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Louisiana Notice Regarding Producer Agencies

Louisiana Notice Regarding Producer Agencies

The Louisiana Commissioner of Insurance issued Advisory Letter of 2016-02 advising all producer agencies that they must follow the mandatory reporting requirements of LA R.S. 22:1546 (B) which requires producer agencies to register, under its agency license, every member, partner, officer, and director as well as all other individuals personally engaged in the solicitation and negotiation of policies of insurance in the state of Louisiana. Every person who controls directly or indirectly ten percent or more of the producer agency must be registered under its license. A fine of $100.00 is mandated for each violation of these requirements. Read the entire advisory letter at

http://www.ldi.la.gov/docs/default-source/documents/legaldocs/advisoryletters/al2016-02-cur-mandatoryregistration.

 


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