La. Admin. Code tit. 37 § XIII-15913

Current through Register Vol. 50, No. 9, September 20, 2024

Section XIII-15913 - Documentation Required from the Insurer

A. An insurer seeking the approval of the commissioner pursuant to a consent to rate application for any property and casualty insurance coverage shall file with the commissioner a written application packet, which shall contain the following documentation.

1. The consent to rate application shall set forth the full name of the insurer, the full name and title of the person filing such application on behalf of the insurer, the physical and mailing addresses of the insurer, email address, telephone number, and facsimile number of the insurer.

2. If the consent to rate application is submitted in paper form, a stamped, self-addressed return envelope.

3. An original of the consent to rate application signed by both the insurer and the insured, which must set forth the following information:

a. name of the insurer;

b. name of the insured;

c. the line of business;

d. if applicable, the sub-line or program under which the policy is being written;

e. the policy number;

f. the policy effective dates (the first and last dates on which the policy is effective);

g. documentation setting forth in detail the calculation of the premium using the manual rates;

h. documentation setting forth in detail the calculation of the premium using the consent to rate process;

i. the written explanation that was provided by the insurer to the insured setting forth in detail the reason(s) why the insured did not qualify for the insurers manual rates and was subjected to the consent to rate process; and

j. a copy of any other documentation that the insurer provided to the insured.

B. The commissioner may request additional information and/or documentation as he deems necessary. In accordance with R.S. 22:1451.C(2), the commissioner shall make the final determination as to what constitutes a complete application under Regulation 111.

La. Admin. Code tit. 37, § XIII-15913

Promulgated by the Department of Insurance, Office of the Commissioner, LR 442213 (12/1/2018).

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:1464, R.S. 22:1473, and the Administrative Procedure Act, R.S. 49:950 et seq.