June 2021
Louisiana Surplus Line Reporter
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Articles
LDI issues C&Ds to two producers
The Louisiana Department of Insurance has served two producers with cease and desist orders, summary suspensions, fines and license revocation notices, LDI announced June 11 in a news release. LDI fraud investigators served insurance agent Joel Stephen Martinsen of...
Surplus lines directly impacted by bills
During the 2021 Regular Session of the Louisiana Legislature, three bills were passed that directly impact the surplus line insurance business.House Bill 462 by Rep. Mike Huval, R-Breaux Bridge, deals with the 4.85 percent surplus lines tax. Essentially, the new law...
More defendants plead guilty in staged accident scheme
The United States Attorney for the Eastern District of Louisiana, Duane A. Evans, announced that five more defendants entered guilty pleas, admitting to participating in a scheme to crash vehicles into tractor-trailers, and with the help of local attorneys sued to get...
Citizens has 2021/2022 reinsurance ready
At the May 13 meeting of the Louisiana Citizens Property Insurance Corp. (LCPIC) board of directors, the board voted on 2021’s round of depopulation and the 2021 first quarter financials, and CEO Richard Newberry updated the board on the 2021/2022 reinsurance and...
LMG wants new regulation, solvency reforms
London ViewsBy LEN WILKINSLondon CorrespondentWith the U.K. and the EU at loggerheads over financial regulation, the London Market Group (LMG) decided to take advantage of the situation. The LMG wants to fill the regulatory void that currently exists in Europe with a...
LDI recovered $41 million
The Louisiana Department of Insurance has received 1,497 complaints concerning the three hurricanes that struck the state last year and has recovered $41 million on behalf of those consumers as of April 30, Louisiana Insurance Commissioner Jim Donelon said May 20 in a...
Premiums continue to rise
Premiums continued to rise in the first quarter of 2021, according to results from The Council of Insurance Agents and Brokers’ Q1 2021 Commercial Property/Casualty Market Index, though there were further signs the pandemic’s exacerbation of existing market conditions...
PIA urges long-term reauthorization of flood program
The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing May 18 on the reauthorization of the National Flood Insurance Program, and the National Association of Professional Insurance Agents submitted testimony urging the committee to pass a...
Truck drivers oppose bill
The Owner-Operator Independent Drivers Association, representing the interests of small-business trucking professionals and professional truck drivers opposes a highway bill proposed June 5 by U.S. Rep. Peter DeFazio, D-Oregon, despite $1 billion provision for truck...
WCRI study finds prescription payments still vary widely
A new FlashReport from the Workers Compensation Research Institute finds that in most states, dermatological agents and nonsteroidal anti-inflammatory drugs (NSAIDs) have become more important than other drug groups as a share of total prescription payments.In the...
Strong building codes critical to reducing storm damage
A strong building code is critical to reducing the damage and destruction caused by hurricanes each year. On the first day of the Atlantic hurricane season, the Insurance Institute for Business and Home Safety released the 2021 edition of Rating the States, its...
Power, leadership, culture and tomorrow
By MICHAEL G. MANESManes and AssociatesFrom WDSU News today (5/17/2021), former Louisiana Gov. Buddy Roemer has died at the age of 77, according to a statement issued by his family. Roemer, initially a Democrat who switched to the Republican Party, served as the...
OBITUARY
Clare V. Bernard, a retired insurance underwriter, passed away on May 27. She was born in New Orleans on Sept. 28, 1950, to the late Roy and Clare Vicknair. Bernard graduated from Redemptorist High School in 1968. She spent several decades working on the retail and...
News In Brief
News In Brief
MERGERS/ACQUISITIONS Southern General Agency announced that beginning on July 1, its wholly-owned subsidiary general agencies National Security Underwriters, SGA South, and C&W General Agency will consolidate under the Southern General Agency brand. The unified...