May 2022
Louisiana Surplus Line Reporter
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and writing about this business for over 40 years.
Articles
Operation Sideswipe nets more convictions
In his continuing crusade against the staged accident ring in the New Orleans area, the United States Attorney for the Eastern District of Louisiana Duane A. Evans announced in the last three months the indictment of seven more individuals, the guilty plea of six more...
LCPIC board gets updated on reinsurance
At the May 12 meeting of the Louisiana Citizens Property Insurance Corp. (LCPIC) board of directors, the board was updated on the 2022/23 reinsurance and CAT bond placement and the 2021 actuarial opinion. In addition, the board voted on CAT claims-handling contracts,...
The claims process gravitates toward Internet of Things
By 2025, through telemetrics, 25 percent of cars involved in collisions will be carrying the information needed to establish negligence for the accident, and half the time insurers will receive first notice of the loss when the accident occurs. These were among the...
Bill to form named storm fraud prevention authority advances
Proposed legislation to create and finance a named storm fraud prevention authority was looked on favorably by the House Insurance Committee on March 23, and the measure currently is scheduled for floor debate after getting a unanimous nod from the House...
Virtual summit provides homeowners info
The Louisiana Department of Insurance Office of Consumer Advocacy and the Louisiana Civic Coalition collaborated to present the Hurricane 2022 Virtual Summit on April 27. During the summit, viewers received information about FEMA’s Risk Rating 2.0 program, the...
A defense attorney’s perspective on insurance market
When Ronnie Johnson, an attorney with McGlinchey, Stafford and Lang in Dallas and Baton Rouge, spoke in March at the LDI 2022 Symposium, he brought a defense attorney’s perspective to the current troubled insurance market in Louisiana and commented on some of the...
Existential threat to agents
It was 1975. While completing an application for malpractice insurance, a dentist told me his address was 12345 Main St. I commented on how simple it was. He shot back, “So simple even insurance agents can understand it.”In 1994, while speaking about managed care to a...
Association predicts Net Zero may double London market
London ViewsBy LEN WILKINSLondon CorrespondentYears ago, there was an organization called the Lloyd’s Brokers’ Committee. When Lloyd’s decided it would no longer approve Lloyd’s Brokers, the organization changed its name to the London and International Insurance...
News In Brief
Financial Trouble
FedNat Holding Co. incurred $29 million of estimated first-quarter net catastrophe losses, driven by 11 notable events, the Florida-based insurer revealed in a U.S. Securities and Exchange Commission filing, news sources reported April 28. The company doubts it can...