INSURANCE: Creates the Louisiana Commercial Trucking Insurance Market Reform Act relative to captive insurers (OR INCREASE EX See Note)

HB 932 creates the Louisiana Commercial Trucking Insurance Market Reform Act, requiring captive insurers (companies that own their own insurance) to pay 3% of premiums they retain from Louisiana trucking risks into a new Market Access Fund. This fund will help small trucking companies (defined as owning fewer than 25 vehicles) access affordable insurance through a group purchasing pool, while also setting minimum financial reserves for captive insurers to ensure claims can be paid. The bill mandates clear disclosure of insurance coverage details in accident claims and requires captive insurers to contribute annually by March 31, with penalties for non-payment including suspension of operating authority. These provisions directly affect Louisiana-domiciled commercial trucking companies and captive insurers operating in the state.