The Office of Financial Solvency examines and monitors the financial condition of all insurance companies licensed in Louisiana, and examines and monitors market conduct activities of all insurers doing business in Louisiana to assure fairness to policyholders.
Caroline Brock, Deputy Commissioner of Financial Solvency
Richard Piazza, Chief Actuary
Stewart Guerin, Chief Examiner
Craig Gardner, Chief Examiner
The Actuarial Division is composed of two units: the Life and Health Actuarial Unit and the Property and Casualty Actuarial Unit.
The Life and Health Actuarial Unit provides actuarial expertise in the determination of the adequacy of the reserve liabilities established by life and health insurers and health maintenance organizations.
The Property and Casualty Actuarial Unit provides similar actuarial and reinsurance expertise to the examination and analysis of property and casualty insurers, title insurers, vehicle mechanical breakdown companies and self-insurance funds.
Rodney Friedy, Director of Life and Health Services and Reinsurance
Wei Chuang, Director of Property & Casualty Actuarial Services
Financial Examination & Analysis Division
The Financial Examinations Unit performs on-site examinations, at least once every five years as required by statute, of the financial, corporate and marketing practices of Louisiana domiciled insurers under the provisions and requirements of the Louisiana Insurance Code. Examinations may entail a review of all operations of insurers and their related transactions with affiliates, or be confined to limited or targeted areas relating to the insurers' activities.
Cindy Riviere, Assistant Chief Examiner - Financial Examinations
Melissa Gibson, Financial Examinations Manager
The Financial Analysis Unit analyzes the periodic financial statements and other required filings of licensed insurers. The activities of the analysts are important in the early detection of financially troubled insurers. During the course of the year, the analyst will review consumer complaint data, financial statements, holding company registration statements, affiliated transactions, investments and other items. In addition, this unit performs financial reviews of insurance company acquisition transactions and insurance company licensing applications and mergers.
William Werner, Assistant Chief Examiner - Financial Analysis
Leslie Monson, Financial Analysis Manager
The Market Conduct Division monitors the sale, marketing, underwriting, policy issuance and claims administration activities of insurance companies and producers; determines whether the acts and/or pratices of insurance companies are unfair and/or deceptive to policyholders and/or beneficiaries; and determines if the practices are in violation of Louisiana insurance laws or regulations.
In addition to halting any illegal, unfair or deceptive practices, the Market Conduct Division also seeks sanctions or penalties against insurers and agents for these practices.
Larry Hawkins, Director of Market Conduct Division
The Receivership Section plans, coordinates and administers the rehabilitation
and liquidation of insolvent insurers pursuant to Part XVI and other applicable
statutes contained in the Louisiana Insurance Code (Title 22 of the Louisiana Revised
Statutes) and under the supervision of the 19th Judicial District Court of Louisiana.
The goal of the rehabilitation process is to restore troubled insurers to financial
health whenever possible. Absent successful restoration of the insurers' financial
status, the goal of liquidation is to maximize the value of the assets of the failed
insurers and to distribute assets equitably in accordance with the priority of claims
prescribed by law.
Barry Karns, Director of Receivership