Louisiana insurance coverage commissioner to step down

Donelon stated he was hoping the transfer would “take away politics from the vitally essential upcoming legislative consultation, the place many important problems that care for the way forward for our state’s belongings insurance coverage marketplace can be debated and optimistically made up our minds to toughen that marketplace.”

He used to be first named insurance coverage commissioner in February 2006 and has since been re-elected for 4 complete phrases. The exiting commissioner used to be elected as Nationwide Affiliation of Insurance coverage Commissioners (NAIC) president in 2013, and is the chairman of the NAIC’s Surplus Traces Taskforce and is at the affiliation’s government committee.

Donelon used to be first elected to public place of business in 1975 when he used to be appointed chairman of the Jefferson Parish Council, consistent with the Louisiana Division of Insurance coverage.

Louisiana incentive plan replace

The insurance coverage commissioner published the scoop of his approaching departure as he gave an replace at the state’s incentive plan, supposed to strengthen an inflow of capability into the Pelican State, which has been grappling with an ill belongings marketplace and an attack of insurer exits.

Maximum just lately, UPC Insurance coverage’s insolvency within the wake of Typhoon Ian left tens of 1000’s of policyholders desiring to be rehomed, with fears that the drive would accentuate on insurer of ultimate hotel Voters.

9 insurers have carried out to Louisiana’s program, Donelon stated, in search of a complete of $62 million in grants.

Florida insurance coverage commissioner showed

Previous this week, it used to be showed that Michael Yaworsky would proceed within the position of Florida Insurance coverage Commissioner. Yaworsky were within the position on an period in-between foundation since February following the go out of former Florida Insurance coverage Commissioner David Altmaier, who has since been named to Aspen’s board.