reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-147 - INSURANCE PRODUCERS, TEMPORARY PRODUCERS, AND SERVICE REPRESENTATIVES › Section 482-1-147-.10 - Appointments

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Any producer,
			 including individuals and business entities, acting on behalf of an insurer
			 must be appointed by the insurer. All temporary producers and service
			 representatives must be appointed by any and all insurers they
			 represent.
(2) All appointments are
			 handled on-line through NIPR.
(3)
			 The notice of appointment shall be completed by the insurer within 15 days from
			 the date the agency contract is executed or the first insurance application is
			 submitted, whichever occurs first.
(4) Insurers may terminate an appointment at
			 any time, subject to the appointee's contract rights, if any. If a licensee
			 wishes to cancel an insurer appointment, the licensee should request the
			 insurer to cancel the appointment. All appointment cancellations are handled
			 on-line through NIPR.
(5) All
			 insurers terminating an appointment for reason of "Request Regulator Review,"
			 "Company Indebtedness," or any other involuntary reason other than inadequate
			 production, shall provide the Department with a statement of the facts relative
			 to the termination and cause thereof, together with any documentation. Any such
			 information provided to the Department is privileged according to
Code of Ala. 1975
, §
								27-7-30(h), and
			 confidential according to
Code of Ala. 1975
, §
								27-7-30.3.
(6) Insurers shall comply with the
			 appointment continuation requirements set forth in Chapter 482-1-109.
(7) The fees associated with initial
			 appointments are as follows:
(a) The notice of
			 appointment fee for producers is $40 per insurer.
(b) The notice of appointment fee for
			 temporary producers is $40 plus the $50 license fee and $30 application fee,
			 for a total of $120 to be paid by the insurer at the time of filing the notice
			 of appointment.
(c) The notice of
			 appointment fee for service representatives is $40 plus a $30 application fee,
			 for a total of $70 to be paid by the insurer at the time of filing the notice
			 of appointment.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-147 - INSURANCE PRODUCERS, TEMPORARY PRODUCERS, AND SERVICE REPRESENTATIVES › Section 482-1-147-.12 - Fingerprinting

Current through Register Vol. 42, No. 9, June 28, 2024
Individuals applying for an initial resident license as
				insurance producer or applying for an additional line of authority under an
				existing resident license as insurance producer are subject to the requirements
				set forth in Chapter 482-1-157.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-4.4,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-147 - INSURANCE PRODUCERS, TEMPORARY PRODUCERS, AND SERVICE REPRESENTATIVES › Section 482-1-147-.13 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this chapter or the
			 applicability of the provision to other persons or circumstances shall not be
			 affected.
(2) This chapter shall
			 become effective January 1, 2013, upon its approval by the Commissioner of
			 Insurance and upon its having been on file as a public document in the office
			 of the Secretary of State for ten days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-4.3,
				  27-7-5,
				  27-7-23,
				  27-7-24,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.01 - Purpose, Scope And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The purposes of
			 this chapter are as follows:
(a) To set forth
			 rules and procedural requirements the Commissioner deems necessary to carry out
			 the provisions of Chapter 25 of
Code of Ala. 1975
,
			 Tit. 27, relating to the licensing of title insurance agents; the issuance of
			 title insurance agent appointments; and the various types of disciplinary
			 action concerning licenses and grants of authority.
(b) To set forth the procedures for the
			 renewal of licenses of title insurance agents, as is required by
Code of Ala. 1975
, §
									27-25-4.2.
(c) To implement the continuing education
			 requirements for title insurance agents set forth in
Code of Ala.
			 1975
, §
									27-25-4.4.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
Unless the context otherwise requires, terms found in this
				chapter are used as defined in
Code of Ala. 1975
,
				§
								27-25-3. Additionally, the
				following terms shall be defined for purposes of this chapter as
				follows:
(a) BUSINESS ENTITY. A
			 domestic entity properly formed and existing under
Code of Ala.
			 1975
, Tit. 10A.
(b)
			 INDIVIDUAL. A natural person.
(c)
			 LICENSEE. A title insurance agent licensed in accordance with this
			 chapter.
(d) NAIC. The National
			 Association of Insurance Commissioners or its affiliates or subsidiaries, and
			 any successor thereof.
(e) NIPR.
			 The National Insurance Producer Registry.
(f) PERSON. An individual or business
			 entity.
(g) PRINCIPAL PLACE OF
			 BUSINESS. The place from which a business entity's officers or other principals
			 direct, control, and coordinate the entity's business activities.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-5-4,
et
				  seq
., 27-25-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.03

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-5-4,
et
				  seq
., 27-25-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.04

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-5-4,
et
				  seq
., 27-25-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.05

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-5-4,
et
				  seq
., 27-25-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.06 - Title Insurance Agent Examinations

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
(a)
			 Except as provided in paragraph (2), all individuals must successfully pass an
			 examination prior to becoming licensed as a title insurance agent.
(b) An outline of the examination will be
			 posted on the Department's Web site setting forth the number of questions on
			 the examination from each test section and the time allowed within which to
			 complete the examination.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.07 - Title Insurance Agent License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All title
			 insurance commitments, policies and endorsements issued by a title insurance
			 agent and insuring an interest in real property situated in this state must be
			 issued and signed by a duly licensed and appointed title insurance agent. The
			 signature block shall contain the license number for the issuing agent and of
			 the signing agent.
(2) Business
			 Entity Agent. A business entity may be issued a title insurance agent license
			 in accordance with the following:
(a) To be
			 licensed as a title insurance agent, a business entity must be an Alabama
			 entity properly formed and existing under
Code of Ala.
			 1975
, Tit. 10A and must have its principal place of business
			 physically located in this state. A sole proprietorship can only be licensed as
			 an individual title agent. One or more individuals doing business under a trade
			 name cannot obtain a business entity title agent license absent formal
			 organization as an entity.
(b) The
			 entity shall complete the Department's on-line licensing process to become
			 licensed as a title insurance agent.
(c) The entity must identify at least one
			 licensed individual title insurance agent designated as responsible for the
			 entity's compliance with all applicable laws, rules, and regulations, and
			 designated to act as signatory on title insurance commitments, policies and
			 endorsements issued by the business entity agent. The licensed individual title
			 insurance agent so designated must have such a degree of affiliation with the
			 entity in terms of an ownership interest in the entity, a role as an officer or
			 director, employment relationship, or otherwise as reasonably assures that the
			 licensed individual agent can cause or influence the entity's compliance with
			 all applicable laws, rules, and regulations, including but not limited to the
			 requirements set forth in paragraph (3) below.
(d) Business entity title insurance agents
			 must be appointed to act on behalf of a title insurer and must be appointed by
			 each title insurer it represents. A business entity is deemed to be
			 representing or acting on behalf of a title insurer upon entering into an
			 agency contract or agreement with the insurer. Each individual title insurance
			 agent acting on behalf of the business entity title agent must also be
			 appointed to represent the insurer.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.08 - Renewal Of Licenses

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All
			 title insurance agents licensed in the State of Alabama are required to
			 complete an application for license renewal with the Department according to
			 the schedule set forth in this rule, which shall include the payment of the
			 applicable fees, provided in
Code of Ala. 1975
, §
								27-25-4.7(a)(1),
			 as set forth below:
(a) For individual
			 licensees:
1. For renewals received on or
			 before the license expiration date, the biennial license renewal fee
			 $40.00
2. For renewals received
			 during the first 30 days following the license expiration date, the biennial
			 license renewal fee plus the $50.00 late renewal fee $90.00
3. For reinstatements received after the
			 first 30 days following the license expiration date but within 12 months
			 following the license expiration date, double the biennial license renewal fee
			 [as required in Code of Ala. 1975, §
										27-25-4.2(d)]
			 $80.00
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.08 - Renewal Of Licenses

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All
			 title insurance agents licensed in the State of Alabama are required to submit
			 a completed application for license renewal with the Department and remit fees
			 required in
Code of Ala. 1975
, §
								27-25-4.7(a)(1),
			 adjusted according to Ala. Code 1975, §
								41-1-11, as set forth below:
(a) For individual licensees:
1. For renewals received on or before the
			 license expiration date, the biennial license renewal fee $47
2. For renewals received during the first 30
			 days following the license expiration date, the biennial license renewal fee
			 plus the $59 late renewal fee $106
3. For reinstatements received after the
			 first 30 days following the license expiration date but within 12 months
			 following the license expiration date, double the biennial license renewal fee
			 [as required in Code of Ala. 1975, §
										27-25-4.2(d)]
			 $94
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.09 - Continuing Education

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
(a) Individual licensees shall satisfactorily
			 complete such courses or programs of instruction as may be approved in
			 accordance with this chapter in the minimum number of 24 classroom hours, 3
			 hours of which shall be on the topic of ethics, in order to be eligible to
			 renew a title insurance agent license, except as otherwise indicated in this
			 rule.
(b) Licensees Born in
			 Odd-numbered Years, Renewal in 2015 and thereafter. Along with the renewal of
			 license due to be completed in accordance with paragraph (2) of Rule
			 482-1-148-.08 in the year 2015
			 and in every other year thereafter, every individual licensee born in an
			 odd-numbered year shall satisfactorily complete such courses or programs of
			 instruction as may be approved in accordance with this chapter in the minimum
			 number of 24 classroom hours, 3 hours of which shall be on the topic of
			 ethics.
(c) Licensees Born in
			 Even-numbered Years, Renewal in 2016 and thereafter. Along with the renewal of
			 license due to be completed in accordance with paragraph (2) of Rule
			 482-1-148-.08 in the year 2016
			 and in every other year thereafter, every individual licensee born in an
			 even-numbered year shall satisfactorily complete such courses or programs of
			 instruction as may be approved in accordance with this chapter in the minimum
			 number of 24 classroom hours, 3 hours of which shall be on the topic of
			 ethics.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.10 - Continuing Education Providers

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The
			 Commissioner shall approve and authorize providers of continuing education
			 courses and programs, and will designate any such course as being acceptable
			 for the purposes of this chapter. Each such authority holder must apply
			 annually for the continued authority to offer continuing education courses in
			 this state.
(2) The courses or
			 programs of instruction successfully completed which shall be deemed to meet
			 the Commissioner's standards for continuing educational requirements and the
			 number of classroom hours for which they are equivalent are:
(a) Any course or program of instruction or
			 seminar shall, subject to the approval of the Commissioner, qualify for the
			 equivalency of the number of classroom hours assigned thereto by the
			 Commissioner.
(b) Any
			 correspondence or internet course approved by the Commissioner shall qualify
			 for the equivalency of the number of classroom hours assigned thereto by the
			 Commissioner. To be approved, a correspondence or internet course must include
			 an appropriate testing instrument requiring a grade of 70 percent to
			 successfully complete the course. The examination must be administered by a
			 third-party proctor, who must sign an affidavit attesting to the fact that the
			 student received no outside assistance in the completion of the final
			 examination. The proctor cannot be a friend, relative, or coworker of the
			 licensee, nor anyone with a financial interest in the success of the licensee
			 taking the examination.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.11 - Appointments

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All title
			 insurance agents, including individuals and business entities, must be
			 appointed by any and all title insurers they represent.
(2) All appointments are handled on-line
			 through NIPR.
(3) The notice of
			 appointment shall be completed by the insurer within 15 days from the date the
			 agency contract is executed or the first insurance application is submitted,
			 whichever occurs first.
(4)
			 Insurers may terminate an appointment at any time, subject to the appointee's
			 contract rights, if any. If a licensee wishes to cancel an insurer appointment,
			 the licensee should request the insurer to cancel the appointment. All
			 appointment cancellations are handled on-line through NIPR.
(5) Insurers shall comply with the
			 appointment continuation requirements set forth in Chapter 482-1-109.
(6) The fees associated with appointments,
			 provided in
Code of Ala. 1975
, §
								27-25-4.7(a)(2),
			 are as follows:
(a) Notice of appointment fee,
			 per agent per company $30.00
(b)
			 Annual continuation of appointment fee, per agent per company $10.00
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.12 - Compliance

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
(a) Every title insurance agent subject to
			 this chapter shall complete an application for license renewal in accordance
			 with Rule
			 482-1-148-.08.
(b) The license of any individual or business
			 entity title insurance agent failing to complete the application for license
			 renewal within the time specified in paragraph (2) of Rule
			 482-1-148-.08 will expire but
			 there is a 30-day grace period following the expiration during which time the
			 licensee can renew with payment of the late fee plus the renewal fee. If the
			 licensee shall complete the application for license renewal prior to the end of
			 said 30-day grace period, along with the payment of the applicable fees, the
			 license will not expire.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.14

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-5-4,
et
				  seq
. (2012), 27-25-8 (2001).
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-148 - TITLE INSURANCE AGENTS › Section 482-1-148-.15 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this chapter or the
			 applicability of the provision to other persons or circumstances shall not be
			 affected.
(2) This chapter shall
			 become effective January 1, 2013, upon its approval by the Commissioner of
			 Insurance and upon its having been on file with the Legislative Reference
			 Service for 3 5 days, subject to review by the Joint Committee on
			 Administrative Regulation Review.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§2 7-5-4, et seq. (2012), 27-25-8 (2001).
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to prescribe requirements for
				the filing of loss reserve actuarial opinions, actuarial opinion summary, and
				actuarial report and workpapers by property and casualty
				insurers.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.02 - Scope

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall apply to all property and casualty insurers
				authorized or admitted to transact business in this state.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.03 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is adopted pursuant to Sections
				27-2-17 and
				27-3-26.1,
Code of
				Ala. 1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.04 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
(a) COMMISSIONER.
			 The Alabama Commissioner of Insurance.
(b) DEPARTMENT. The Alabama Department of
			 Insurance.
(c) NAIC. The National
			 Association of Insurance Commissioners.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.05 - Statement Of Actuarial Opinion

Current through Register Vol. 42, No. 9, June 28, 2024
(a)
			 Every property and casualty insurer authorized or admitted to transact business
			 in this State shall annually submit the opinion of an appointed actuary
			 entitled "Statement of Actuarial Opinion."
(b) The actuarial opinion required pursuant
			 to (a) above shall be filed in accordance with the appropriate NAIC Property
			 and Casualty Annual Statement Instructions.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.06 - Actuarial Opinion Summary

Current through Register Vol. 42, No. 9, June 28, 2024
(a)
			 Every property and casualty insurance company domiciled in this state that is
			 required to annually submit a Statement of Actuarial Opinion shall annually
			 submit an Actuarial Opinion Summary, written by the company's Appointed
			 Actuary. This Actuarial Opinion Summary shall be filed in accordance with the
			 appropriate NAIC Property and Casualty Annual Statement Instructions and shall
			 be considered a document supporting the actuarial opinion required by this
			 rule.
(b) A company licensed but
			 not domiciled in this state shall provide the actuarial opinion summary upon
			 request.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.07 - Actuarial Report And Workpapers

Current through Register Vol. 42, No. 9, June 28, 2024
(a) Every property and casualty insurance
			 company domiciled in this state that is required to annually submit a statement
			 of actuarial opinion shall annually file, by May 1 of each year, an Actuarial
			 Report and underlying workpapers that are required to be prepared by the
			 appropriate NAIC Property and Casualty Annual Statement Instructions to support
			 each Actuarial Opinion. A company licensed but not domiciled in this State
			 shall provide the Actuarial Report and workpapers upon request.
(b) If any insurance company fails to provide
			 a supporting Actuarial Report and/or workpapers as set forth in (a) above, or
			 the Commissioner determines that the supporting Actuarial Report and/or
			 workpapers provided by the insurance company are otherwise unacceptable, the
			 Commissioner shall so notify the insurance company. If the insurance company
			 fails to provide the requested information within 30 days of the date of the
			 request, the Commissioner may engage a qualified actuary at the expense of the
			 company to review the opinion and the basis for the opinion and prepare the
			 supporting Actuarial Report and/or workpapers.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.08 - Confidentiality

Current through Register Vol. 42, No. 9, June 28, 2024
(a) The Statement
			 of Actuarial Opinion shall be provided with the Annual Statement in accordance
			 with the appropriate NAIC Property and Casualty Annual Statement Instructions
			 and shall be treated as a public document.
(b) Documents, materials or other information
			 in the possession or control of the Department that are considered an Actuarial
			 Report, workpapers or Actuarial Opinion Summary provided in support of the
			 opinion, and any other material provided by the company to the Commissioner in
			 connection with the Actuarial Report, workpapers or Actuarial Opinion Summary,
			 shall be confidential and shall not be considered a public record.
(c) This rule shall not be construed to limit
			 the Commissioner's authority to release the documents to the Actuarial Board of
			 Counseling and Discipline (ABCD) so long as the material is required for the
			 purpose of professional disciplinary proceedings and that the ABCD establishes
			 procedures satisfactory to the Commissioner for preserving the confidentiality
			 of the documents, nor shall this rule be construed to limit the Commissioner's
			 authority to use the documents, materials or other information in furtherance
			 of any regulatory or legal action brought as part of the Commissioner's
			 official duties.
(d) In order to
			 assist in the performance of the Commissioner's duties, the Commissioner may:
1. Share documents, materials or other
			 information, including the confidential documents, materials or information
			 subject to
			 482-1-149-.08(b)
			 above with other state, federal and international regulatory agencies, with the
			 National Association of Insurance Commissioners and its affiliates and
			 subsidiaries, and with state, federal and international law enforcement
			 authorities, provided that the recipient agrees to maintain the confidential
			 status of the document, material or other information and has the legal
			 authority to maintain confidentiality;
2. Receive documents, materials or
			 information, including otherwise confidential documents, materials or
			 information, from the National Association of Insurance Commissioners and its
			 affiliates and subsidiaries, and from regulatory and law enforcement officials
			 of other foreign or domestic jurisdictions, and shall maintain as confidential
			 any document, material or information received with notice or the understanding
			 that it is confidential under the laws of the jurisdiction that is the source
			 of the document, material or information; and
3. Enter into agreements governing the
			 sharing and use of information consistent with
			 482-1-149-.08 (b and c) above and
			 this rule.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.09 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this chapter, or the application thereof to
				any person or circumstance, is held invalid, such determination shall not
				affect other provisions or applications of this chapter which can be given
				effect without the invalid provision or application, and to that end the
				provisions of this chapter are severable.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES › Section 482-1-149-.10 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective January 1, 2010, upon its
				approval by the Commissioner of Insurance and upon its having been on file as a
				public document in the office of the Secretary of State for ten days and shall
				apply to annual statements for the year 2010 and thereafter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to provide requirements for
				property insurers to periodically inform their insureds of their option to
				request a change to their Dwelling Coverage Limit. This chapter shall not be
				interpreted as creating an obligation, or duty, on behalf of insurers to select
				Dwelling Coverage limits for the insured.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to the general authority in Ala. Code §
								27-2-17 to address trade practices
				in the business of insurance.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.03 - Applicability

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter applies to Insurers as defined in
				482-1-150-.04(f).
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.04 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
For purposes of this chapter:
(a)
Dwelling Coverage
means
			 property insurance, typically designated as "Coverage A" in a homeowner
			 insurance policy (and not including Coverage B - Other Structures), written by
			 an Insurer on a dwelling used principally or primarily as a private residence.
			 Dwelling Coverage does not include property insurance covering mobile or
			 manufactured homes, condominiums, or commercial structures, or coverage under
			 renters' policies.
(b) The
Dwelling Coverage Limit
is the limit, expressed in dollars, of
			 the Insurer's liability for Dwelling Coverage as expressed for Coverage A in
			 the declaration page of a policy.
(c)
Replacement Cost
is the
			 estimated cost to rebuild the dwelling using like materials and construction at
			 current labor and material costs, and possibly including, but not limited to,
			 the cost of debris removal, building permits, architect fees, and compliance
			 with building ordinances or laws.
(d) The
Estimated Replacement Cost
			 Method
is the methodology used by the Dwelling Owner, Insurer, or on
			 behalf of the Insurer for calculating or changing the Dwelling Coverage
			 Limit.
(e) The
Dwelling
			 Owner
is the person or persons identified as the named insured in a
			 policy including Dwelling Coverage.
(f) An
Insurer
is an
			 insurance company authorized to provide property insurance including Dwelling
			 Coverage in the State of Alabama.
(g)
Owner Information
is
			 information about the insured structure(s) obtained by the Insurer from a
			 Dwelling Owner or other sources that is used by the Insurer in applying the
			 Estimated Replacement Cost Method to select the Dwelling Coverage
			 Limit.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.05 - Requirement for defined Estimated Replacement Cost Method

Current through Register Vol. 42, No. 9, June 28, 2024
Within the time specified in
				482-1-150-.07, an Insurer shall
				have in effect and adhere to an Estimated Replacement Cost Method which
				complies with the requirements of this chapter and is in a format that can be
				made available to the Commissioner in conjunction with an examination or
				otherwise upon request.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.06 - Required elements of the Estimated Replacement Cost Method

Current through Register Vol. 42, No. 9, June 28, 2024
The Estimated Replacement Cost Method used by an Insurer shall
				include the following:
(a) A
			 description of the method(s) used by the Insurer to establish the initial
			 Dwelling Coverage Limit or to change the Dwelling Coverage Limit at renewal. At
			 the Insurer's election, the methodology may employ a commercial computer
			 software program such as costing programs offered through (strictly by way of
			 example, not endorsement) Marshall & Swift/Boeckh, Xactware, e2Value, or
			 other third-party providers; an Insurer-developed proprietary computer software
			 program; a property appraisal, inspection, or survey; or any other method or
			 combination of methods used by the Insurer for establishing or changing the
			 Dwelling Coverage Limit.
(b) A
			 process by which the Insurer,
at each renewal
:
1. shall clearly notify the Dwelling Owner of
			 the change in the Dwelling Coverage Limit, if any;
2. shall clearly notify the Dwelling Owner of
			 its procedures for allowing the Dwelling Owner to request changes to the
			 Dwelling Coverage Limit at any time during the policy term;
3. shall request the Dwelling Owner to
			 provide updated Owner Information if the Dwelling Owner has recently modified,
			 updated, or remodeled the Dwelling or believes the renewal Dwelling Coverage
			 Limit to be inappropriate;
4. shall
			 recalculate, or change at Dwelling Owner's request, the appropriate Dwelling
			 Coverage Limit in the event that the Dwelling Owner provides new Owner
			 Information which would result in a change in the Dwelling Coverage Limit,
			 unless the Insurer has reasonable grounds to believe that the information is
			 not accurate;
5. shall determine by
			 application of its underwriting guidelines whether to modify the Dwelling
			 Coverage Limits accordingly and shall promptly inform the Dwelling Owner of its
			 decision in that regard (the Insurer will be expected to justify its decision
			 rejecting any cost estimate provided by the Dwelling Owner in the event of
			 inquiry by the Dwelling Owner or the Department of Insurance);
6. shall communicate such revised Dwelling
			 Coverage Limit to the Dwelling Owner; and
7. shall subsequently endorse or replace the
			 policy, if required, to reflect the revised Dwelling Coverage Limit.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.07 - Implementation schedule

Current through Register Vol. 42, No. 9, June 28, 2024
An Estimated Replacement Cost Method meeting the requirements
				of this chapter shall be put in effect and its use commenced on a date
				specified by the insurer, and the Method shall be applied to all new and
				renewal polices written after that date. The effective date specified by the
				insurer shall be not later than twelve (12) months after the effective date of
				this chapter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.08 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
The provisions of this chapter are severable. If any provision
				or the application thereof to any person or circumstance is held invalid for
				any reason, the invalidity shall not affect the other provisions or any other
				application of this chapter which can be given effect without the invalid
				provisions or application.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-150 - ESTIMATION OF REPLACEMENT COST OF INSURED DWELLINGS › Section 482-1-150-.09 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
Subject to the implementation schedule in Rule
				482-1-150-.07, this chapter shall
				become effective upon its approval by the Commissioner of Insurance and upon
				its having been on file as a public document in the office of the Secretary of
				State for ten days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-12-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.01 - Purpose, Scope, And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The purposes of
			 this chapter are as follows:
(a) To set forth
			 rules and procedural requirements the Commissioner deems necessary to carry out
			 the provisions of Chapter 9A,
Code of Ala. 1975
, Tit.
			 27, relating to the licensing of independent adjusters, apprentice independent
			 adjusters, and emergency independent adjusters; and the various types of
			 disciplinary action concerning licenses and grants of authority.
(b) To set forth the procedures for the
			 renewal of licenses of independent adjusters, as is required by
Code of Ala. 1975
, §
									27-9A-7(b).
(c) To implement the continuing education
			 requirements for independent adjusters set forth in
Code of Ala.
			 1975
, §
									27-9A-13.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.02

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.02-1 - Lines Of Authority

Current through Register Vol. 42, No. 9, June 28, 2024
An independent adjuster may qualify for a license in one or
				more of the following lines of authority:
(a) Property and Casualty. As described in
Code of Ala. 1975
, §§
								27-5-5 and
			 27-5-6.
(b) Workers' compensation. As described for
			 "workmen's compensation and employer's liability" in
Code of Ala.
			 1975
, §
								27-5-6(a)(3).
(c) Crop. As described in
Code of
			 Ala. 1975
, §
								27-7-14.1(a)(10).
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-3,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.03

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.04

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.05

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.06 - Independent Adjuster Examinations

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
(a) Except as provided in paragraph (3), all
			 individuals must successfully pass an examination prior to becoming licensed as
			 an independent adjuster for the following lines of authority:
1. Property and Casualty, excluding Workers'
			 Compensation and Crop.
2. Workers'
			 Compensation.
3. Crop.
4. Property and Casualty, including Workers'
			 Compensation and Crop.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.07 - Independent Adjuster License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Business Entity
			 Independent Adjuster. A business entity may be issued an independent adjuster
			 license in accordance with the following:
(a)
			 To be licensed as an independent adjuster, a business entity must be a
			 corporation, a limited liability company, a partnership, a limited partnership,
			 a limited liability partnership, or another legally recognized form of entity
			 distinct from an individual or the individuals or other entities that may own
			 or hold interests in, or be members of, the entity as determined by the laws of
			 the entity's state of domicile. A sole proprietorship can only be licensed as
			 an individual independent adjuster. One or more individuals doing business
			 under a trade name cannot obtain a business entity independent adjuster license
			 absent formal organization as an entity.
(b) A business entity shall complete the
			 Department's on-line licensing process to become licensed as an independent
			 adjuster for a particular line or lines of insurance.
(c) Issuance of an Alabama business entity
			 independent adjuster license to a foreign-domiciled business entity does not in
			 itself satisfy any applicable Alabama constitutional and statutory requirements
			 that may require the entity to qualify through or register with the Alabama
			 Secretary of State in order to lawfully do business in Alabama.
(d) The business entity license applicant
			 must identify at least one licensed individual independent adjuster designated
			 as responsible for the business entity's compliance with all applicable laws,
			 rules and regulations for each line of authority. The licensed individual
			 independent adjuster(s) so designated must have such a degree of affiliation
			 with the entity in terms of an ownership interest in the entity, a role as an
			 officer or director, by contract or employment relationship, or otherwise as
			 reasonably assures that the licensed individual independent adjuster can cause
			 or influence the entity's compliance with all applicable laws, rules, and
			 regulations.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.08 - Apprentice Independent Adjuster License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) An individual
			 otherwise qualified as an independent adjuster except as to having taken and
			 passed the written examination may apply for an apprentice independent adjuster
			 license, according to the requirements set forth in this rule for one or more
			 of the following lines of insurance:
(a)
			 Property and Casualty, excluding Workers' Compensation and Crop.
(b) Workers' Compensation.
(c) Crop.
(d) Property and Casualty, including Workers'
			 Compensation and Crop.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.09 - Emergency Independent Adjuster License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) An individual
			 may be registered as an Emergency Independent Adjuster according to the
			 requirements set forth in this rule.
(2) The insurer shall complete the
			 Department's on-line emergency independent adjuster registration process to
			 register each emergency independent adjuster deployed in this state.
Instructions for the on-line registration process, as they may
				change from time to time, will be provided on the Department's Web site.
(3) Insurers shall submit a
			 registration fee, adjusted according to
Code of Ala.
			 1975
, §
								41-1-11, of $60 for each emergency
			 independent adjuster deployed in this state. The Commissioner of Insurance
			 hereby sets this fee as is declared necessary for the administration and
			 enforcement of
Code of Ala. 1975
, §
								27-9A-5.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-5,
				  27-9A-18,
				  41-1-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.10 - Renewal Of Licenses

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All independent
			 adjusters licensed in the State of Alabama are required to complete an
			 application for license renewal with the Department according to the schedule
			 set forth in this rule, which shall include the payment of the applicable fees,
			 provided in
Code of Ala. 1975
, §
								27-4-2(a)(11) as
			 set forth below:
(a) For individual licensees:
1. For renewals received on or before the
			 license expiration date, the biennial license renewal fee $80.00
2. For renewals received during the first 30
			 days following the license expiration date, one and one-half times the biennial
			 license renewal fee [as required in
Code of Ala. 1975
,
			 §
										27-9A-7(c)]
			 $120.00
3. For renewals received
			 after the first 30 days following the license expiration date but within 12
			 months following the license expiration date, double the biennial license
			 renewal fee [as required in
Code of Ala. 1975
, §
										27-9A-7(d)]
			 $160.00