HB904

Louisiana HB904 establishes guidelines for the regulation of captive insurance companies and risk retention groups.

Louisiana HB904 revises provisions governing captive insurance companies and risk retention groups, including capital and surplus requirements, deposits, risk exposure limits, governance, annual reporting, rate filings, and premium taxes. The commissioner may promulgate rules necessary to implement the Subpart and to comply with National Association of Insurance Commissioners accreditation standards. Risk retention groups chartered and licensed in this state must maintain governance standards similar to those adopted by the National Association of Insurance Commissioners.