Senate Concurrent Resolution No. by Senator Connick authorizes the legislative auditor and the Department of Insurance to conduct a comprehensive study of the financial transactions involving foreign and domestic insurers operating in Louisiana. This initiative arises from concerns regarding the financial stability and market practices of property insurers, particularly in light of the state's vulnerability to natural disasters and the rising costs of insurance premiums. A report from the Florida Office of Insurance Regulation highlighted significant financial dealings between insurers and their affiliates, raising questions about the impact of these transactions on insurer solvency and consumer costs.

The resolution mandates that the study examine financial data and relationships disclosed in regulatory filings, categorize various types of payments, and assess their effects on insurers' reported losses and rate filings. The legislative auditor is also empowered to engage independent consultants for assistance in the study. A written report detailing the findings and any recommendations for legislative or regulatory reforms is to be submitted by September 1, 2026. This effort aims to enhance transparency and accountability in the insurance market, ensuring that financial practices do not compromise market stability or unfairly burden policyholders.