This bill amends and reenacts several sections of Louisiana's insurance regulations, specifically R.S. 22:821, which pertains to fees collected by the commissioner of insurance. The bill increases various fees associated with producers, claims adjusters, and public adjusters. Notably, the annual financial regulation fee for health maintenance organizations and other insurers is raised from $1,000 to $2,000. Additionally, fees for producers' licenses, including initial applications and renewals, are increased, with first-time applicants now paying $75 instead of $50, and renewal fees rising from $20 to $35. Similar increases are applied to claims adjuster and public adjuster licenses, with first-time applicants and renewal fees both set at $75, up from $55 and $50, respectively.
The changes outlined in the bill are set to take effect on January 1, 2026. The adjustments aim to enhance the financial regulation of insurance entities and ensure that the fees collected reflect the current economic landscape and regulatory needs. Overall, the bill seeks to update the fee structure to better support the operations of the insurance commissioner and the regulatory framework in Louisiana.
Statutes affected: HB441 Original: 22:821(B)(2)
HB441 Engrossed: 22:821(B)(2)
HB441 Enrolled: 22:821(B)(2)
HB441 Act 501: 22:821(B)(2)