March 2022
Louisiana Surplus Line Reporter
We are insurance industry professionals working
and writing about this business for over 40 years.
Articles
Property market on the verge of going to hell
Louisiana’s property market appears to be on the verge of going to hell in a hand basket. After two back-to-back disastrous hurricane seasons, many agents are worried and frightened, searching in vain for markets to place property risks. Compounding their problems...
LCPIC to purchase $1.2 billion in reinsurance
After two devastating hurricane seasons, property insurance companies pulling out of the state, and several other property insurance companies being shut down, Louisiana Citizens Property Insurance Corp. (LCPIC) management told the board of directors at the March 10...
A look back, then forward
“Different isn’t always better, but better is always different.” — Dale Dauten Feb. 14 was the 49th anniversary of my first employment in the insurance industry. I’ve enjoyed the ride."Different isn't always better, but better is always different." - Dale Dauten On...
Lloyd’s and the London market impose sanctions for invasion
London ViewsBy LEN WILKINSLondon CorrespondentResponding to instructions from the U.K. government, Lloyd’s and the London market imposed sanctions on Russian interests. Aircraft and ships aren’t allowed to land or dock, and insurance of risks, including areas of...
WSIA elects officers and presents awards in Orlando
When the Wholesale and Specialty Insurance Association met in Orlando March 14 for its annual business meeting, the association elected new officers and directors and presented four awards for exceptional service.Bryan Clark, president of Gorst and Compass Insurance,...
Eric Vocke will lead Young Insurance Professionals
The new president of the Young Insurance Professionals got into the insurance business a little more than 15 years ago because of Hurricane Katrina.At the time Hurricane Katrina came ashore, Eric Vocke was working as a sales representative for a company that sold...
Bills presented as Catastrophe Reform
Louisiana Commissioner of Insurance Jim Donelon and the chairmen of the state’s House and Senate insurance committees presented to the public on March 10 their proposed solutions designed to deal with the challenges facing the insurance industry subsequent to the...
Louisiana Department of Insurance C&Ds four agents
The Louisiana Department of Insurance recently issued a series of regulatory actions, including cease-and-desist orders, license suspensions, and a license revocation and fine, against four insurance producers. Brandi Crawford, Winnsboro, was issued a cease-and-desist...
New appraisal clause can deflect allegations of bad faith
After the disastrous hurricane season of 2020 when Louisiana was pounded with several hurricanes, one of which set a few records, a law was passed in 2021 which amended Louisiana’s bad faith statute, adding a new appraisal clause that insurers could trigger to deflect...
SafePoint Insurance takes over Americas Insurance policies
Insurance Commissioner Jim Donelon announced March 2 that SafePoint Insurance Co. will take over approximately 24,000 homeowners policies from Americas Insurance Co. SafePoint previously took over policies from two other insurers, which failed in the aftermath of...
APCIA responds to Catastrophe Reform Package of bills
An hour after the Catastrophe Reform Package of bills was announced March 10 by Louisiana Commissioner of Insurance Jim Donelon, Sen. Kirk Talbot, R-River Ridge, who chairs the Senate Insurance Committee, and Rep. Mike Huval, R-Breaux Bridge, who chairs the House...
News In Brief
News in Brief
MERGERS/ACQUISITIONS Applied Underwriters announced Feb. 23 that it will acquire Catlin Specialty Insurance Company from Axa XL group of companies, consolidating the company into the North American Casualty group of companies in a move intended to bolster Applied’s...