Legislative Issues One More Time
We want to make sure that you don't miss a couple of bills that passed and now
are law, so we are highlighting them again here. However, please refer to
all the bills we followed and final determination of each by going to our
2018 Regular Session Legislative Report
here.
Motor Vehicle Report, HB 752 by Rep. Mike Huval is now Act 278 — PIA
was instrumental in getting this bill passed, which requires any insurer doing
business in this state to accept a current copy of any MVR procured by a licensed
producer or licensed insurance agency on behalf of a client in the quoting and
underwriting of personal lines automobile insurance. Current law also provides that
the motor vehicle report shall be deemed current if the report was issued within
15 days of the requested quote. It also authorizes an insurer who did not receive
a current MVR from an agency or producer with the request for a quote to procure
any necessary MVR. It further authorizes the insurer to provide the producer or
agency with a current copy of the MVR and charge the actual cost of the MVR to the
producer or agency seeking the quote. And, it authorizes the producer or agency to
charge the client the actual cost of the MVR. The purpose of this bill was to
eliminate the need to run and purchase multiple MVRs when shopping an account. To
see Act 278 in its entirety click here.
Employment of Persons, HB 206 by Rep. Anders is now Act 299 — Permits
the commissioner of insurance the discretion to grant or deny a waiver to authorize
the employment of the person with a past felony conviction. The key point here is
that if you are aware of an employee with a past felony working for your agency, you
MUST submit to the Commissioner of Insurance for this waiver. DOI will be sending out
a bulletin with more details regarding this new law, so please be sure to be on the
lookout and make sure to follow the outlined requirements.
Fitch: Insurers Well-Prepared for Hurricane Season
Fitch Ratings Inc. reports that the U.S. property-casualty insurance sector is
well positioned for the 2018 hurricane season. Forecasts
expect this year's season to be about average in terms of storm generation. Fitch
says aggregate industry policyholders' surplus grew 7.5 percent in 2017 to a record
$765 billion, as elevated underwriting losses were offset by higher total investment
returns.
Although primary U.S. insurers incurred significant losses in 2017, the nature of
last year's storms led to a sizable portion of the financial fallout to be shouldered
by offshore reinsurers, alternative capital, and the National Flood Insurance Program
(NFIP).
Early forecasts of the upcoming June 1 to Nov. 30 hurricane season suggest the
forces that help develop tropical storms appear to be neutral and indicate a near-average
season. Hurricanes Harvey, Irma and Maria combined to produce $80 billion in insured
losses last year, Fitch said, making 2017 the second costliest hurricane season in
North America, trailing 2005 when Hurricanes Katrina, Rita, and Wilma caused insured
losses of $107 billion in 2018 dollars.
Disaster Preparedness: Health Insurance
As our members brace themselves for Hurricane Season, a vital step in emergency
planning is reviewing your health coverage. The following tips can help you make
sure you and your loved ones get the care you need.
- Review your health insurance policy to become familiar with what you should
do in the event of an emergency.
- Identify your network hospital. Find out from your provider what coverage your
plan provides when you are displaced and need medical care outside of your area.
- Identify the pharmacy you are most likely to use and have their contact
information on hand.
- Collect an emergency supply of items like eyeglasses, contact lenses, hearing
aid batteries, dentures and any over the counter medicines you may need.
For more information on getting medical care in a disaster,
click here.
Drug-Impaired Driving Increases
Drug tests of car drivers killed in crashes in 2016 found more drivers had
marijuana, opioids or other substances in their system than a decade ago, a
report shows. The
report from the Governors Highway Safety Association,
which represents state highway-safety offices, found that 44% of drivers who
died and were tested had positive results for drugs in 2016, up from 28 percent
in 2006. By contrast, the percentage of fatally injured drivers who were tested
fell slightly. In 2016, 37.9 percent of all drivers with known test results were
alcohol-positive, compared with 41.0 percent a decade earlier.
P&C Pre-Licensing Classes Available at Bossier
Parish Community College
BPCC will be conducting a pre-licensing course for those interested on July 11,
12 & 18, 19. These courses are designed to prepare individuals to take the
Property & Casualty exam or the Life & Health exam and to provide a good education
for a career in insurance. Topics includes: sales, basic terminology, concepts, the
fundamentals of insurance law, and agent's responsibility. Courses are available at
participating LCTCS colleges across the state. For more details and/or to register,
refer to their site
here.
Hurricane Relief Center
Now available on the front page of PIA of Louisiana's website. Click
here to be directed to all the resources it makes
available to you in preparing for Hurricane Season. We invite you to pass on
any additional resources you would like to make available to your fellow-agents
and company representatives.
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