Domestic stock insurers seeking authority to write insurance must meet the stated capital and surplus levels, and some lines have extra limits on combinations and cash holdings.
§82. Capital requirements; applicants on and after September 1, 1989 A. Domestic stock insurers which apply for a certificate of authority on or after September 1, 1989, may transact the following kinds of insurance in this state upon qualifying therefor and by having paid-in capital, minimum surplus, and operating surplus represented by assets as follows: Paid-in Minimum Operating Insurance Capital Surplus Surplus (1) Life $100,000 $1,900,000 $1,000,000 (2) Health and accident 100,000 1,900,000 1,000,000 (1) and (2) above 100,000 1,900,000 1,000,000 (3) Vehicle 650,000 1,350,000 1,000,000 (4) Liability 650,000 1,350,000 1,000,000 (5) Workers' compensation 650,000 1,350,000 1,000,000 (6) Burglary and forgery 650,000 1,350,000 1,000,000 (7) Fidelity 650,000 1,350,000 1,000,000 (8) Title 100,000 400,000 500,000 (9) Fire and allied lines 650,000 1,350,000 1,000,000 (10) Steam boiler and sprinkler leakage 650,000 1,350,000 1,000,000 (11) Crop 650,000 1,350,000 1,000,000 (12) Marine and transportation 650,000 1,350,000 1,000,000 (13) Miscellaneous 650,000 1,350,000 1,000,000 (14) Homeowners' insurance 650,000 1,350,000 1,000,000 (15) Credit life, health, and accident insurance 100,000 1,900,000 1,000,000 (16) Credit property and casualty insurance 650,000 1,350,000 1,000,000 (17) Annuity 100,000 1,900,000 1,000,000 (18) Surety 650,000 1,350,000 1,000,000 (19) Industrial fire 200,000 800,000 1,000,000 (20) All insurances except life and title 650,000 1,350,000 1,000,000 B. Authority shall be granted stock insurers upon compliance with all applicable requirements to transact combinations of kinds of insurance except as follows: (1) An insurer authorized to transact life insurance shall not be authorized to transact any additional kind of insurance other than: (a) Health and accident insurance. (b) Annuity. (c) Credit life, health, and accident insurance. (2) An insurer authorized to transact title insurance shall not be authorized to transact any additional kind of insurance. C. For the purposes of this Section, assets representing at least fifty percent of the operating surplus must be maintained in cash or in cash equivalents as prescribed by the commissioner. D. Domestic stock insurers authorized to transact homeowners' insurance or fire and allied lines after September 1, 1989, shall have paid-in capital, minimum surplus, and operating surplus in the amount of five million dollars on or after December 31, 2026, and ten million dollars on or after December 31, 2031. E. Domestic stock insurers who apply for a certificate of authority on or after September 1, 2022, that includes the lines of homeowners' insurance or fire and allied lines shall have paid-in capital, minimum surplus, and operating surplus in the amount of ten million dollars. Acts 1989, No. 562, §1; Acts 2003, No. 131, §1; Acts 2005, No. 27, §1, eff. June 9, 2005; Redesignated from R.S. 22:71.1 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 326, §1, eff. Jan. 1, 2010; Acts 2009, No. 503, §1; Acts 2022, No. 60, §1, eff. Jan. 1, 2023; Acts 2022, No. 69, §1. NOTE: Former R.S. 22:82 redesignated as R.S. 22:94 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.