Louisiana Citizens Property Insurance Corporation, Coastal Plan and FAIR Plan (22:2291 to 22:2350)

What this document is

Louisiana Citizens Property Insurance Corporation, Coastal Plan and FAIR Plan (22:2291 to 22:2350) is a state statute published by Louisiana State Legislature (legis.la.gov), Louisiana Revised Statutes. It is one of the Louisiana documents that insurance license exam questions are written from, including louisiana property & casualty, louisiana personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• La. R.S. 22:2302(A) (Louisiana Citizens; eligibility to apply)

  “Any person having an insurable interest in insurable property and who has been denied coverage by one or more insurers authorized to write property insurance in this state is entitled to apply to the corporation, directly or through a representative, for such coverage through the Coastal Plan or...”

• La. R.S. 22:2329 (Coastal Plan; participants shall cede insurance)

  “Any participant in the plan shall cede to the plan one hundred percent of the essential property insurance written pursuant to and on the terms and conditions set forth in the plan.”

• La. R.S. 22:2303(A)(1) (Rates, rating plans, and rate rules; margin over comparison rates)

  “As residual markets, the plans made available by the Louisiana Citizens Property Insurance Corporation are not intended to offer rates competitive with the voluntary market. Rates for policies issued under the Coastal Plan and the FAIR Plan shall be set by the governing board of the Louisiana...”

• La. R.S. 22:2314(F) (Louisiana Citizens; take-out program policyholder rights)

  “The provisions of this Section shall not be construed to impair the right of any Louisiana Citizens Property Insurance Corporation policyholder, upon receipt of an approved take-out offer, to retain his current producer, so long as that producer is a licensed insurance producer authorized to bind...”

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