§ 22:550.18 — Captive insurance company prohibited from joining or contributing to risk-sharing

Louisiana § 22:550.18

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§550.18. Captive insurance company prohibited from joining or contributing to risk-sharing
plan, risk pool, or insurance insolvency guaranty fund
A. A captive insurance company shall not join or contribute financially to any
risk-sharing plan, risk pool, or insurance insolvency guaranty fund in this state. A captive
insurance company or its insured, its parent or an affiliated company, or any member
organization of its association shall not receive any benefit from such a plan, pool, or fund
for claims arising out of the operations of the captive insurance company.
B. Any policy issued by an association captive insurance company shall contain in
at least fourteen-point boldface capital letters on the front page and the declaration page, the
following notice:
THIS POLICY IS ISSUED BY A CAPTIVE INSURANCE COMPANY. YOUR CAPTIVE
INSURANCE COMPANY MAY NOT BE SUBJECT TO ALL OF THE INSURANCE
LAWS AND REGULATIONS OF YOUR STATE. STATE INSURANCE INSOLVENCY
GUARANTY FUNDS ARE NOT AVAILABLE FOR YOUR CAPTIVE INSURANCE
COMPANY."

Legislative History

Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No. 313, §2.