reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-075 - SMOKER - NON-SMOKER MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 482-1-075-.05 - Conditions

Current through Register Vol. 42, No. 9, June 28, 2024
For each plan of insurance with separate rates for smokers and
				nonsmokers an insurer may
(a) use
			 composite mortality tables to determine minimum reserve liabilities and minimum
			 cash surrender values and amounts of paid-up nonforfeiture benefits,
(b) use smoker and nonsmoker mortality tables
			 to determine the valuation net premiums and additional minimum reserves, if
			 any, required by Section
			 27-36A-12 and use composite
			 mortality tables to determine the basic minimum reserves, minimum cash
			 surrender values and amounts of paid-up nonforfeiture benefits, or
(c) use smoker and nonsmoker mortality to
			 determine minimum reserve liabilities and minimum cash surrender values and
			 amounts of paid-up nonforfeiture benefits.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-15-70 to
				  27-15-83.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-075 - SMOKER - NON-SMOKER MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 482-1-075-.06 - Separability

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 for any reason held to be invalid, the remainder
				of the chapter and the application of such provision to other persons or
				circumstances shall not be affected thereby.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-15-70 to
				  27-15-83.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-075 - SMOKER - NON-SMOKER MORTALITY TABLES FOR USE IN DETERMINING MINIMUM RESERVE LIABILITIES AND NONFORFEITURE BENEFITS › Section 482-1-075-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
The effective date of this chapter is November 15,
				1985.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-15-70 to
				  27-15-83.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This Chapter is promulgated by the Commissioner of Insurance
				pursuant to Sections
				27-2-17 and
				27-36A-1 to
				27-36A-20,
Code of
				Ala. 1975
.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this Chapter is to recognize the following
				mortality tables for use in determining the minimum standard of valuation for
				annuity and pure endowment contracts: the 1983 Table "a," the 1983 Group
				Annuity Mortality (1983 GAM) Table, the Annuity 2000 Mortality Table, the 2012
				Individual Annuity Reserving (2012 IAR) Table, and the 1994 Group Annuity
				Reserving (1994 GAR) Table.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.03 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions shall apply for purposes of this
				Chapter:
(a) 1983 Table "a". That
			 mortality table developed by the Society of Actuaries Committee to Recommend a
			 New Mortality Basis for Individual Annuity Valuation and adopted as a
			 recognized mortality table for annuities in June 1982, by the National
			 Association of Insurance Commissioners. [See 1982 Proceedings of the NAIC II,
			 page 454.]
(b) 1983 GAM Table. That
			 mortality table developed by the Society of Actuaries Committee on Annuities
			 and adopted as a recognized mortality table for annuities in December 1983, by
			 the National Association of Insurance Commissioners. [See 1984 Proceedings of
			 the NAIC I, pages 414 to 415.]
(c)
			 1994 GAR Table. That mortality table developed by the Society of Actuaries
			 Group Annuity Valuation Table Task Force. The 1994 GAR Table is included in the
			 report on pages 865-919 of Volume XLVII of the
Transactions of the
			 Society of Actuaries
(1995).
(d) Annuity 2000 Mortality Table. That
			 mortality table developed by the Society of Actuaries Committee on Life
			 Insurance Research. The Annuity 2000 Mortality Table is included in the report
			 on pages 211-249 of Volume XLVII of the
Transactions of the Society of
			 Actuaries
(1995).
(e)
			 Period table. A table of mortality rates applicable to a given calendar year
			 (the Period).
(f) Generational
			 Mortality Table. A mortality table containing a set of mortality rates that
			 decrease for a given age from one year to the next based on a combination of a
			 Period table and a projection scale containing rates of mortality
			 improvement.
(g) 2012 IAR Table.
			 That Generational mortality table developed by the Society of Actuaries
			 Committee on Life Insurance Research and containing rates,
			 qx2012+n, derived from a
			 combination of the 2012 IAM Period Table and Projection Scale G2, using the
			 methodology stated in Rule
			 482-1-076-.07.
(h) 2012 Individual Annuity Mortality Period
			 Life (2012 IAM Period) Table. The Period table containing loaded mortality
			 rates for calendar year 2012. This table contains rates,
			 qx2012, developed by the
			 Society of Actuaries Committee on x Life Insurance Research and is shown in
			 Appendices 1-2.
(i) Projection
			 Scale G2 (Scale G2). A table of annual rates, G2x, of
			 mortality improvement by age for projecting future mortality rates beyond
			 calendar year 2012. This table was developed by the Society of Actuaries
			 Committee on Life Insurance Research and is shown in Appendices 3-4.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-12-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.04 - Individual Annuity Or Pure Endowment Contracts

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Except as provided in Paragraphs (2) and
			 (3) of this Rule, the 1983 Table "a" is recognized and approved as an
			 individual annuity mortality table for valuation and, at the option of the
			 company, may be used for purposes of determining the minimum standard of
			 valuation for any individual annuity or pure endowment contract issued on or
			 after July 30, 1979.
(2) Except as
			 provided in Paragraph (3) of this Rule, either the 1983 Table "a" or the
			 Annuity 2000 Mortality Table shall be used for determining the minimum standard
			 of valuation for any individual annuity or pure endowment contract issued on or
			 after January 1, 1987.
(3) Except
			 as provided in Paragraph (4) of this Rule, the Annuity 2000 Mortality Table
			 shall be used for determining the minimum standard of valuation for any
			 individual annuity or pure endowment contract issued on or after January 1,
			 1999.
(4) Except as provided in
			 paragraph (5) of this rule, the 2012 IAR Mortality Table shall be used for
			 determining the minimum standard of valuation for any individual annuity or
			 pure endowment contract issued on or after (the effective date of this amended
			 regulation).
(5) The 1983 Table "a"
			 without projection is to be used for determining the minimum standards of
			 valuation for an individual annuity or pure endowment contract issued on or
			 after January 1, 1999, solely when the contract is based on life contingencies
			 and is issued to fund periodic benefits arising from any of the following:
(a) Settlements of various forms of claims
			 pertaining to court settlements or out of court settlements from tort
			 actions.
(b) Settlements involving
			 similar actions such as worker's compensation claims.
(c) Settlements of long term disability
			 claims where a temporary or life annuity has been used in lieu of continuing
			 disability payments.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.05 - Group Annuity Or Pure Endowment Contracts

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Except as provided in Paragraphs (2) and
			 (3) of this Rule, the 1983 GAM Table, the 1983 Table "a" and the 1994 GAR Table
			 are recognized and approved as group annuity mortality tables for valuation
			 and, at the option of the company, any one of these tables may be used for
			 purposes of valuation for any annuity or pure endowment purchased on or after
			 July 30, 1979, under a group annuity or pure endowment contract.
(2) Except as provided in Paragraph (3) of
			 this Rule, either the 1983 GAM Table or the 1994 GAR Table shall be used for
			 determining the minimum standard of valuation for any annuity or pure endowment
			 purchased on or after January 1, 1987, under a group annuity or pure endowment
			 contract.
(3) The 1994 GAR Table
			 shall be used for determining the minimum standard of valuation for any annuity
			 or pure endowment purchased on or after January 1, 1999, under a group annuity
			 or pure endowment contract.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.06 - Application Of The 1994 GAR Table

Current through Register Vol. 42, No. 9, June 28, 2024
In using the 1994 GAR Table, the mortality rate for a person
				age x in year (1994 + n) is calculated as follows:
Click to
				view image
where the
q
x1994s and
AA
xs are as specified in the 1994 GAR
				Table.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.07 - Application Of The 2012 IAR Mortality Table

Current through Register Vol. 42, No. 9, June 28, 2024
(1) In using the 2012 IAR Mortality Table,
			 the mortality rate for a person age x in year (2012 + n) is calculated as
			 follows:
Click to
				view image
(2)
			 The resulting
q
x2012+n
			 shall be rounded to three decimal places per 1,000, e.g., 0.741 deaths per
			 1,000. Also, the rounding shall occur according to the formula above, starting
			 at the 2012 period table rate.
(3)
			 For example, for a male age 30,
q
x2012 =
			 0.741.
q
x2013
				= 0.741 * (1 - 0.010) ^ 1 = 0.73359, which is rounded to 0.734.
q
x2014 =
				0.741 * (1 - 0.010) ^ 2 = 0.7262541, which is rounded to 0.726.
(4) A method leading to incorrect
			 rounding would be to calculate
q
x2014 as
q
x2013 * (1
			 - 0.010), or 0.734 * 0.99 = 0.727. It is incorrect to use the already rounded
q
x2013 to
			 xcalculate
q
x2014.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.08 - Separability

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this Chapter or the application thereof to
				any person or circumstances is for any reason held to be invalid, the remainder
				of the Chapter and the application of such provision to other persons or
				circumstances shall not be affected thereby.
Rule .07 was renumbered .08 as per certification filed August
				  6, 2014, effective January 1, 2015.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Section 482-1-076-.09 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
The provisions of this Chapter shall become effective January
				1, 2015, 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.
Rule .08 was renumbered .09 as per certification filed August
				  6, 2014, effective January 1, 2015.
Author:
Reyn Norman, Associate Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Appendix I - 2012 IAM Period Table, Female

Current through Register Vol. 42, No. 9, June 28, 2024
2012 IAM Period Table Female, Age Nearest
				Birthday
AGE
1000
qx
2012
AGE
1000
qx
2012
AGE
1000
qx
2012
AGE
1000
qx
2012
0
1.621
30
0.300
60
3.460
90
88.377
1
0.405
31
0.321
61
3.916
91
97.491
2
0.259
32
0.338
62
4.409
92
107.269
3
0.179
33
0.351
63
4.933
93
118.201
4
0.137
34
0.365
64
5.507
94
130.969
5
0.125
35
0.381
65
6.146
95
146.449
6
0.117
36
0.402
66
6.551
96
163.908
7
0.110
37
0.429
67
7.039
97
179.695
8
0.095
38
0.463
68
7.628
98
196.151
9
0.088
39
0.504
69
8.311
99
213.150
10
0.085
40
0.552
70
9.074
100
230.722
11
0.086
41
0.600
71
9.910
101
251.505
12
0.094
42
0.650
72
10.827
102
273.007
13
0.108
43
0.697
73
11.839
103
295.086
14
0.131
44
0.740
74
12.974
104
317.591
15
0.156
45
0.780
75
14.282
105
340.362
16
0.179
46
0.825
76
15.799
106
362.371
17
0.198
47
0.885
77
17.550
107
384.113
18
0.211
48
0.964
78
19.582
108
400.000
19
0.221
49
1.051
79
21.970
109
400.000
20
0.228
50
1.161
80
24.821
110
400.000
21
0.234
51
1.308
81
28.351
111
400.000
22
0.240
52
1.460
82
32.509
112
400.000
23
0.245
53
1.613
83
37.329
113
400.000
24
0.247
54
1.774
84
42.830
114
400.000
25
0.250
55
1.950
85
48.997
115
400.000
26
0.256
56
2.154
86
55.774
116
400.000
27
0.261
57
2.399
87
63.140
117
400.000
28
0.270
58
2.700
88
71.066
118
400.000
29
0.281
59
3.054
89
79.502
119
400.000
120
1000.000
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Appendix II - 2012 IAM Period Table, Male

Current through Register Vol. 42, No. 9, June 28, 2024
2012 IAM Period Table Male, Age Nearest
				Birthday
AGE
1000
qx
2012
AGE
1000
qx
2012
AGE
1000
qx
2012
AGE
1000
qx
2012
0
1.605
30
0.741
60
5.096
90
109.993
1
0.401
31
0.751
61
5.614
91
123.119
2
0.275
32
0.754
62
6.169
92
137.168
3
0.229
33
0.756
63
6.759
93
152.171
4
0.174
34
0.756
64
7.398
94
168.194
5
0.168
35
0.756
65
8.106
95
185.260
6
0.165
36
0.756
66
8.548
96
197.322
7
0.159
37
0.756
67
9.076
97
214.751
8
0.143
38
0.756
68
9.708
98
232.507
9
0.129
39
0.800
69
10.463
99
250.397
10
0.113
40
0.859
70
11.357
100
268.607
11
0.111
41
0.926
71
12.418
101
290.016
12
0.132
42
0.999
72
13.675
102
311.849
13
0.169
43
1.069
73
15.150
103
333.962
14
0.213
44
1.142
74
16.860
104
356.207
15
0.254
45
1.219
75
18.815
105
380.000
16
0.293
46
1.318
76
21.031
106
400.000
17
0.328
47
1.454
77
23.540
107
400.000
18
0.359
48
1.627
78
26.375
108
400.000
19
0.387
49
1.829
79
29.572
109
400.000
20
0.414
50
2.057
80
33.234
110
400.000
21
0.443
51
2.302
81
37.533
111
400.000
22
0.473
52
2.545
82
42.261
112
400.000
23
0.513
53
2.779
83
47.441
113
400.000
24
0.554
54
3.011
84
53.233
114
400.000
25
0.602
55
3.254
85
59.855
115
400.000
26
0.655
56
3.529
86
67.514
116
400.000
27
0.688
57
3.845
87
76.340
117
400.000
28
0.710
58
4.213
88
86.388
118
400.000
29
0.727
59
4.631
89
97.634
119
400.000
120
1000.000
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Appendix III - Projection Scale G2, Female

Current through Register Vol. 42, No. 9, June 28, 2024
Projection Scale G2 Female, Age Nearest
				Birthday
Age
G2x
Age
G2x
Age
G2x
Age
G2x
0
0.010
30
0.010
60
0.013
90
0.006
1
0.010
31
0.010
61
0.013
91
0.006
2
0.010
32
0.010
62
0.013
92
0.005
3
0.010
33
0.010
63
0.013
93
0.005
4
0.010
34
0.010
64
0.013
94
0.004
5
0.010
35
0.010
65
0.013
95
0.004
6
0.010
36
0.010
66
0.013
96
0.004
7
0.010
37
0.010
67
0.013
97
0.003
8
0.010
38
0.010
68
0.013
98
0.003
9
0.010
39
0.010
69
0.013
99
0.002
10
0.010
40
0.010
70
0.013
100
0.002
11
0.010
41
0.010
71
0.013
101
0.002
12
0.010
42
0.010
72
0.013
102
0.001
13
0.010
43
0.010
73
0.013
103
0.001
14
0.010
44
0.010
74
0.013
104
0.000
15
0.010
45
0.010
75
0.013
105
0.000
16
0.010
46
0.010
76
0.013
106
0.000
17
0.010
47
0.010
77
0.013
107
0.000
18
0.010
48
0.010
78
0.013
108
0.000
19
0.010
49
0.010
79
0.013
109
0.000
20
0.010
50
0.010
80
0.013
110
0.000
21
0.010
51
0.010
81
0.012
111
0.000
22
0.010
52
0.011
82
0.012
112
0.000
23
0.010
53
0.011
83
0.011
113
0.000
24
0.010
54
0.011
84
0.010
114
0.000
25
0.010
55
0.012
85
0.010
115
0.000
26
0.010
56
0.012
86
0.009
116
0.000
27
0.010
57
0.012
87
0.008
117
0.000
28
0.010
58
0.012
88
0.007
118
0.000
29
0.010
59
0.013
89
0.007
119
0.000
120
0.000
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-076 - ALABAMA PROCEDURES FOR RECOGNIZING A NEW ANNUITY MORTALITY TABLE FOR USE IN DETERMINING RESERVE LIABILITIES FOR ANNUITIES › Appendix IV - Projection Scale G2, Male

Current through Register Vol. 42, No. 9, June 28, 2024
Projection Scale G2 Male, Age Nearest
				Birthday
Age
G2x
Age
G2x
Age
G2x
Age
G2x
0
0.010
30
0.010
60
0.015
90
0.007
1
0.010
31
0.010
61
0.015
91
0.007
2
0.010
32
0.010
62
0.015
92
0.006
3
0.010
33
0.010
63
0.015
93
0.005
4
0.010
34
0.010
64
0.015
94
0.005
5
0.010
35
0.010
65
0.015
95
0.004
6
0.010
36
0.010
66
0.015
96
0.004
7
0.010
37
0.010
67
0.015
97
0.003
8
0.010
38
0.010
68
0.015
98
0.003
9
0.010
39
0.010
69
0.015
99
0.002
10
0.010
40
0.010
70
0.015
100
0.002
11
0.010
41
0.010
71
0.015
101
0.002
12
0.010
42
0.010
72
0.015
102
0.001
13
0.010
43
0.010
73
0.015
103
0.001
14
0.010
44
0.010
74
0.015
104
0.000
15
0.010
45
0.010
75
0.015
105
0.000
16
0.010
46
0.010
76
0.015
106
0.000
17
0.010
47
0.010
77
0.015
107
0.000
18
0.010
48
0.010
78
0.015
108
0.000
19
0.010
49
0.010
79
0.015
109
0.000
20
0.010
50
0.010
80
0.015
110
0.000
21
0.010
51
0.011
81
0.014
111
0.000
22
0.010
52
0.011
82
0.013
112
0.000
23
0.010
53
0.012
83
0.013
113
0.000
24
0.010
54
0.012
84
0.012
114
0.000
25
0.010
55
0.013
85
0.011
115
0.000
26
0.010
56
0.013
86
0.010
116
0.000
27
0.010
57
0.014
87
0.009
117
0.000
28
0.010
58
0.014
88
0.009
118
0.000
29
0.010
59
0.015
89
0.008
119
0.000
120
0.000
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17 and
				  27-36A-1 to
				  27-36A-20.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Section 482-1-077-.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 and
				27-37-1.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17;
				  27-37-1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Section 482-1-077-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to define the use of clearing
				corporations and custodians by domestic insurance companies and set out
				requirements of custody agreements.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Section 482-1-077-.05 - Deposit With Affiliates; Requirements

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Nothing in this chapter shall prevent an
			 insurance company from depositing securities with another insurance company
			 with which the depositing insurance company is affiliated, provided that the
			 securities are deposited pursuant to a written agreement authorized by the
			 board of directors of the depositing insurance company or an authorized
			 committee thereof and that the receiving insurance company is organized under
			 the laws of one of the states of the United States of America or of the
			 District of Columbia. If the respective states of domicile of the depositing
			 and receiving insurance companies are not the same, the depositing insurance
			 company shall have given notice of the deposit to the insurance commissioner in
			 the state of its domicile and the insurance commissioner shall not have
			 objected to it within thirty (30) days of the receipt of the notice.
(2) The terms of the agreement shall comply
			 with the following:
(a) The insurance company
			 receiving the deposit shall maintain records adequate to identify and verify
			 the securities belonging to the depositing insurance company.
(b) The receiving insurance company shall
			 allow representatives of an appropriate regulatory body to examine records
			 relating to securities held subject to the agreement.
(c) The depositing insurance company may
			 authorize the receiving insurance company as follows:
1. To hold the securities of the depositing
			 insurance company in bulk, in certificates issued in the name of the receiving
			 insurance company or its nominee, and to commingle them with securities owned
			 by other affiliates of the receiving insurance company.
2. To provide for the securities to be held
			 by a custodian, including the custodian of securities of the receiving
			 insurance company or in a clearing corporation.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Section 482-1-077-.06 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
If any portion of this chapter or its applicability to any
				person or circumstance is held invalid by a court, the remainder of the chapter
				or the applicability of the provision to other persons or circumstances shall
				not be affected.
Rule .05 was renumbered .06 per certification published July
				  7, 2022; effective July 17, 22.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Section 482-1-077-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall be 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.
Rule .06 was renumbered .07 per certification published July
				  29, 2022; effective July 17, 22.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Form A - Custodian Affidavit

Current through Register Vol. 42, No. 9, June 28, 2024
Click
				to view image
Click
				to view image
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-37-1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Form B - Custodian Affidavit

Current through Register Vol. 42, No. 9, June 28, 2024
Click
				to view image
Click
				to view image
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-37-1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-077 - CUSTODIAL AGREEMENTS AND USE OF CLEARING CORPORATIONS BY DOMESTIC INSURANCE COMPANIES › Form C - Custodian Affidavit

Current through Register Vol. 42, No. 9, June 28, 2024
Click
				to view image
Click
				to view image
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-37-1.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
The chapter is made and promulgated by the undersigned
				Commissioner of Insurance pursuant to the authority set forth in Section
				27-2-17, et al.,
Code
				of Ala. 1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to provide for the insurer to be
				the named payee on checks written for premiums and annuity considerations; to
				prohibit an agent or agency from being named as the payee; and to require
				agents to provide receipts for premium and annuity consideration checks they
				collect with applications.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.03 - Scope Of Regulation

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall be applicable to individual policies of
				life, accident and health insurance and annuities when the premium payment or
				annuity consideration is made through an agent. Nothing herein shall apply to
				policies on which premium payments are paid through direct response sales,
				financial institutions (a bank holding company, a bank or a subsidiary or
				employee thereof, situated and doing business in Alabama, where such bank or
				bank holding company is subject to regulation by the Board of Governors of the
				Federal Reserve System, Office of the Comptroller of the Currency of the United
				States, Federal Deposit Insurance Corporation, or the State Banking Department
				of the State of Alabama), mortgage bankers, savings and loan associations,
				savings banks, finance companies or credit unions and employment
				deductions.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.04 - Named Payee On Premium Checks

Current through Register Vol. 42, No. 9, June 28, 2024
All premium checks and annuity considerations shall be made
				payable to the insurance company or annuity company writing such policy of
				insurance or annuity. In no instance is an agent allowed to receive a premium
				or annuity consideration check made payable to any person other than the
				insurer.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.05 - Receipts

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Authorized
			 receipts from the insurance company or its agents writing such policy of
			 insurance or annuity contract shall be given to the applicant, policyholder, or
			 annuitant at the time of receipt of the premium check or annuity
			 consideration.
(2) Such receipt
			 shall be on the insurance company's printed form on file with and approved by
			 the Commissioner of Insurance, and must clearly show the name and address of
			 the company, the date, name of agent, total premium or annuity consideration
			 collected at the time of the giving of such receipt and the type of policy to
			 be issued in consideration of such premium or annuity consideration.
			 Furthermore, the following statement shall be incorporated into the face of
			 said receipt, in bold type: "ALL PREMIUM CHECKS OR ANNUITY CONSIDERATIONS MUST
			 BE MADE PAYABLE TO THE INSURANCE COMPANY -DO NOT MAKE CHECK PAYABLE TO THE
			 AGENT OR LEAVE THE PAYEE BLANK."
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.06 - Separability

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 for any reason held to be invalid the remainder
				of the chapter and the application of such provision to other persons or
				circumstances shall not be affected thereby.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-078 - NAMED PAYEE ON CHECKS WRITTEN FOR PREMIUMS AND RECEIPTS THEREFOR › Section 482-1-078-.07 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall be effective on February 14,
				1987.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17, et
				  al.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.01 - Scope And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
The following chapters shall govern the issuance of
				Certificates of Authority and operation of health maintenance organizations
				pursuant to the authority set forth in Section
				27-2-17 and Section
				27-21A-19
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All terms
			 defined in the Health Maintenance Organization Act which are used in these
			 rules shall have the same meaning as in the Act.
(2) HMO. Health maintenance organizations
			 shall be abbreviated as HMO in these rules.
(3) Governing Authority. The entity, whether
			 natural, corporate or otherwise, in which the ultimate responsibility and
			 authority for the conduct of the HMO is vested.
(4) Assets and Liabilities. Assets include
			 but are not limited to cash, bank deposits, securities, accounts receivable,
			 and real estate. Liabilities include notes, mortgages, accounts payable,
			 reserve for taxes, commissions and other charges, borrowed money, debt
			 instruments, reserve for claims, salaries and expenses, and all debts and
			 contingent obligations of any nature whatsoever.
(5) Actuarially Sound. The ability of the
			 proposed HMO to deliver all the services to be furnished by the HMO at the rate
			 structure established. This will be determined by the Commissioner based on the
			 HMO's profitability or actuarial study under which the rates are established.
			 Consideration will be given to the character and amount of guaranteed service
			 by the organizers, the method of marketing, and the degree of market
			 penetration that can reasonably be expected.
(6) Excessive, Inadequate or Unfairly
			 Discriminatory. A rate shall be deemed to be excessive if such rate is
			 unreasonably high for the services provided when compared with the cost for
			 similar health care services in the community. A rate shall be deemed to be
			 inadequate if the rate is unreasonably low for the services provided, if the
			 continued use of the rate endangers the solvency of the HMO using it, or if
			 continued use by the HMO has or will have the effect of creating unfair
			 competition and a monopoly. However, no rate will be deemed inadequate or
			 excessive if the HMO can show that the rate accurately reflects the real cost
			 of providing the health care services. This provision is designed to promote
			 efficient and effective operation of HMOs. A rate shall be deemed to be
			 unfairly discriminatory if it is a higher or lower rate than that charged to
			 any other person of the same class or group based upon age, sex or physical
			 condition.
(7) Premium. The fixed
			 sum paid by or on behalf of an enrollee or group of enrollees on a prepaid per
			 capital or prepaid aggregate basis for the services rendered by the
			 HMO.
(8) Management contractor. Any
			 person other than the management staff entering into an agreement with the
			 governing authority of a HMO for the purpose of managing day-to-day operations
			 of the HMO.
(9) Commissioner. Where
			 used in this chapter shall mean the Commissioner of Insurance.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.03 - Application

Current through Register Vol. 42, No. 9, June 28, 2024
(1) An application,
			 on forms provided by the Commissioner, accompanied by the greater of a filing
			 fee of Fifty Dollars and a Commissioner's seal fee of Five Dollars (totaling
			 $55.00) or the amount levied by the state of domicile, payable to the
			 Commissioner, shall be completed by the responsible persons in each entity
			 desiring to obtain a certificate of authority as a HMO. The application with a
			 copy in duplicate shall be attested and notarized and be accompanied by
			 biographical affidavits of the principal officers and directors, financial
			 statements on the National Association of Insurance Commissioners HMO
			 "convention" blank, and other supporting documents required by the application
			 form and guidelines. Applicants shall address correspondence to the Examination
			 Division, Alabama Department of Insurance, Montgomery, Alabama 36130. A copy of
			 the application and supporting documents shall be filed with the Department of
			 Public Health, Bureau of Licensure and Certification, Montgomery, Alabama
			 36130.
(2) Any material change in
			 the plan of operations or any other section set out in the information filed
			 with the application for admission shall be filed with the Commissioner and the
			 State Health Officer prior to modification.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.04 - Enrollee Contracts

Current through Register Vol. 42, No. 9, June 28, 2024
Enrollee contracts mean the certificate or contract provided to
				the enrollee which describes the health care services provided and the amount
				to be charged. Individual or family contracts must contain the entire agreement
				between the HMO and the enrollees, including but not limited to: date of
				contract; rate to be charged; mode of payment (monthly, quarterly, etc. with
				provision for change of mode); grace period for late payment; co-payment
				features, if any; renewal conditions; services to be furnished; names and
				addresses of clinics or other facilities at which services are available (which
				may be listed in a separate addendum that is updated at least every six
				months); factors pertaining to pre-existing conditions; limitations; exclusions
				and exceptions, such as waiting periods, specific conditions not covered and
				limitations on length of stay and all other qualifying or limiting features;
				provisions pertaining to amount and kind of reimbursement made if illness or
				accident happens outside of geographic area and explanation of this coverage;
				provisions for adding new family members; and any other factor necessary for
				complete understanding of the coverages and exclusions of the contract.
Group master contracts must contain complete information as
				above, but a certificate may be issued to the individual enrollee who is a
				member of the group showing the salient features of the plan along with a
				descriptive pamphlet or brochure to fully explain the coverage if it is first
				filed with the Commissioner. However, the group master contract shall be
				available for review by any enrollee or member during regular business hours in
				the Alabama office of the HMO.
Provisions relating to grievances must be included in all
				contracts or certificates.
All contracts must be clear and legible. All limitations,
				exclusions and exceptions (except co-payment provisions) must be grouped
				together in separate sections with captions in bold-face type and shall be
				printed with at least the same prominence as provisions which describe the
				benefits.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.05 - Rates

Current through Register Vol. 42, No. 9, June 28, 2024
Rates must not be excessive, inadequate or unfairly
				discriminatory. Rates may not be changed without prior approval of the
				Commissioner and without thirty (30) days notice of the proposed change given
				to enrollees. It is therefore recommended that the proposed rate be filed as
				far in advance as possible to prevent unnecessary expense in the event of a
				rate disapproval. If the Commissioner does not disapprove the rates (schedule
				of charges) within thirty (30) days of their filing, they shall be deemed
				approved.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.06 - Advertising

Current through Register Vol. 42, No. 9, June 28, 2024
Advertising includes printed and published material,
				descriptive literature and sales aids, sales talks and sales materials,
				booklets, forms and pamphlets, illustrations, depictions and form letters,
				newspaper, radio, television or direct mail advertising.
Advertising must be truthful and not misleading in fact or
				implication. Words or phrases shall not be used whose meaning is unclear,
				ambiguous or whose understanding depends upon familiarity with technical
				terminology.
Words, phrases or illustrations shall not be used in a manner
				which misleads or has the capacity or tendency to deceive or mislead.
Each HMO shall maintain at its home or principal office a
				complete file containing a specimen copy of every printed, published, or
				prepared advertisement disseminated with a notation indicating the manner and
				extent of distribution and the form number of any contract or health service
				plan advertised. Such file shall be subject to inspection by the Commissioner
				or the Public Health Officer. All such advertisements shall be maintained in
				said file for a period of either four years or until the filing of the next
				regular report on the financial examination of the HMO, whichever is
				sooner.
Each HMO subject to the provisions of this chapter shall file
				with its Annual Statement a certificate of compliance executed by an authorized
				officer of the HMO wherein it is stated that to the best of his or her
				knowledge, information, and belief the advertisements which were disseminated
				in this state by or on behalf of the HMO during the preceding statement year
				complied or were made to comply in all respects with the provisions of this
				chapter and the laws of Alabama.
If the Commissioner finds that it may be in the best interests
				of the public due to possible violations of the Trade Practices Law or the
				Deceptive Practices Act by the HMO or its agents, he or she may require
				particular HMOs or agents to submit all or any part of their advertisements to
				him or her for review prior to use.
All advertisements must contain the name and address of the HMO
				as filed with the Commissioner.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.07 - Merchandising And Agents' Licensing

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The manner of merchandising enrollee
			 contracts must be fully explained by the HMO prior to certification and any
			 subsequent changes in this area must be approved by the Commissioner before
			 use. All salesmen or representatives of the HMO engaged in soliciting enrollees
			 are bound by the advertising rules previously noted. The HMO is responsible for
			 the acts of its agents in soliciting enrollees.
(2) Each sales agent or other representative
			 of an HMO shall satisfactorily pass the examination given by the Commissioner
			 and shall be licensed as a disability agent after meeting qualifications for
			 being examined as a disability agent or otherwise comply with the requirements
			 for being licensed as an agent under Chapter 7, Title 27
Code of
			 Ala. 1975
before representing the HMO in its sales and
			 merchandising activities. Any HMO which pays any commissions to an unlicensed
			 agent or representative shall remit upon demand by the Commissioner a fine of
			 three times the commission paid the agent with the fine not to exceed the total
			 of $5,000.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.08 - Inspection Of Contract

Current through Register Vol. 42, No. 9, June 28, 2024
For individual contracts, an enrollee may, if the contract is
				not satisfactory for any reason, return it within ten days of its receipt, and
				receive a full refund of any deposit paid. This right of return shall not act
				as a cure for misleading or deceptive advertising or selling methods which
				violate the Trade Practices Law or the Deceptive Practices Act, nor may it be
				exercised if the enrollee uses the services of the HMO within the ten (10) day
				period.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.09 - Filing, Approval Of Forms

Current through Register Vol. 42, No. 9, June 28, 2024
Every contract, rider, endorsement, certificate, application or
				other form to be used or issued must be filed by the HMO for approval by the
				Commissioner.
The Commissioner shall disapprove any form, or withdraw
				previous approval thereof if the form:
(1) In any respect is in violation of or
			 fails to comply with the provisions of Sections
			 27-21A-1
et
seq
.
Code of
			 Ala. 1975
, other applicable Alabama statutes, or these
			 chapters.
(2) Contains, or
			 incorporates by reference, any inconsistent, ambiguous or misleading words or
			 phrases, or exceptions and conditions which deceptively affect the risk to be
			 assured under the contract.
(3) Has
			 any title, heading or other indication of its provisions which is
			 misleading.
(4) Is printed or
			 reproduced so as not to be fully legible.
(5) Provides for charges which are excessive,
			 inadequate or unfairly discriminatory.
(6) Contains provisions which are unfair,
			 inequitable, frivolous or contrary to the public policy of this State, or which
			 encourage or lend themselves to misrepresentation.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-079 - HEALTH MAINTENANCE ORGANIZATIONS GENERALLY › Section 482-1-079-.10 - Annual Report And Quarterly Reports

Current through Register Vol. 42, No. 9, June 28, 2024
Each HMO shall furnish to the Commissioner, with a copy to the
				Department of Public Health, an accurate report annually on or before the first
				day of March providing the information required by law for the preceding year,
				in the convention form as approved by the National Association of Insurance
				Commissioners (N.A.I.C.). Any report which is not filed on or before March 1
				will subject the HMO to a fine of $500 and/or delinquency proceedings including
				suspension or revocation of its certificate of authority if willful and without
				just cause.
Any quarterly financial reports, if required by the
				Commissioner, shall be filed by each HMO on forms adopted by the N.A.I.C. not
				later than forty-five (45) days after the end of each calendar quarter.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-21A-19.