Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

            A. Unless denied licensure pursuant to La. Rev. Stat. 22:1554, persons who have met the requirements of this Subpart shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of authority:

            (1) Life, which provides insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income.

            (2) Accident and health or sickness, which provides insurance coverage for sickness, bodily injury, or accidental death, and may include benefits for disability income.

            (3) Variable life and variable annuity.

            (4) Property, which provides insurance coverage for the direct or consequential loss or damage to property of every kind.

            (5) Casualty, which provides insurance coverage against legal liability, including that for death, injury or disability, or damage to real or personal property.

            (6) Personal lines, which provides property and casualty insurance coverage to individuals and families for primarily noncommercial purposes.

            (7) Title.

            (8) Credit which includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, or any other form of insurance offered in connection with an extension of credit to partially or wholly extinguish that credit obligation and that is designated by the insurer as limited line credit insurance. The amount of credit insurance issued pursuant to a credit transaction shall not exceed the total sum payable under the contract including all loan finance and credit service charges.

            (9) Travel insurance as defined in La. Rev. Stat. 22:1782.1(3).

            (10) Limited life, health and accident, which provides insurance coverage pursuant to La. Rev. Stat. 22:142. A license for limited life may allow the producer to sell life insurance in an amount not to exceed thirty thousand dollars when appointed by an insurer which meets the minimum financial requirements of, and is licensed pursuant to, La. Rev. Stat. 22:82(A)(1) or 112(A)(1), and when such policies are issued by such insurer.

            (11) Industrial fire.

            (12) Surety which provides insurance or bond that covers obligations to pay debts of, or answer for the default of another, including faithlessness in a position of public or private trust. For purpose of limited line licensing, surety does not include surety bail bonds.

            (13) Bail bonds.

            (14) Surplus lines, subject to the requirements of Subsection I of this Section.

            (15) Any other line of insurance permitted under state laws or regulations.

            B. Subject to the requirements of Subsection C of this Section, an insurance producer license shall remain in effect, unless revoked, suspended, or denied renewal or reinstatement, as long as all applicable fees are paid and education requirements are satisfied, until the license expires or is surrendered by the holder thereof.

            C.(1) Every licensed producer shall file an application for renewal of his license every two years, by notifying the commissioner of insurance, by methods prescribed by the commissioner, of the licensee’s intention to continue his license as either producer, limited lines producer, or surplus lines producer.

            (2) Any licensee who fails to file timely for license renewal shall be charged a late fee as authorized by La. Rev. Stat. 22:821.

            (3) Prior to the filing date for application for renewal of a license, the licensee shall comply with continuing education requirements in La. Rev. Stat. 22:1573 for the lines of insurance being renewed. Such producer shall file with the commissioner of insurance, by a method prescribed by the commissioner, satisfactory certification of completion of the continuing education requirements. Any failure to fulfill the continuing education requirements shall result in the expiration of the license. Nothing in this Subsection shall authorize the administration or management, under contract or otherwise, of the continuing education program except by the employees of the department.

            D. An insurance producer who allows his license to lapse may, within two years from the expiration date of the license, reinstate the same license upon proof of fulfilling all continuing education requirements through the date of reinstatement and upon payment of all fees due. If the license has been lapsed for more than two years, the applicant shall fulfill the requirements for issuance of a new license.

            E. A licensed insurance producer who is unable to comply with license renewal procedures due to military service or other extenuating circumstance, such as a long-term medical disability, may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.

            F. The license shall state the name and business address of the licensee, date of issuance, the renewal or expiration date, the line or lines of insurance covered by the license, and such other information as the commissioner deems necessary.

            G. Every licensee shall notify the commissioner, by any means acceptable to the commissioner, of any change of address, legal name, or information submitted on the application within thirty days of the change. Failure to file such change within the required time shall result in the imposition of a fifty-dollar penalty per violation. Any person against whom a penalty has been levied shall be given due notice of such action. Upon receipt of this notice, the licensee may apply for and shall be entitled to a hearing in accordance with Chapter 12 of this Title, La. Rev. Stat. 22:2191 et seq.

            H. A duplicate license may be issued for any lost, stolen, or destroyed license issued pursuant to this Subpart upon a request by the licensee, by a method prescribed by the commissioner, setting forth the facts of such loss, theft, or destruction, together with a fee as authorized by La. Rev. Stat. 22:821.

            I. Any licensed property and casualty or accident and health or sickness insurance producer maintaining an office at a designated location in this state and having at least two years experience in the insurance business with an insurer or as an insurance producer may be licensed as a surplus lines broker as follows:

            (1) The applicant shall submit an application to the commissioner for the license on forms approved by the commissioner.

            (2) The applicant shall submit the required license fee, as authorized by La. Rev. Stat. 22:821, for each license year during any part of which the license is in effect. The license shall remain in force until the biannual renewal date.

            (3) The applicant shall pass an examination approved by the commissioner.

            J. In order to assist in the performance of the commissioner’s duties, the commissioner may contract with nongovernmental entities, including the National Association of Insurance Commissioners (NAIC) or any affiliates or subsidiaries that the NAIC oversees, to perform any ministerial functions, including the collection of fees, related to producer licensing that the commissioner and the nongovernmental entity may deem appropriate.

            K. The commissioner may participate, in whole or in part, with the National Association of Insurance Commissioners (NAIC), or any affiliates or subsidiaries the NAIC oversees, in a centralized producer license registry where insurance producer licenses and appointments may be centrally or simultaneously effected for all states that require an insurance producer license and participate in such centralized producer license registry. If the commissioner finds that participation in such a centralized registry is in the public interest, the commissioner may adopt by rule any uniform standards and procedures as are necessary to participate in the registry. Any participation in a centralized registry shall be under the administration and control of employees of the department and may not be the subject of any contract for services with any person or entity outside of the department.

            L.(1) When a business entity has no one designated pursuant to La. Rev. Stat. 22:1546(B)(2)(b), the commissioner shall notify the business entity in writing, and the business entity shall designate one or more licensed individual producers to be responsible for its compliance with the insurance laws, rules, and regulations of this state.

            (2) If the business entity fails to designate a licensed individual within thirty days of written notice, the commissioner shall inactivate the license immediately.

            (3) The commissioner may reactivate the license upon compliance with this Subsection prior to the expiration of the license.

            (4) Inactivation pursuant to this Subsection shall not be construed as a disciplinary or regulatory action.

            Acts 2001, No. 158, §1, eff. Jan. 1, 2002; Acts 2006, No. 335, §1, eff. June 13, 2006; Acts 2006, No. 605, §1, eff. June 23, 2006; Redesignated from La. Rev. Stat. 22:1137 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 317, §1; Acts 2009, No. 485, §1, eff. Jan. 1, 2010; Acts 2010, No. 967, §1; Acts 2011, No. 94, §1, eff. Jan. 1, 2012; Acts 2014, No. 117, §1; Acts 2014, No. 118, §1; Acts 2016, No. 315, §1, eff. June 2, 2016; Acts 2018, No. 7, §1, eff. Jan. 1, 2019; Acts 2018, No. 13, §1; Acts 2022, No. 56, §1.