La. Admin. Code tit. 37 § XIII-12111

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

Section XIII-12111 - Qualifications for Binding Authority

A. In order to bind coverage for the FAIR Plan and the Coastal Plan through Citizens, each duly licensed insurance producer must meet the following requirements:

1. maintain errors and omission insurance in the minimum amount of $1 million per occurrence and $1 million annual aggregate;

2. complete any previously approved and required Citizens education seminar, as well as review and follow all training documents, rules, and guidelines provided on Citizens' website

3. demonstrate experience writing property and casualty insurance in Louisiana and maintain an in-force book of residential and/or commercial property insurance business in the lines of insurance offered by Citizens;

4. have a valid insurance producer license issued by the department;

5. submit to Citizens a completed application warranting compliance with applicable requirements established by Citizens;

6. submit to Citizens a properly executed producer subscriber agreement; and

7. demonstrate compliance with all terms and conditions set forth in the producer subscriber agreement.

La. Admin. Code tit. 37, § XIII-12111

Promulgated by the Louisiana Citizens Property Insurance Corporation, LR 33:1873 (September 2007), Amended LR 471530 (10/1/2021).

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2313 and the Administrative Procedure Act, R.S. 49:950 et seq.