Louisiana Department of Insurance Seeking Comment on Audited Financial Reports Regulation Proposed Revision

Jul 2, 2009

The Louisiana Department of Insurance (“LDI”) has issued a proposed Rule notice regarding Regulation 98, which is also known as the “Audited Financial Reports Law.”

The purpose of Regulation 98 is to improve insurer financial condition oversight by the LDI by placing certain conditions on insurer financial auditing and reporting requirements.

Proposed amendments to Regulation 98 would change and clarify the current Rule language and implement annual financial reporting requirements that are expected to improve LDI surveillance of insurers’ financial condition.  The amendments also would further the National Association of Insurance Commissioners’ efforts to promote reciprocity among the states.

Although a public hearing on Regulation 98 has not been scheduled until September 28, 2009, the LDI has requested that comments on the proposed amendments be returned by July 9 to Arlene D. Knighten at aknighten@ldi.state.la.us, or by mail at 1702 North Third Street, Baton Rouge, Louisiana or P.O. Box 94214 Baton Rouge, Louisiana 70804-9214.

The full text of the proposed revisions to Regulation 98 is attached.


Should you have any questions or comments, please contact Colodny Fass.


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