1. A. The commissioner may grant an innovation waiver with respect to requirements imposed by any insurance law, regulation, directive or bulletin to enable a person to obtain limited access to the insurance market in this state to test an innovative insurance product or service without obtaining a license or other authorization that might otherwise be required or without being fully compliant with any insurance law, regulation, directive or bulletin. To receive an innovation waiver, an applicant shall demonstrate to the commissioner’s satisfaction that:

   1. 1. the application of the law, regulation, directive or bulletin would prohibit the introduction of an innovative or more efficient insurance product or service that the applicant intends to test during the period for which the proposed innovation waiver is granted;
   2. 2. the public policy goals of the law, regulation, directive or bulletin will be or have been achieved by other means;
   3. 3. the innovation waiver will not substantially or unreasonably increase risk to consumers or create unfair competition in the insurance market; and
   4. 4. the innovation waiver is in the public interest.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11, 22:1430.1 et seq., 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 51:965 (July 2025).