Senate Bill No. 214, introduced by Senator Duplessis, proposes a significant overhaul of the appointment process and term limits for the commissioner of insurance in Louisiana. The bill transitions the role from an elected position to one appointed by the governor, with Senate confirmation required. The appointed commissioner will serve a six-year term, limited to two consecutive terms. A nominating committee will be established to submit a list of eligible candidates to the governor, enhancing the structure and stakeholder involvement in the selection process. The bill also sets forth qualifications for the commissioner, including a minimum of five years of relevant experience in the insurance field and restrictions on holding other public offices or financial interests in regulated entities.

Furthermore, the bill outlines the conditions under which the commissioner may be removed from office, including lack of qualifications, ethical violations, incompetence, and inability to perform duties. The new provisions are set to take effect on August 1, 2028, or upon a vacancy in the office, with the first assistant serving in the interim. Amendments adopted by the Senate include the addition of members from organizations to the nominating committee and adjustments to the effective date. These changes aim to improve governance and accountability within Louisiana's insurance regulatory framework.

Statutes affected:
SB214 Original: 18:45(A), 18:551(B)(1), 18:1483(13), 22:2(A), 22:454(B), 36:681(C), 36:682(A)
SB214 Engrossed: 18:45(A), 18:551(B)(1), 18:1483(13), 22:2(A), 22:454(B), 36:681(C), 36:682(A)