The Louisiana legislature just completed their 2016 legislative session. In most Texas agencies, this was not big news. However, if you happen to be a nonresident licensed agent in Louisiana, who happens to have placed business with Louisiana Citizens Property Insurance Corporation, it is a big deal.
The legislature passed HB No. 915; ACT No. 367, which included the addition of the words: “resident in this state.” The addition of these words means that the State of Louisiana will no longer allow Texas agents, or any other nonresident agents, to place business with their wind facility, La. Citizens.
A letter sent to all nonresident agents who previously had placed business in La. Citizens stated that, unless agents provide a resident licensed producer, their business will be taken from them and will be set to “roll to LCPIC.”
IIAT believes that this action was very short sighted and we will propose legislation that will allow nonresident agent access to TWIA, only if their state allows Texas agents access to their wind pool.