A couple of days ago, I wrote about a proposal to abolish the LIRC in Louisiana.
The bill to do that is moving out of committee, and it includes an annoying additional provision. Per the NOLA Times-Picayune:
Quinn rewrote that part of the bill to require the company actuary or the actuary’s designee who files the rate request to be held accountable for the veracity of the filing data or face a fine of $10,000 to $25,000.
Now, I don’t mind being held accountable for my filings, and presumably my employer would indemnify me if the state took issue and there was no indication of intentional wrongdoing. But, that size of a fine and the potential of innocent/inadvertent mistakes being made will give me a little bit of discomfort the next time I’m asked to make a Louisiana filing.