§ 22:1567 — Producers' compensation in form of fees; commercial property and casualty insurance; criteria for policyholders

Louisiana § 22:1567

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

Notwithstanding any other provision of law to the contrary, an insurance producer may negotiate with both or either a property and casualty insurer or a commercial policyholder, including a governmental entity pursuant to R.S. 42:1123(37)(b), to compensate the insurance producer for the placement of commercial property and casualty insurance coverages by any combination of commissions, fees, or fees in lieu of commissions if the commercial insurance policyholder, including a governmental entity pursuant to R.S. 42:1123(37)(b), meets one of the following criteria:
(1) Has total annual property and casualty insurance premiums in excess of five hundred thousand dollars.
(2) Obtains insurance coverage with a per occurrence or per claim deductible or self-insured retention of fifty thousand dollars or more for workers' compensation, general liability, or automobile insurance coverages.
(3) Has a net worth in excess of twenty-five million dollars.
(4) Qualifies as a self-insurer with the state of Louisiana.
(5) Is a governmental entity that had a contract prior to August 9, 2010, with an insurance producer on a stipulated fee basis for the placement of commercial property and casualty insurance coverages.

Legislative History

Acts 2011, No. 9, §1.