LA SB214

Changes the Louisiana Insurance Commissioner from an elected position with 4-year terms to a gubernatorial appointment with Senate confirmation for 6-year terms, limited to two consecutive terms

Establishes a 14-member nominating committee to submit three eligible candidates to the governor, including representatives from the State Treasurer, legislative insurance committees, Attorney General, and various industry/consumer organizations

Requires commissioner candidates to have at least 5 years of practical insurance experience and prohibits them from holding other public office or having financial interests in regulated entities

Allows removal of the commissioner for ethics violations, malfeasance conviction, incompetence, failure to discharge duties consistent with the Insurance Code, or inability to serve due to illness/disability

Effective August 1, 2028, with implementation upon expiration of the current elected commissioner's term or when a vacancy occurs, whichever comes first