This section sets capital and surplus requirements for domestic stock insurers and limits what lines of insurance they may combine.
SUBPART B. DOMESTIC STOCK INSURERS §81. Capital requirements; applicants prior to September 1, 1989 A. Domestic stock insurers who apply for a certificate of authority prior to September 1, 1989, may transact the following kinds of insurance in this state upon qualifying therefor and by having paid-in capital and minimum surplus represented by assets as follows: Paid-in Minimum Insurance Capital Surplus (1) Life $ 100,000 $200,000 (2) Health and accident 100,000 200,000 (1) and (2) above 100,000 200,000 (3) Vehicle 650,000 350,000 (4) Liability 650,000 350,000 (5) Workers' compensation (a) Any company organized and authorized to transact workers' compensation only on or before July 27, 1966 100,000 50,000 (b) Any company organized and authorized to transact workers' compensation only after July 27, 1966 650,000 350,000 (6) Burglary and forgery 650,000 350,000 (7) Fidelity 650,000 350,000 (8) Title (a) Any company licensed to transact title insurance prior to September 1, 1985 50,000 25,000 (b) Any company licensed to transact title insurance on or after September 1, 1985 100,000 200,000 (9) Fire and allied lines 650,000 350,000 (10) Steam boiler and sprinkler leakage 650,000 350,000 (11) Crop (a) Any company organized and authorized to transact crop insurance only on or before July 27, 1966 100,000 150,000 (b) Any company organized and authorized to transact crop insurance only after July 27, 1966 650,000 350,000 (12) Marine and transportation 650,000 350,000 (13) Miscellaneous 650,000 350,000 (14) Homeowners' insurance 650,000 350,000 (15) Credit life, health, and accident insurance 100,000 200,000 (16) Credit property and casualty insurance 650,000 350,000 (17) Annuity 100,000 200,000 (18) Surety 650,000 350,000 (19) Industrial fire 200,000 100,000 (20) All insurances, except life and title or 650,000 350,000 combined capital and surplus 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. Domestic stock insurers who apply for a certificate of authority on or after September 1, 1989, shall meet the paid-in capital, minimum surplus, operating surplus, and other requirements of R.S. 22:82. D. Domestic stock insurers authorized to transact homeowners' insurance or fire and allied lines prior to 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. Acts 1958, No. 125. Amended by Acts 1958, No. 101, §1; Acts 1960, No. 139, §1; Acts 1966, No. 234, §1; Acts 1980, No. 470, §1; Acts 1980, 2nd Ex.Sess., No. 6, §1, eff. Sept. 15, 1980; Acts 1983, 1st Ex.Sess., No. 1, §6; Acts 1985, No. 718, §1, eff. Sept. 1, 1985; Acts 1989, No. 562, §1; Redesignated from R.S. 22:71 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. 22:81 redesignated as R.S. 22:93 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.