enforcement of the
provisions of this Section, including but not limited to requirements for the notices required
in this Section.