Senate Bill No. 47, introduced by Senator Talbot, aims to amend the Louisiana Workers' Compensation Corporation (LWCC) regulations regarding the total amount of premiums received from operations in other states. The bill proposes to remove existing limitations that restrict the total premiums earned by LWCC from such operations to no more than 20% of the corporation's annual total premiums. Additionally, it eliminates the cap that no more than 30% of the total premium for any insured can be allocated for exposures under other states' laws.

The proposed changes will allow the LWCC greater flexibility in providing workers' compensation insurance to Louisiana employers with operations in other states, thereby potentially increasing their revenue and coverage options. The amendments will take effect on August 1, 2025, and are intended to enhance the corporation's ability to serve its insureds while complying with the necessary insurance regulations.

Statutes affected:
SB47 Original: 23:1393(A)(2)