La. Admin. Code tit. 37 § XIII-701
Current through Register Vol. 50, No. 9, September 20, 2024
Section XIII-701 - PurposeA. The purpose of this regulation is to implement Act 103 of the 1990 Regular Legislative Session. It is further intended to protect the public from the risk of insolvent insurance companies by requiring companies issuing certain types of policies to provide actuarial statement of opinion of loss and loss adjustment expense reserves. This will assist the agency in ensuring that adequate reserves are retained by insurers so that claims can be paid and minimize the necessity of putting companies into conservation and/or liquidation.La. Admin. Code tit. 37, § XIII-701
Promulgated by the Department of Insurance, Office of the Commissioner, LR 18:619 (June 1992).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:904.