Louisiana’s Insurance Commissioner Jim Donelon Elected to Serve as Secretary-Treasurer of the National Association of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) elected Louisiana Insurance Commissioner James J. Donelon as Secretary-Treasurer for 2011 at the fall meeting on October 21, 2010. Donelon is presently serving on the Executive Committee of the NAIC and is chairman of its Surplus Lines Task Force. Donelon will assume his new role on January 1, 2011.
“I am delighted and honored to have the opportunity to serve the NAIC at this level,” said Donelon. “With the passage of recent congressional legislation on both financial and health care reform, the NAIC has a critical role in the implementation of those measures as they impact the insurance markets and consumers across the nation. As Secretary-Treasurer of the NAIC, I will work toward creating a smooth transition for consumers and the insurance industry as we face many challenges in preparing for the effective dates of these two bills. I embrace this opportunity to engage in the national insurance debate on a leadership level which will place Louisiana at the forefront in the study and development of insurance regulation.”
In his role as Louisiana’s Insurance Commissioner, Donelon has succeeded in promoting significant regulatory reforms over the last several years. Statewide building codes were adopted in 2005 immediately after Hurricanes Katrina and Rita and financial incentives were created for homeowners to build and retrofit properties in accordance with the new State Uniform Construction Code,
Donelon led the effort to create the Insure Louisiana Incentive Program, which attracted five new companies to Louisiana’s homeowner’s market and succeeded in reducing the total number of property and casualty policies in Louisiana Citizens from 170,000 to 127,000. To date, 12 new-to-Louisiana are writing policies in coastal areas of the state. During Donelon’s tenure, one of the last Insurance Rating Commissions in the nation was abolished eliminating an impediment to companies coming to do business in Louisiana. He also championed successful legislative initiatives that limit named-storm deductibles to one per hurricane season and increased the Louisiana Guaranty Association coverage to $500,000 per claim.
Donelon joined the staff of the Louisiana Department of Insurance in 2001. He became Louisiana Insurance Commissioner in February 2006 and has been elected twice to the position. A retired State Judge Advocate for the Louisiana Army National Guard, Donelon’s career at the Department of Insurance includes serving as both Chief Deputy Commissioner and Executive Counsel. He is also a former Parish Council Chairman for Jefferson Parish and a Louisiana State Representative where he chaired the Committee on Insurance. Donelon is a graduate of the University of New Orleans and Loyola School of Law.