When must a surplus lines producer report to the Louisiana Department of Insurance?

The requirement for a surplus lines producer to report to the Louisiana Department of Insurance is specifically tied to the placement of coverage with non-admitted insurers. In the context of surplus lines, non-admitted insurers are those not licensed to do business in the state and are sought out when coverage is unavailable through admitted insurers. The Louisiana Department of Insurance mandates that surplus lines producers report the placement of such coverage to ensure proper oversight and regulation. This reporting helps maintain transparency in the insurance market and ensures that policyholders are informed about the nature of their coverage and the insurer's status.

The other options do not align with the reporting requirement established by the Louisiana Department of Insurance. Simply issuing a policy does not trigger a requirement to report unless it specifically involves a non-admitted insurer. Reporting at the end of the fiscal year or upon client request does not fulfill the obligation to appropriately inform the Department regarding placements with non-admitted insurers, which is essential for regulatory compliance and consumer protection.