The Louisiana Department of Insurance (LDI) said it has successfully completed the requirements and earned full national accreditation from the National Association of Insurance Commissioners (NAIC) for its work to promote effective financial solvency regulation.
NAIC CFO James Woody said in a letter to Commissioner Tim Temple that the department’s continued accreditation in the Financial Regulation Standards and Accreditation Program “helps ensure that insurance consumers are well protected through proper financial solvency monitoring of insurance companies.”
The NAIC’s voted to accredit the department during the NAIC Spring National Meeting in Indianapolis. The NAIC sets the insurance regulatory standards for all U.S. states, the District of Columbia and five U.S. territories.
A state insurance department earns NAIC accreditation after meeting strict oversight standards to ensure that the department effectively regulates the insurance industry to protect consumers and maintain market stability, and that all other states can rely on the department’s work.
In addition, the LDI has been selected for several NAIC leadership roles in 2025.
Commissioner Temple was appointed to co-vice chair the International Insurance Relations Committee and was selected as vice chairman of the Surplus Lines Task Force. He will also serve on the Government Relations Leadership Council and Reinsurance Task Force.
The International Insurance Relations Committee coordinates NAIC participation in international discussions on the development of insurance regulatory and supervisory standards and promotes international cooperation.
The NAIC Surplus Lines Task Force reviews and makes recommendations regarding surplus lines insurance. Surplus lines insurance is an alternative type of property and casualty insurance coverage for consumers who cannot get coverage in the standard market.
Tom Travis, Deputy Commissioner of the Office of Policy, Innovation and Research, was appointed to serve on the Climate and Resiliency Task Force. Chief Actuary Nichole Torblaa was selected to serve as a member of the Casualty Actuarial and Statistical Task Force. Melissa Gibson, Deputy Commissioner of Financial Solvency, was selected to serve on the Capital Adequacy Task Force, Examination Oversight Task Force, Financial Stability Task Force, Receivership and Insolvency Task Force, and Valuation of Securities Task Force.
Nathan Strebeck, Deputy Commissioner of the Division of Insurance Fraud, was appointed to serve on the Antifraud Task Force. Ron Henderson, Deputy Commissioner of the Division of Consumer Advocacy, Diversity and LaSHIP, was selected to serve on the NAIC/Consumer Liaison Committee and Chuck Myers, Deputy Commissioner of the Office of Property and Casualty, was appointed to the Risk Retention Group Task Force. Matt Stewart, Deputy Commissioner of Licensing, will serve on the Producer Licensing Task Force.
Source: LDI
Topics Louisiana Leadership
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