Louisiana Department of Insurance News

State Farm Plans Another Auto Insurance Rate Cut in Louisiana

State Farm Mutual Insurance Co. has filed for an overall statewide average private passenger auto insurance rate reduction of 2.6% in Louisiana, according to the state insurance department. The Louisiana Department of Insurance said the filing is pending review. If …

Commissioner: Farm Bureau to Drop Auto Insurance Rates in Louisiana

Louisiana Farm Bureau is following the downward trend in auto insurance rates started by State Farm and Progressive insurance companies, the Louisiana Department of Insurance reported. Louisiana Farm Bureau has filed for a 4.4% rate decrease on 220,000 automobile policies, …

Louisiana Charter School Bus Services Firm Accused in Insurance Fraud Scam

The Louisiana Department of Insurance has served the owners and an employee of Scholars First LLC, a provider of bus transportation services to several New Orleans-area charter schools, with cease and desist (C&D) orders for their alleged roles in the …

Louisiana Insurance Exec Arrested for Theft of Nearly $1M

An insurance business owner and former official for a Louisiana port has been arrested for stealing nearly $1 million from his clients, authorities said. Kristian Gaudet, 45, of Cut Off, was charged with two counts of felony theft, The Courier …

New Task Force to Address High Auto Insurance Rates Louisiana

A new task force created to investigate the high cost of auto insurance in Louisiana held its first meeting on Aug. 21, the Louisiana Department of Insurance reports. The Louisiana High Auto Rates Task Force was formed by Insurance Commissioner …

New Louisiana Law Allows Insurance Agencies to Employ Convicted Felons

A law that goes into effect today in Louisiana allows insurance producers to employ convicted felons if the producer obtains permission or consent in writing from the state insurance commissioner. The Louisiana Department of Insurance reports that before the new …

Louisiana Seeks to Clarify Named Storm/Hurricane Deductible Law

The Louisiana Department of Insurance has issued an advisory letter to property/casualty insurers operating in the state that seeks to clarify the interpretation and application of state law regarding policy deductibles in relation to named storms/hurricanes/subtropical storms. Advisory Letter No. …

Leadership Changes Coming for Louisiana Citizens Property Insurance

The Louisiana Department of Insurance reported that the leadership of Louisiana Citizens Property Insurance Corp. will change in 2018. Two long-serving employees, Chief Operating Officer Vijay Ramachandran and Chief Financial Officer Steve Cottrell are retiring. Joseph Sciortino will step into …

3 Licensed Producers Accused of Insurance Fraud Scheme in Louisiana

Two women in East Baton Rouge Parish have been served cease and desist orders by the Louisiana Department of Insurance Fraud Division investigators for allegedly fraudulently altering the vital information and beneficiary designation of insurance policies, submitting fraudulent policyholder information, …

Louisiana Regulators Recover $4M for Insurance Policyholders

Insurance policyholders collected an additional $4 million in the first half of the year as a result of assistance provided by the Louisiana Department of Insurance (LDI). These funds are a result of staff from the LDI Office of Consumer …