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LA SCR61
Concurrent Resolution
Status
6/1/2025
Primary Sponsor
Patrick Connick
Click for details
AI Summary
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Directs the legislative auditor and Department of Insurance to study financial transactions between insurers operating in Louisiana and their affiliated companies, including managing general agents, holding companies, and service providers, covering January 1, 2021 to December 31, 2024
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Focuses on residential property and private passenger auto insurers, examining payments such as management fees, reinsurance premiums, commissions, administrative services, and dividends
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Requires assessment of whether affiliated company payments affected insurers' reported losses, surplus levels, or rate filings
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Authorizes the legislative auditor to contract with independent consultants including actuaries, forensic accountants, and insurance finance experts
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Written report with findings and recommendations for legislative or regulatory reforms due to the Legislature by September 1, 2026
Legislative Description
To authorize and direct the legislative auditor and the Department of Insurance to study the financial transactions of foreign and domestic insurers who are authorized to do and are doing business in Louisiana.
INSURERS
Last Action
Read by title and returned to the Calendar, subject to call.
6/2/2025