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Retaliatory Statement

Below are listed the statutory surplus and capital requirements and applicable taxes and fees for an insurance company to be admitted into the State of Louisiana. The capital and surplus figures are minimums only. The LDI may require an insurer to have and maintain a greater amount of captial and surplus based upon the type, volume and nature of the insurance business transacted.

Stock Corporation

Type of Business

Paid-in
Capital

Minimum Surplus

Operating
Surplus

Life

$100,000

$1,900,000

$1,000,000

Health and accident

$100,000

$1,900,000

$1,000,000

Life, health and accident

$100,000

$1,900,000

$1,000,000

Vehicle

$650,000

$1,350,000

$1,000,000

Liability

$650,000

$1,350,000

$1,000,000

Worker’s compensation

$650,000

$1,350,000

$1,000,000

Burglary and forgery

$650,000

$1,350,000

$1,000,000

Fidelity

$650,000

$1,350,000

$1,000,000

Title

$100,000

$   400,000

$   500,000

Fire and allied lines

$650,000

$1,350,000

$1,000,000

Steam boiler & sprinkler leakage

$650,000

$1,350,000

$1,000,000

Crop

$650,000

$1,350,000

$1,000,000

Marine and transportation

$650,000

$1,350,000

$1,000,000

Miscellaneous

$650,000

$1,350,000

$1,000,000

Homeowners’ insurance

$650,000

$1,350,000

$1,000,000

Credit life, health and accident

$100,000

$1,900,000

$1,000,000

Credit property and casualty

$650,000

$1,350,000

$1,000,000

Annuity

$100,000

$1,900,000

$1,000,000

Surety

$650,000

$1,350,000

$1,000,000

Industrial fire

$200,000

$   800,000

$1,000,000

All insurance, except title & life

$650,000

$1,350,000

$1,000,000

Mutual Corporation

Type of Business

Initial Minimum Surplus

Operating
Surplus

Life

$2,000,000

$1,000,000

Health and accident

$2,000,000

$1,000,000

Life, health and accident

$2,000,000

$1,000,000

Vehicle

$2,000,000

$1,000,000

Liability

$2,000,000

$1,000,000

Worker’s compensation

$2,000,000

$1,000,000

Burglary and forgery

$2,000,000

$1,000,000

Fidelity

$2,000,000

$1,000,000

Title

$   500,000

$   500,000

Fire and allied lines

$2,000,000

$1,000,000

Steam boiler & sprinkler leakage

$2,000,000

$1,000,000

Crop

$2,000,000

$1,000,000

Marine and transportation (except hull)

$2,000,000

$1,000,000

Miscellaneous

$2,000,000

$1,000,000

Homeowners’ insurance

$2,000,000

$1,000,000

Credit life, health and accident

$2,000,000

$1,000,000

Credit property and casualty

$2,000,000

$1,000,000

Annuity

$2,000,000

$1,000,000

Surety

$2,000,000

$1,000,000

Industrial fire

$1,000,000

$1,000,000

All insurance, except title & life

$1,000,000

$1,000,000


The following fees and taxes are charged upon the filing of an application for Certificate of Authority.

Certificate of Authority - $2,500                   Recordation of Charter - $25

License Tax:

Property and Casualty - Minimum Tax is $185 if gross annual premium is less than $6,000. Otherwise, the tax is $185 plus $300 for each $10,000 or faction thereof over the first $6,000.
               
Life and Health – Minimum Tax is $140 if gross annual premium is less than $7,000. Otherwise, the tax is $140 plus $225 for each $10,000 or fraction thereof over the first $7,000.
                                
Statutory Deposits are required as indicated below:

A safekeeping or trust receipt from a Louisiana bank or savings and loan association verifying that one hundred thousand dollars ($100,000) has been deposited in that institution and pledged to the Commissioner of Insurance of the State of Louisiana.

OR a Certificate of Deposit from the domiciliary state of the insurer indicating that a deposit of not less than $500,000 is held in that state for the benefit of all policyholders.