Louisiana Department of Insurance Actuary Recognized with Notable National Award

BATON ROUGE, La., Dec. 16 -- The Louisiana Department of Insurance issued the following news release:

Louisiana Department of Insurance Chief Actuary Rich Piazza has been awarded the Robert Dineen Award for Outstanding Service and Contribution to the State Regulation of Insurance. The National Association of Insurance Commissioners (NAIC) recognized Piazza with the award which is its highest honor for a staff member of an insurance department who has made a significant contribution to state regulation of insurance while exhibiting an attitude and performing activities fostering the advancement of the insurance regulatory profession.

"While Rich certainly meets any objective requirements for the Robert Dineen Award, he has a unique skill set that one rarely comes across and has set a high bar for talent and professionalism," said Insurance Commissioner Jim Donelon. "He served as our chief actuary through recovery from the worst natural disaster in U.S. history, guiding Louisiana and the Gulf Coast through uncharted territory. His acumen and insight helped Louisiana's property insurance market not only recover but expand."

Piazza is the first Louisiana regulator to receive this prestigious honor. He started working at the Louisiana Department of Insurance (LDI) in 1992 and is responsible for actuarial analysis for all lines of insurance. Over the course of his career with the LDI he has presented actuarial data and analysis to the general public, the Louisiana Legislature and industry groups. He has also contributed to the work of the NAIC through various committees, task forces and subgroups and added value to NAIC statistical products.

The NAIC is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S.

For a photo of the awards presentation, please click here (http://www.ldi.la.gov/images/default-source/default-album/rich-piazza-naic-award-cropped.jpg?Status=Temp&sfvrsn=6). About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state's insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov. Click here to download the LDI logo.

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