1. A. Regulation 106 implements the provisions of Act 844, of the 2014 Regular Session of the Louisiana Legislature, specifically R.S. 22:1964 (28) which mandates that the Department of Insurance promulgate rules and/or regulations addressing the replacement of limited benefit insurance policies as defined in R.S.22:47(2)(c).

2. B. The purpose of this regulation is:

   1. 1. to regulate the activities of insurers and producers with respect to the replacement of limited benefit insurance policies;

   2. 2. to protect the interests of limited benefit insurance policy purchasers by establishing minimum standards of conduct to be observed in a replacement transaction. It will:

      1. a. assure that purchasers receive information with which a decision can be made in his or her own best interest;
      2. b. reduce deliberate use of misrepresentation or false statements in the sale of limited benefit replacement policies.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:1964 and the Administrative Procedure Act, R.S. 49:950 et seq.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Insurance, Office of the Commissioner, LR 44:2009 (November 2018), amended LR 51:2099 (December 2025).