LaMATS Declares “Tommy Coco Day”

Above: (L-R) LaMATS IPT Program Manager Mary Joseph, Department of Insurance Deputy Chief of Revenue Services, Tommy Coco and LaMATS Executive Director, Cliff Palmer

Louisiana Department of Insurance Deputy Chief of Revenue Services, Tommy Coco, was recognized February 19 by the nonprofit Louisiana Municipal Association (LMA) and its subsidiary the Louisiana Municipal Advisory & Technical Services Bureau (LaMATS) for his longtime assistance to the Bureau’s Insurance Premium Tax (IPT) collection service, which secures millions in revenue owed to local governments each year.

In a ceremony attended by Commissioner of Insurance Jim Donelon and Asst. Commissioner Lance Herrin, LMA Executive Director John Gallagher, LaMATS Board President Mayor Carroll Breaux, Executive Director Cliff Palmer and IPT Program Manager Mary Joseph, Coco’s early and instrumental support to the creation of the successful IPT program was detailed by Palmer, whose office has administered it since 1998.

“We didn’t know what we didn’t know about IPT at the beginning,” said Palmer. “We turned to Tommy and Lance at the Department of Insurance to show us the ropes.” In the twenty years since its inception, Coco has proved invaluable to the program, providing technical advice and in-depth knowledge of insurance industry trends to help LaMATS serve more than two-thirds of Louisiana municipalities today. LaMATS Board leader, Mayor Carroll Breaux of Springhill, affirmed that Louisiana’s local governments are critically dependent on sources of revenue like insurance premium taxes collected from underwriters who do business in the state.

At the end of brief remarks from LaMATS, Commissioner Donelon praised Coco’s “quiet and effective” public service. Afterwards, Coco received a small plaque and honorary declaration of “Tommy Coco Day” from LaMATS IPT Program Manager Mary Joseph.

Photo credit: Matt Mullenix