Surrender of License for
Vehicle Mechanical Breakdown Insurer
or Property Residual Value Insurer

Vehicle mechanical breakdown licenses and property residual value insurer licenses expire annually on March 15. The license shall be renewed by payment of the required $1,500 after January 1 and before March 15 of each year. A company which will no longer be doing business in Louisiana may allow the license to lapse or submit a written statement requesting to surrender the license.

A request for surrender of the license must include the original license issued by the LDI or an affidavit signed by an officer of the company stating that the license cannot be located. The package should be sent to:

Louisiana Department of Insurance
Company Licensing
1702 N. 3rd St
Baton Rouge, LA 70802

If the licensee is seeking release of the statutory deposit, the request must also include information on how the policies/contracts of the company were disposed of, the date of the last policy/contract issued in Louisiana and an affidavit stating that the company has no liabilities due and no suits pending arising from policies or contracts issued in Louisiana.