Louisiana Incentive Compensation Plan

State:
Multi-State
Control #:
US-CC-20-104
Format:
Word; 
Rich Text
Instant download

Description

This is a multi-state form covering the subject matter of the title.
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FAQ

Incentive pay is a type of wage or salary payment that is made to employees in addition to their normal wages or salaries. Incentive pay is designed to motivate employees to work harder or to achieve specific goals. It can take the form of individual bonuses, group bonuses, or profit sharing payments.

The Insure Louisiana Incentive Program (?Incentive Program?) was enacted through the passage of Act 754 of the 2022 Regular Session of the Louisiana Legislature for the purpose of cooperative economic development and stability in Louisiana by encouraging additional property insurers to participate in the voluntary ...

Based on Bankrate's research, USAA, Allstate, State Farm, The Hanover and Progressive are writing the best homeowners insurance in Louisiana. Natalie Todoroff is an insurance writer for Bankrate, prior to which she wrote for a popular insurance comparison shopping app.

Lawmakers have set aside $55 million for the program, money that's destined for insurance companies that write policies for five years. Participating insurers get $1 from the state for every $4 in premium they write, as long as they keep the policies for five years.

Lawmakers say up to 90,000 property owners could get cheaper plans from these insurers. NEW ORLEANS ? Louisiana lawmakers approved $42 million in incentive payments to give a boost to the state's struggling property insurance market.

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Louisiana Incentive Compensation Plan