reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-098 - VALUATION OF INVESTMENTS › Section 482-1-098-.02 - Purpose And Scope

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All
			 securities owned by an insurer shall be valued in accordance with those
			 standards promulgated by the NAIC Capital Markets and Investment Analysis
			 Office (CMIAO). Any security owned by an insurer that has not been valued by
			 the CMIAO shall be submitted to the CMIAO for valuation in accordance with the
			 procedures of the CMIAO.
(2) Other
			 invested assets, not otherwise valued by statute, shall be valued in accordance
			 with the procedures promulgated by the NAIC's Financial Condition (E)
			 committee.
(3) Any security not
			 valued in accordance with this rule shall be carried as a non-admitted asset on
			 all financial statements of the insurer until such time as the insurer has
			 complied with Paragraph (1) or (2) of this rule.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-098 - VALUATION OF INVESTMENTS › Section 482-1-098-.03 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of the State
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-099 - CAPITAL AND SURPLUS REQUIREMENT › Section 482-1-099-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-099 - CAPITAL AND SURPLUS REQUIREMENT › Section 482-1-099-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The capital and surplus requirements in Sections
				27-3-7,
				27-27-15, and
				27-21A-12,
Code of
				Ala. 1975
, are minimums. The Commissioner may require additional
				capital and/or surplus based upon the type, volume and nature of insurance
				business transacted, consistent with the provisions of applicable law or the
				current risk based capital standards of the National Association of Insurance
				Commissioners.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-099 - CAPITAL AND SURPLUS REQUIREMENT › Section 482-1-099-.03 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of the State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to set forth the standards which
				the Commissioner may use for identifying insurers found to be in such condition
				as to render the continuance of their business hazardous to their
				policyholders, creditors or the general public. This chapter shall not be
				interpreted to limit nor expand the powers granted the Commissioner by any laws
				or parts of laws of this state, nor shall this chapter be interpreted to
				supersede any laws or parts of laws of this state.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17,
				  27-2-33,
				  27-3-21,
				  27-21A-17,
				  27-32-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to the authority set forth in Sections
				27-2-17,
				27-2-33,
				27-3-21,
				27-21A-17 and
				27-32-1, et seq.,
Code
				of Ala. 1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17,
				  27-2-33,
				  27-3-21,
				  27-21A-17,
				  27-32-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.04 - Commissioner's Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1) For the
			 purposes of making a determination of an insurer's financial condition under
			 this chapter, the commissioner may:
(a)
			 Disregard any credit or amount receivable resulting from transactions with a
			 reinsurer which is insolvent, impaired or otherwise subject to a delinquency
			 proceeding.
(b) Make appropriate
			 adjustments including disallowance to asset values attributable to investments
			 in or transactions with parents, subsidiaries, or affiliates consistent with
			 the NAIC Accounting Policies And Procedures Manual, state laws and
			 regulations.
(c) Refuse to
			 recognize the stated value of accounts receivable if the ability to collect
			 receivables is highly speculative in view of the age of the account or the
			 financial condition of the debtor.
(d) Increase the insurer's liability in an
			 amount equal to any contingent liability, pledge, or guarantee not otherwise
			 included if there is a substantial risk that the insurer will be called upon to
			 meet the obligation undertaken within the next 12-month period.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.05 - Judicial Review

Current through Register Vol. 42, No. 9, June 28, 2024
Any order or decision of the commissioner shall be subject to
				review in accordance with Section
				27-2-32,
Code of Ala.
				1975
, at the instance of any party to the proceedings whose
				interests are substantially affected.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17,
				  27-2-33,
				  27-3-21,
				  27-21A-17,
				  27-32-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.06 - Separability

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this chapter or the application thereto to
				any person or circumstance is for any reason held to be invalid, the remainder
				of the chapter and the application of such provision to other persons or
				circumstance shall not be affected thereby.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17,
				  27-2-33,
				  27-3-21,
				  27-21A-17,
				  27-32-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-101 - STANDARDS FOR DETERMINING HAZARDOUS FINANCIAL CONDITION › Section 482-1-101-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17,
				  27-2-33,
				  27-3-21,
				  27-21A-17,
				  27-32-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to require all insurers to file
				a copy of their annual statement with the National Association of Insurance
				Commissioners (NAIC).
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to the authority set forth in Sections
				27-2-17 and
				27-3-26,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.03 - Scope

Current through Register Vol. 42, No. 9, June 28, 2024
The provisions of this chapter shall apply to all domestic,
				foreign and alien insurers who are authorized to transact business in this
				state.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.04 - Filing Requirements

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Each
			 domestic, foreign and alien insurer who is authorized to transact insurance in
			 this state shall annually on or before March 1 of each year, file with the
			 National Association of Insurance Commissioners (NAIC), and pay the fee
			 established by the NAIC for filing, review or processing of the information, a
			 copy of its annual statement convention blank, along with such additional
			 filings as prescribed by the Commissioner for the preceding year. The
			 information filed with the NAIC shall be in the same format and scope as that
			 required to be filed with this department and shall include the signed jurat
			 page and the actuarial certification. Any amendments and addendums to the
			 annual statement filing subsequently filed with this department shall also be
			 filed with the NAIC.
(2) Foreign
			 insurers that are domiciled in a state which has a requirement substantially
			 similar to Paragraph (1) of this chapter shall be deemed in compliance with
			 this rule.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.05 - Confidentiality

Current through Register Vol. 42, No. 9, June 28, 2024
All financial analysis ratios and examination synopses
				concerning insurance companies that are submitted to the department by the
				NAIC's Insurance Regulatory Information System are confidential and may not be
				disclosed by this department.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.06 - Revocation Of Certificate Of Authority

Current through Register Vol. 42, No. 9, June 28, 2024
Failure to comply with a material provision of this or any
				chapter is considered a willful violation of a chapter which, pursuant to
				Section 27-2-17,
Code of Ala.
				1975
, shall be considered a willful violation of a material
				provision of the Insurance Code, which, pursuant to Section
				27-3-21, may subject the insurer
				to the suspension or revocation of the insurer's Certificate of
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-102 - PARTICIPATION IN THE NAIC INSURANCE REGULATORY INFORMATION SYSTEM (IRIS) › Section 482-1-102-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to generally set forth the
				guidelines for conducting financial examinations and the time requirements for
				filing of reports of examination.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.03 - Conduct Of Examinations

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Upon
			 determining that an examination report should be conducted, the commissioner
			 will issue an examination warrant appointing one or more examiners to perform
			 the examination and instructing them as to the scope of the
			 examination.
(2) In conducting the
			 examination, the examiner shall observe those guidelines and procedures set
			 forth in the Examiners' Handbook adopted by the National Association of
			 Insurance Commissioners.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.04 - Examination Reports

Current through Register Vol. 42, No. 9, June 28, 2024
(1) No later
			 than sixty (60) days following completion of the examination, the examiner in
			 charge shall file with the Chief Examiner a verified report of examination
			 under oath. Upon receipt of the verified report, the Chief Examiner shall
			 transmit a copy of the report to the person examined, together with a notice
			 which shall afford the examinee thirty (30) days to make a written submission
			 or rebuttal with respect to any matters contained in the examination report.
			 The written submission by the examinee shall specify any item or items to which
			 the examinee objects, including any affected page numbers of the report if
			 necessary.
(2) Within thirty (30)
			 days of the end of the period allowed for the receipt of written submissions or
			 rebuttals, the commissioner will fully consider and review the report, together
			 with any written submissions or rebuttals, and any relevant portions of the
			 examiners' work papers and will enter an order doing one of the following:
(a) Adopting the examination report as filed
			 or with modifications or corrections. If the examination report reveals that
			 the company is operating in violation of any law, regulation, or prior order of
			 the commissioner, the commissioner may order the company to take any action the
			 commissioner considers necessary and appropriate to cure the
			 violation.
(b) Rejecting the
			 examination report with directions to the examiners to reopen the examination
			 for purposes of obtaining additional data, documentation, or information, and
			 refiling pursuant to Paragraph (1) above.
(c) Calling for an investigatory hearing for
			 purposes of obtaining additional documentation, data, information, and
			 testimony
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.05 - Hearings, Procedures And Orders

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Any order calling for an investigatory
			 hearing in accordance with Rule
			 482-1-103-.04 shall provide the
			 examinee with no less than twenty (20) days' notice of the date of the hearing,
			 and shall include providing the examinee with a copy of the rules of procedure
			 to be followed at the hearing (Departmental Regulation 65).
(2) The Commissioner will enter an order in
			 accordance with Rule
			 482-1-103-.04(2)(a)
			 within twenty (20) days of the conclusion of the investigatory hearing.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-103 - CONDUCT OF EXAMINATIONS AND FILING OF REPORTS OF EXAMINATION › Section 482-1-103-.06 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-104 - CONFIDENTIAL TREATMENT OF INFORMATION (REPEALED) › Section 482-1-104-.01 - Purpose And Scope (REPEALED)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-2-24(c),
				  27-2-23.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-104 - CONFIDENTIAL TREATMENT OF INFORMATION (REPEALED) › Section 482-1-104-.02 - Authority (REPEALED)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-2-24(c),
				  27-2-23.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-104 - CONFIDENTIAL TREATMENT OF INFORMATION (REPEALED) › Section 482-1-104-.03 - Confidential Information (REPEALED)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-2-24(c),
				  27-2-23.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-104 - CONFIDENTIAL TREATMENT OF INFORMATION (REPEALED) › Section 482-1-104-.04 - Access To Confidential Information (REPEALED)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-2-24(c),
				  27-2-23.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-104 - CONFIDENTIAL TREATMENT OF INFORMATION (REPEALED) › Section 482-1-104-.05 - Effective Date (REPEALED)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-2-24(c),
				  27-2-23.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.01 - Authority (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.02 - Purpose (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.03 - Severability (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.04 - Credit For Reinsurance - Reinsurer Licensed In This State (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.06 - Credit For Reinsurance - Reinsurer Domiciled And Licensed In Another State (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.07 - Credit For Reinsurance - Reinsurers Maintaining Trust Funds (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.08 - Credit For Reinsurance Required By Law (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.09 - Asset Or Reduction From Liability For Reinsurance Ceded To AAn Unauthorized Assuming Insurer Not Meeting The Requirements Of Rules 482-1-105-.04 Through 482-1-105-.08 (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.10 - Trust Agreements Qualified Under Rule (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.11 - Letters Of Credit Qualified Under Rule (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.12 - Other Security (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.13 - Reinsurance Contract (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.14 - Contracts Affected (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of
				  Ala.1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Section 482-1-105-.15 - Effective Date (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-105 - CREDIT FOR REINSURANCE (REPEALED) › Appendix A - FORMS (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
, and Section 20 of Act No. 93-675 (Senate Bill 14, 1993
				Regular Legislative Session).
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17 & §20, Act
				  93-675.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter provides the procedures to be followed in the
				implementation and administration of the Alabama Managing General Agents Act,
				found at Sections
				27-6A-2 through
				27-6A-8,
Code of Ala.
				1975
, regarding who must file, when to file, what must be
				certified and filed annually, what to do in case of termination, and the
				applicable forms and fees.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17 & §20, Act
				  93-675.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.03 - Who Must File

Current through Register Vol. 42, No. 9, June 28, 2024
An insurer must file the documents required under Rule
				482-1-106-.04 for appointment of
				a managing general agent (MGA), if the insurer is either of the
				following:
(a) A foreign insurer
			 holding a certificate of authority to transact insurance business in this state
			 and has any person, firm, association or corporation who does either of the
			 following:
1. Produces, directly or
			 indirectly, and underwrites an amount of gross premium equal to or more than
			 five percent (5%) of the policyholder surplus as reported in any one (1)
			 quarter or year together with one (1) or both of the following:
(i) Adjusts or pays claims in excess of ten
			 thousand dollars ($10,000) per claim.
(ii) Negotiates reinsurance on behalf of the
			 insurer.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.04 - Filings Required Within 30 Days Of Appointment Of An MGA

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Any insurer who
			 is required under Rule
			 482-1-106-.03 to file for
			 appointment of a managing general agent (MGA) must complete and file all of the
			 following within thirty (30) days of that appointment:
(a) The appointment Form AL-MGA-1. This form
			 must list all information requested, including, but not limited to, the name
			 and Alabama insurance producer license number of the MGA. Attached to Form
			 AL-MGA-1 shall be both of the following exhibits, unless the insurer has
			 obtained an express waiver from the Commissioner:
1. A copy of a fidelity bond for the
			 protection of the insurer in the minimum amount of one hundred thousand dollars
			 ($100,000) with no deductible.
2. A
			 copy of the MGA's errors and omissions liability policy with coverage limits in
			 the minimum amount of one million dollars ($1,000,000) or 25% of the gross
			 amount of direct written premium received by an insurer for the previous
			 calendar year that is attributable to the MGA, whichever is greater.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.05 - What Must Be Certified And Filed Annually

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Each insurer which has appointed a
			 managing general agent (MGA) shall annually file, for each appointed managing
			 general agent, each of the following, as applicable:
(a) A completed certification on Form
			 AL-MGA-4, whereby the insurer will certify the existence or performance of the
			 continued obligations imposed by Section
			 27-6A-5,
Code of Ala.
			 1975
.
(b) A copy of
			 the report issued at the conclusion of the annual independent financial
			 examination of the MGA as of the end of the prior fiscal or calendar year. The
			 independent financial examination shall be an audit by a certified public
			 accountant, as required by Section
			 27-6A-5(1),
Code of Ala. 1975
, and should be filed even if the MGA
			 appointment is terminated prior to year-end or is allowed to expire at
			 year-end.
(c) If the MGA
			 establishes loss reserves, a copy of the most recent annual opinion of an
			 actuary attesting to the adequacy of loss reserves established for losses
			 incurred and outstanding on business produced by the MGA, as required by
			 Section 27-6A-5(2),
Code of Ala. 1975
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.06 - Termination Of Appointment

Current through Register Vol. 42, No. 9, June 28, 2024
Within thirty (30) days after the termination of appointment of
				a managing general agent (MGA), an insurer shall complete and file Form
				MGA-3.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17 & §20, Act
				  93-675.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.07 - Forms And Fees

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Forms. The
			 forms referred to in this chapter (AL-MGA-1, AL-MGA-2, AL-MGA-3 and AL-MGA-4)
			 are attached hereto as Exhibits 1, 2, 3 and 4, respectively, may be freely
			 copied or may be obtained from the Department of Insurance, Producer Licensing
			 Division.
(2) Fees. Documents filed
			 pursuant to this chapter shall be accompanied by the fees set forth in Section
			 27-4-2,
Code of Ala.
			 1975
, as follows:
(a) These fees
			 will be charged for the filing of the appointment form (AL-MGA-1): $155.00,
			 representing an application fee of $30.00 and a license (appointment) fee of
			 $125. An application will be returned without processing if not accompanied by
			 the fees as indicated above.
(b)
			 These fees will be charged for the filing of the certification form (AL-MGA-4):
			 $75.00, representing the annual continuation of license (appointment) fee of
			 $75.00. The certification will be returned without processing if not
			 accompanied by the fees as indicated above, which may result in the
			 cancellation of the license.
(c) No
			 fee is charged for the filing of the termination form (AL-MGA-3).
(d) All checks and money orders should be
			 made payable to "Commissioner of Insurance, State of Alabama."
Author:
Reyn Norman, Associate
				Counsel
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.08 - Retaliatory Provisions

Current through Register Vol. 42, No. 9, June 28, 2024
Pursuant to Section
				27-3-29,
Code of Ala.
				1975
, if an applicant's state of domicile imposes any taxes,
				licenses or other fees, in the aggregate, or deposit requirements or other
				material obligations, prohibitions or restrictions in excess of the licenses or
				other fees, in the aggregate, or other material obligations set forth in this
				state, the same taxes, licenses or other fees, deposit requirements and other
				material obligations, prohibitions and restrictions shall be imposed on the
				applicant.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17 & §20, Act
				  93-675.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Section 482-1-106-.09 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
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:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17 & §20, Act
				  93-675.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-106 - MANAGING GENERAL AGENTS › Appendix A - Forms

Current through Register Vol. 42, No. 9, June 28, 2024
APPLICATION FOR MANAGING GENERAL AGENT (MGA)
				APPOINTMENT
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				to view image
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FORM AL-MGA-2
MANAGING GENERAL AGENT'S
				CONTRACT
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				to view image
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FORM AL-MGA-3
MANAGING GENERAL AGENT (MGA)
				TERMINATION
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				to view image
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				to view image
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
, and Section
				27-5A-12,
Code of Ala.
				1975
(Section 12 of Act No. 93-673, S.12, 1993 Regular
				Session).
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5A-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter provides the procedures to be followed in the
				implementation and administration of the Alabama Reinsurance Intermediary Act,
				found at Sections
				27-5A-1 through
				27-5A-13,
Code of Ala.
				1975
(Act No. 93-673, S.12, 1993 Regular Session), regarding who
				must file, when to file, what must be filed annually, and the applicable forms
				and fees.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5A-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.03 - Who Must File

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The
			 following must be licensed in this state as a reinsurance intermediary:
(a) Any person, firm, association or
			 corporation acting as a reinsurance intermediary broker (RB) in this state, if
			 the RB maintains an office (either directly or as a member or employee of a
			 firm or association, or an officer, director or employee of a corporation):
1. In this state, unless the RB is licensed
			 and appointed as an insurance producer of the reinsurer in this state or is a
			 licensed insurance broker in this state.
2. In another state, unless the RB is
			 licensed and appointed as an insurance producer of the reinsurer in this state,
			 or is a licensed insurance broker in this state, or is a licensed insurance
			 producer, broker or reinsurance intermediary in another state having a law
			 substantially similar to the Alabama Reinsurance Intermediary Act.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.04 - Filings Required For Reinsurance Intermediary License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) In order to obtain a license as a
			 reinsurance intermediary, one must complete and file an application Form
			 AL-RI-1. This form must list all information requested, including, but not
			 limited to, the name, address and telephone number of each individual who will
			 be acting on behalf of the reinsurance intermediary under the license. Attached
			 to Form AL-RI-1 shall be the following exhibits, if applicable:
(a) If an application for license as a RM, a
			 copy of a fidelity bond from an insurer acceptable to the Commissioner for the
			 protection of each reinsurer represented in the minimum amount of one hundred
			 thousand dollars ($100,000) with no deductible and which must have a discovery
			 period of at least one (1) year.
(b) A copy of the RM's errors and omissions
			 liability policy from a company acceptable to the Commissioner, with coverage
			 limits in the minimum amount of one million dollars ($1,000,000).
(c) A nonresident applying for a license as a
			 reinsurance intermediary must appoint the Alabama Commissioner of Insurance as
			 the licensee's agent for service of process, which is included on the Form
			 AL-RI-1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.05 - Forms And Fees

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Forms. The
			 form referred to in this chapter (AL-RI-1) is attached hereto as Exhibit 1, may
			 be freely copied or may be obtained from the Department of Insurance, Producer
			 Licensing Division.
(2) Fees. An
			 application filed pursuant to this chapter shall be accompanied by the fees set
			 forth in Section
			 27-4-2(a)(6),
			 Code of Alabama 1975, as follows:
(a) These
			 fees will be charged for the initial filing of the Application Form (AL-RI-1):
			 A check or money order in the amount of $170.00, representing an application
			 fee of $20.00, a license fee of $50.00, and an examiner's fee of $100.00. An
			 application will be returned without processing if not accompanied by the fees
			 as indicated above.
(b) These fees
			 will be charged for the renewal filing of the Application Form (AL-RI-1): A
			 check or money order in the amount of $100.00, representing the annual
			 continuation of license fee of $50.00 and an examiner's fee of $50.00. The
			 certification will be returned without processing if not accompanied by the
			 fees as indicated above.
Author:
Commissioner of Insurance
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.06 - Retaliatory Provisions

Current through Register Vol. 42, No. 9, June 28, 2024
Pursuant to Section
				27-3-29,
Code of Ala.
				1975
, if an applicant's state of domicile imposes any taxes,
				licenses or other fees, in the aggregate, or deposit requirements or other
				material obligations, prohibitions or restrictions in excess of the licenses or
				other fees, in the aggregate, or other material obligations set forth in this
				chapter, the same taxes, licenses or other fees, deposit requirements and other
				material obligations, prohibitions and restrictions shall be imposed on the
				applicant.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5A-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-107 - REINSURANCE INTERMEDIARIES › Section 482-1-107-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5A-12.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-109 - CONTINUATION OF APPOINTMENTS FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-109-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is adopted pursuant to the authority set forth in
				Sections 27-2-17,
				27-7-30, and
				27-7-43,
Code of Ala.
				1975
.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-109 - CONTINUATION OF APPOINTMENTS FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-109-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to present the procedure
				necessary for the effectuation of the provisions of the Insurance Code relating
				to the continuation of the appointment of insurance producers and service
				representatives.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-109 - CONTINUATION OF APPOINTMENTS FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-109-.03 - Applicability And Scope

Current through Register Vol. 42, No. 9, June 28, 2024
(1) This
			 chapter applies to all insurers appointing producers and service
			 representatives pursuant to Chapter 7 of the Alabama Insurance Code.
(2) For purposes of this chapter, "insurers"
			 shall have the same meaning as set forth in Section
			 27-7-1(6),
Code of Ala. 1975
.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-109 - CONTINUATION OF APPOINTMENTS FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-109-.04 - Designation Of Contact Person

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 The Department will develop and maintain a list of contacts with insurers
			 representing a person for each insurer designated by the insurer to be
			 responsible for the continuation of appointments for producers and service
			 representatives.
(2) All insurers
			 will provide the following information to the Department regarding this
			 designated person: Insurer name, designated person's name and title, mailing
			 address, telephone number, facsimile number, and E-mail address.
(3) Insurers shall provide notice of any
			 change in the requested information within ten (10) days of such a
			 change.
(4) The Department will
			 send all correspondence to insurers required by this chapter to the insurer's
			 designated contact person. The preferred means of corresponding shall be via
			 E-mail. If E-mail is not available, the next preferred means of corresponding
			 shall be via facsimile. If E-mail and facsimile are not available,
			 correspondence shall be via U.S. Mail.
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-109 - CONTINUATION OF APPOINTMENTS FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-109-.06 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
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:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-30,
				  27-7-43.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-110 - RENEWAL OF LICENSE AND CONTINUING EDUCATION FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-110-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is adopted pursuant to
Code of Ala.
1975, §§
								27-2-17,
				27-2-17.1,
				27-7-43, and
				27-8A-1, et seq.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-43,
				  27-8A-1,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-110 - RENEWAL OF LICENSE AND CONTINUING EDUCATION FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-110-.02 - Purposes

Current through Register Vol. 42, No. 9, June 28, 2024
The purposes of this chapter are as follows:
(a) To set forth the procedures for the
			 renewal of licenses of producers and service representatives, hereinafter
			 sometimes referred to generally as "insurance representatives" or "licensees",
			 as is required by Subsection (c) of
Code of Ala. 1975
,
			 §
								27-7-14.
(b) To implement the continuing education
			 requirements for producers and service representatives set forth in
Code of Ala. 1975
, §§
								27-8A-1 through
			 27-8A-13.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-7-43,
				  27-8A-1,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-110 - RENEWAL OF LICENSE AND CONTINUING EDUCATION FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-110-.03 - Scope

Current through Register Vol. 42, No. 9, June 28, 2024
(1) As to the
			 renewal of licenses, this chapter shall apply to every person licensed in this
			 state as a producer or service representative for any line of
			 authority.
(2) In order to qualify
			 for the renewal of their licenses, producers and service representatives
			 licensed for the following lines of authority must comply with the educational
			 requirements set forth in Rule
			 482-1-110-.05:
(a) The life lines of authority, as defined
			 in
Code of Ala. 1975
, §
									27-7-1.
(b) The property lines of authority, as
			 defined in
Code of Ala. 1975
, §
									27-7-1.
(c) Bail Bonds.
(d) Any combination thereof.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-110 - RENEWAL OF LICENSE AND CONTINUING EDUCATION FOR PRODUCERS AND SERVICE REPRESENTATIVES › Section 482-1-110-.04 - Renewal Of Licenses

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All
			 producers and service representatives licensed in the State of Alabama are
			 required to complete an application for license renewal with the Department,
			 which shall include the payment of the applicable fees, as set forth below:
(a) For individual producers and service
			 representatives, the biennial license renewal fee as required by
Code of Ala. 1975
, §
									27-8A-9(a)
			 (1)........................ $ 70.00
(b) For business entity producers, the
			 biennial renewal license fee as required by
Code of Ala.
			 1975
, §
									27-4-2(a) (5)
			 b.2................................... $100.00