Louisiana received a “D” grade for overall quality of insurance regulation in the 2014 Insurance Regulation Report Card by R Street. The policy study judges how well states do regulating the business of insurance by assigning scores in twelve different areas that include insurer solvency, pricing flexibility, competitiveness and efficiency. Louisiana is among twelve states that received “D” or “F” grades. Three of the four largest states, California, New York and Florida, also received a “D” or “F.” California and North Carolina are the only two that received an “F.” The authors state that the report is “not intended as a referendum on specific regulators” and that a low score does not mean that a state’s insurance commissioner is inadequate anymore than an “A+” is an endorsement of an insurance department. They note that state legislatures more than regulators often control the conditions in the most heavily weighted variables examined in the report.