reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.11 - Continuing Education

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Individual
			 licensees shall satisfactorily complete such courses or programs of instruction
			 as may be approved in accordance with this chapter in the minimum number of 24
			 classroom hours, 3 hours of which shall be on the topic of ethics, in order to
			 be eligible to renew an independent adjuster license, except as otherwise
			 indicated in this rule.
(2)
(a) Licensees Born in Even-numbered Years,
			 Renewal in 2014 and thereafter. Along with the renewal of license due to be
			 completed in accordance with Rule
			 482-1-151-.10(2)
			 in the year 2014 and in every other year thereafter, every individual licensee
			 born in an even-numbered year and licensed in this state as an independent
			 adjuster and not exempt under Rule
			 482-1-151-.01(2)(d)
			 shall satisfactorily complete such courses or programs of instruction as may be
			 approved in accordance with this chapter in the minimum number of 24 classroom
			 hours, 3 hours of which shall be on the topic of independent adjuster
			 ethics.
(b) Licensees Born in
			 Odd-numbered Years, Renewal in 2015 and thereafter. Along with the renewal of
			 license due to be completed in accordance with Rule
			 482-1-151-.10(2)
			 in the year 2015 and in every other year thereafter, every individual licensee
			 born in an odd-numbered year and licensed in this state as an independent
			 adjuster and not exempt under Rule
			 482-1-151-.01(2)(d)
			 shall satisfactorily complete such courses or programs of instruction as may be
			 approved in accordance with this chapter in the minimum number of 24 classroom
			 hours, 3 hours of which shall be on the topic of insurance independent adjuster
			 ethics or business practices.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.12 - Continuing Education Providers

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The
			 Commissioner shall approve and authorize providers of continuing education
			 courses and programs, and will designate any such course as being acceptable
			 for the purposes of this chapter. Each such authority holder must apply
			 annually for the continued authority to offer continuing education courses in
			 this state.
(2) The courses or
			 programs of instruction successfully completed which shall be deemed to meet
			 the Commissioner's standards for continuing educational requirements and the
			 number of classroom hours for which they are equivalent are:
(a) Any course or program of instruction or
			 seminar shall, subject to the approval of the Commissioner, qualify for the
			 equivalency of the number of classroom hours assigned thereto by the
			 Commissioner.
(b) Any
			 correspondence or internet course approved by the Commissioner shall qualify
			 for the equivalency of the number of classroom hours assigned thereto by the
			 Commissioner. To be approved, a correspondence or internet course must include
			 an appropriate testing instrument requiring a grade of 70 percent to
			 successfully complete the course. The examination must be administered by a
			 third party proctor, who must sign an affidavit attesting to the fact that the
			 student received no outside assistance in the completion of the final
			 examination. The proctor cannot be a friend, relative, or coworker of the
			 licensee, nor anyone with a financial interest in the success of the licensee
			 taking the examination.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.13 - Compliance

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
(a) Every independent adjuster subject to
			 this chapter shall complete an application for license renewal in accordance
			 with Rule
			 482-1-151-.10.
(b) The license of any individual or business
			 entity independent adjuster failing to complete the application for license
			 renewal within the time specified in Rule 482-1-151 -. 10(2) will expire but
			 there is a 30-day grace period following the expiration during which time the
			 licensee can renew with payment of one and one-half times the renewal fee. If
			 the individual independent adjuster shall complete the application for license
			 renewal prior to the end of said 30-day grace period, along with the payment of
			 the applicable fees, the license will not expire.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.15

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-151 - INDEPENDENT ADJUSTERS › Section 482-1-151-.16 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this chapter or the
			 applicability of the provision to other persons or circumstances shall not be
			 affected.
(2) This chapter shall
			 become effective upon its approval by the Commissioner of Insurance and upon
			 its having been on file as a public document in the office of the Secretary of
			 State for ten days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-9A-18 (2011).
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purposes of this chapter are to require that rate filings
				for specified classes of personal lines property insurance set forth separate
				rates for hurricane coverage, all other wind/hail coverage, and all other
				perils; that such rates be actuarially supported and filed and approved before
				use; and that the separate premiums for hurricane coverage, all other wind/hail
				coverage, and all other perils coverage be prominently displayed on a document
				in a manner approved by the department.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This regulation is adopted on the authority of
Code
				of Ala. 1975
, §
								27-2-17,
				27-13-1
et seq.
				,
27-14-8 through 27-14-11 (1975).
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.03 - Applicability

Current through Register Vol. 42, No. 9, June 28, 2024
(1) This chapter
			 applies to all insurers authorized to transact the property line of insurance
			 in Alabama.
(2) The requirements
			 described in this chapter apply to the following classes of personal lines
			 property insurance: homeowners and renters/tenants; condominium (unit owners);
			 and dwelling fire and extended coverage.
(3) Implementation dates are as specified in
			 the following rules.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.04 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions apply for purposes of this
				chapter:
(1) Hurricane coverage.
			 Coverage for protection against wind/hail losses caused by a
			 hurricane.
(2) All other wind/hail
			 coverage. Coverage for protection against all other wind/hail losses not caused
			 by a hurricane.
(3) All other
			 perils coverage. Coverage for protection against all losses except those caused
			 by (1) and (2)above.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.05 - Requirement For Separate Rates By Peril In Rate Filings

Current through Register Vol. 42, No. 9, June 28, 2024
All property rate filings must provide property rates(including
				rating factors, rate or premium credits or surcharges, or rating tiers) for the
				basic policy separately for hurricane coverage, all other wind/hail coverage,
				and all other perils coverage in accordance with the implementation dates
				provided in this chapter. The approved rates (including rating factors, rate or
				premium credits or surcharges, or rating tiers)must be displayed separately in
				the documentation of the insurer's class plan in like manner for these types of
				coverage. Insurers may further subdivide the "all other perils" into additional
				perils for rating purposes if they so desire. Rates for additional coverages,
				voluntary endorsements, or policy limits changes (other than coverage limits
				for dwelling or personal property, or changes in deductibles) are not required
				to be separated by peril.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.06 - Requirement For Filing And Approval And Actuarial Support

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The requirements of this rule apply to
			 all home owner, renters/tenants, and condominiums (unit owners) rate filings
			 within the scope of this chapter made to the Department to be effective on or
			 after January 1, 2018. All such rate filings shall be made on or before June 1,
			 2017.
(2) The requirements of this
			 rule apply to all dwelling fire rate and extended coverage filings within the
			 scope of this chapter made to the Department to be effective on or after
			 January 1, 2019. All such rate filings shall be made on or before June 1,
			 2018.
(3) All rating factors, rate
			 or premium credits or surcharges, or rating tiers utilized in the premium
			 calculation must be filed, approved, and applied separately for hurricane
			 coverage, all other wind/hail coverage, and all other perils coverage. Rates
			 for additional coverages, voluntary endorsements, or policy limits changes
			 (other than coverage limits for dwelling or personal property, or changes in
			 deductibles) are not required to be separated by peril. Filing and approval
			 must occur before use.
(4) All
			 rating factors, rate or premium credits or surcharges, and rating tiers must be
			 actuarially supported.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.07 - Requirement For Disclosure Of Separate Premiums By Peril On Declarations Page, Billing Statement, Or Policy Checklist

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The requirements of this rule apply to
			 homeowner, renters/tenants, and condominiums (unit owners) policies of new
			 business with an effective date on or after January 1, 2018 and to existing
			 homeowner policies at the time of renewal with a renewal date on or after
			 January 1, 2018.
(2) The
			 requirements of this rule apply to policies of new dwelling fire/extended
			 coverage policies with an effective date on or after January 1, 2019 and to
			 existing dwelling fire/extended coverage policies at the time of renewal with a
			 renewal date on or after January 1, 2019.
(3) Separate premiums for hurricane coverage,
			 all other wind/hail coverage, and all other perils coverage, as well as a total
			 premium for the policy, shall be prominently displayed in one of the following
			 manners:
(1) on the policy declarations page,
			 renewal declarations page, renewal certificate, or on a supplemental
			 declarations page;
(2) on the
			 billing statement or on a supplemental page included with the billing
			 statement;
(3) on the outline of
			 coverage and comprehensive policy checklist (required by the Alabama Home
			 owners Bill of Rights Act,
Code of Ala. 1975
,
			 §§
									27-22-40 et seq. (2012)) or a
			 supplemental page included with the policy checklist; or
(4) on some other document that will be
			 readily seen by the insured. All insurers must file with the Department for
			 approval a sample of the page providing these separate premiums and an
			 explanation as to where the page will be placed in the document mailings to the
			 insured. Alternative language to describe the three peril groups on the premium
			 document may be proposed in the rate filing.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.08 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
The provisions of this chapter are severable. If any provision
				or the application thereof to any person or circumstance is held invalid for
				any reason, the invalidity shall not affect the other provisions or any other
				application of this chapter which can be given effect without the invalid
				provisions or application.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS › Section 482-1-152-.09 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
Subject to the implementation provisions, 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.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-13-1 et seq., 27-14-8 through
				  27-14-11.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-153 - PORTABLE ELECTRONICS INSURANCE VENDORS › Section 482-1-153-.01 - Purpose, Scope AAnd Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 The purposes of this regulation are as follows:
(a) To set forth rules and procedural
			 requirements the Commissioner deems necessary to carry out the provisions of
			 Chapter 22A,
Code of Ala. 1975(2012)
, relating to the
			 licensing of portable electronics insurance vendors as limited lines insurance
			 producers.
(b) To set forth the
			 procedures for the renewal of licenses of portable electronics insurance
			 vendors as insurance producers.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-153 - PORTABLE ELECTRONICS INSURANCE VENDORS › Section 482-1-153-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
Unless the context otherwise requires, terms found in this
				regulation are used as defined in
Code of Ala. 1975
,
				§
								27-22A-1 (2012). The following
				terms are defined for purposes of this regulation:
(a) LARGE VENDOR. A vendor with more than 10
			 locations in Alabama.
(b) LICENSEE.
			 A portable electronics insurance vendor licensed in accordance with this
			 regulation.
(c) SMALL VENDOR. A
			 vendor with 10 or fewer locations in
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-22A-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-153 - PORTABLE ELECTRONICS INSURANCE VENDORS › Section 482-1-153-.03 - Portable Electronics Insurance Vendor License

Current through Register Vol. 42, No. 9, June 28, 2024
(1) A vendor of portable electronics
			 insurance may be licensed as a limited lines insurance producer as either a
			 business entity or an individual. Subject to the supervision and other
			 requirements set forth in
Code of Ala. 1975
, §
								27-22A-4, the employees and
			 authorized representatives of a licensed vendor are not required to be
			 individually licensed.
(2) To be
			 licensed as a vendor of portable electronics insurance, a business entity must
			 be a corporation, a limited liability company, a partnership, a limited
			 partnership, a limited liability partnership, or another legally recognized
			 form of entity distinct from an individual or the individuals or other entities
			 that may own or hold interests in, or be members of, the entity as determined
			 by the laws of the entity's state of domicile. A sole proprietorship can only
			 be licensed as an individual. One or more individuals doing business under a
			 trade name cannot obtain a business entity license absent formal organization
			 as an entity.
(3) An applicant
			 shall complete the Department's on-line licensing process to become licensed as
			 a vendor of portable electronics insurance.
(4) A foreign-domiciled business entity must
			 register with the Alabama Secretary of State in accordance with the applicable
			 requirements of Ala. Code Tit. 10A (2011).
(5) Instructions for the on-line licensing
			 process, as it may change from time to time, will be provided on the
			 Department's Web page.
(6) The fees
			 for a vendor of portable electronics insurance are as follows:
(a) For a Large vendor:
1. Initial license fee, as permitted in
			 Section 27-22A-7(e)
			 $1,000.00
2. License renewal fee,
			 as permitted in Section
			 27-22A-7(e)
			 $500.00
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-153 - PORTABLE ELECTRONICS INSURANCE VENDORS › Section 482-1-153-.04 - Renewal Of Licenses

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All
			 portable electronics insurance vendors licensed in Alabama are limited lines
			 insurance producers and are thus subject to the same renewal requirements of
			 insurance producers as set forth in Chapter 482-1-110, except they are not
			 required to complete any continuing education requirements. The initial renewal
			 schedules for licensees are set forth in this rule.
(2)
(a) As
			 set forth in Chapter 482-1-110, individual licensees shall renew their license
			 biennially based on their month and year of birth.
(b) Licensees Born in Even-numbered Years.
			 Beginning in the year 2014, the license of an individual licensee born in an
			 even-numbered year will expire if not renewed at the end of the licensee's
			 birth month in 2014 and every other year thereafter.
(c) Licensees Born in Odd-numbered Years.
			 Beginning in the year 2015, the license of an individual licensee born in an
			 odd-numbered year will expire if not renewed at the end of the licensee's birth
			 month in 2015 and every other year thereafter.
(d) All individual licensees shall complete
			 an application for license renewal on the Department's Web site by the license
			 expiration date, to include payment of the applicable fee as set forth in Rule
			 482-1-153-.03. Any license not
			 renewed by the license expiration date may still be renewed during the first 30
			 days following expiration, with reinstatement retroactive to the expiration
			 date, by paying the applicable fee set forth in Rule
			 482-1-153-.03.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-153 - PORTABLE ELECTRONICS INSURANCE VENDORS › Section 482-1-153-.05 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this regulation or
			 the applicability of the provision to other persons or circumstances shall not
			 be affected.
(2) This regulation
			 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.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-22A-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.01 - Purpose, Scope And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 The purpose of this chapter is to prescribe consequences for failure of
			 payments due to the Department.
(2)
			 This chapter shall apply to all individuals and business entities tendering, or
			 obligated to tender, payment to the Department for a fee or charge of any
			 kind.
(3) This chapter is adopted
			 pursuant to
Code of Ala.
1975, §§
								27-2-17,
			 27-4-2, and
			 8-8-15 (1975).
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
As used in this chapter:
(a) ASSESSMENTS AND FINES. Monetary amounts
			 due for payment to the Department and designated as an assessment, a fine, or a
			 penalty in any order, consent order, settlement, warning letter agreement, or
			 other form of unilateral or mutually agreed-to disposition between the
			 Department and a licensee or an unlicensed individual or business
			 entity.
(b) DEPARTMENT. The
			 Department of Insurance and any of its divisions or units, including, without
			 limitation, the Office of Commissioner and the Office of State Fire Marshal,
			 and any third party which collects payments on behalf of the Department by
			 agreement with the Department.
(c)
			 LICENSE. Any form of individual or business entity license, permit, or
			 registration issued by the Department, but does not include a certificate of
			 authority issued to an insurance company.
(d) LICENSEE. An individual or business
			 entity which holds a license.
(e)
			 LICENSE FEES. The fees and, as applicable, any associated processing fees
			 charged for issuance of a license by the Department.
(f) PAYMENT. The remitting of funds by check,
			 other written negotiable instrument, or any form of electronic funds transfer,
			 including, without limitation, credit cards and charge cards.
(g) PAYMENT FAILURE. Occurs if a payment
			 tendered to the Department fails for any reason not within the control of the
			 Department, including without limitation, dishonor or rejection.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.03 - License Fee - Failure Of Payment

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Upon being informed of a payment failure
			 concerning a license fee, the Department will issue to the licensee written
			 notice of intent to suspend the license if the license fee, together with any
			 additional charges occasioned by the payment failure, are not paid in full by
			 the date specified in the notice. If applicable, such notice may require that
			 payment be made to a third party and evidence of payment furnished by the third
			 party to the Department. The notice may be issued by mail, facsimile, or
			 electronically at the election of the Department.
(2) If the licensee does not comply with the
			 notice, the license shall be suspended without further notice and, as
			 applicable, information concerning the suspension will be reported to one or
			 more centralized data registries maintained under the authority of the National
			 Association of Insurance Commissioners. Reinstatement of a license after
			 suspension will only occur on such terms and conditions as the Department may
			 prescribe. The term of a license as originally issued is not extended by the
			 period of a suspension.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-4-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.04 - Assessments And Fines - Failure Of Payment

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Upon being informed of a payment failure
			 concerning an assessment or fine involving a licensee, the Department will
			 issue to the licensee written notice of intent to suspend the licensee's
			 license if the balance of the assessment or fine then due, together with any
			 additional charges occasioned by the payment failure, are not paid in full by
			 the date specified in the notice. The notice may be issued by mail, facsimile,
			 or electronically at the election of the Department.
(2) If the licensee does not comply with the
			 notice, the license shall be suspended without further notice and, as
			 applicable, information concerning the suspension will be reported to one or
			 more centralized data registries maintained under the authority of the National
			 Association of Insurance Commissioners. Reinstatement of a license after
			 suspension will only occur on such terms and conditions as the Department may
			 prescribe. The term of a license as originally issued is not extended by the
			 period of a suspension.
(3) If the
			 payment failure concerning an assessment or fine relates to an unlicensed
			 individual or entity, the Department, at its sole election, may either deem the
			 disposition immediately void or issue to the unlicensed party written notice of
			 intent to void the disposition if the balance of the assessment or fine then
			 due, together with any additional charges occasioned by the payment failure,
			 are not paid in full by the date specified in the notice. The notice may be
			 issued by mail, facsimile, or electronically at the election of the
			 Department.
(4) The provisions of
			 this rule apply to all dispositions after the effective date of this chapter
			 whether or not the disposition documentation refers to this rule.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-4-2.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.05 - Payment Failure - Payment By Check - Bad Check Charge

Current through Register Vol. 42, No. 9, June 28, 2024
(1) f a payment failure involves a check
			 tendered for any license fee, assessment or fine, or any other type of fee or
			 charge of any kind, the person remitting the check shall pay a bad check charge
			 of $30.00 or the maximum amount allowed under
Code of Ala.
			 1975
, §
								8-8-15 (1997) if amended after the
			 effective date of this chapter in addition to the amount of the
			 check.
(2) If, after notice from
			 the Department, an individual or business entity fails to resolve a bad check
			 tendered in instances other than for payment of a license fee or an assessment
			 or fine, the Department at its election may decline to act on or process
			 further requests from such individual or entity until the amount of the check
			 and bad check charge have been fully paid.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  8-8-15.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-154 - PAYMENT FAILURE › Section 482-1-154-.06 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this chapter or the
			 applicability of the provision to other persons or circumstances shall not be
			 affected.
(2) This chapter shall
			 become effective 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.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-155 - PUBLICATION FEES › Section 482-1-155-.01 - Purpose And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The
			 purpose of this chapter is to set the charge for the publication of certain
			 materials for public distribution.
(2) This chapter is adopted pursuant to
Code of Ala.
1975, §§
								27-2-16 and
			 27-2-17.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-16,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-155 - PUBLICATION FEES › Section 482-1-155-.02 - Producer Directory

Current through Register Vol. 42, No. 9, June 28, 2024
The price for obtaining a directory on compact disk of each
				producer licensed in this state is $200.00.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-16,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-155 - PUBLICATION FEES › Section 482-1-155-.03 - Electronic Copy Of Rating Manual

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Electronic copies of rating manuals are
			 freely available through the Web site maintained by Department of
			 Insurance.
(2) The price for
			 providing an electronic copy of a particular insurer's rating manual by
			 Department of Insurance staff is $10.00.
(3) In the event the electronic copy of a
			 rating manual cannot be provided as an attachment to an electronic mail
			 message, there shall be an additional charge of $5.00 to cover the cost of
			 providing a compact disk and copying the electronic file to the compact
			 disk.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-16,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-155 - PUBLICATION FEES › Section 482-1-155-.04 - Severability And Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any rule or portion of a rule or its applicability to any person or
			 circumstance is held invalid by a court, the remainder of this chapter or the
			 applicability of the provision to other persons or circumstances shall not be
			 affected.
(2) This chapter shall
			 become effective 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.
Authority:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-16,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is adopted pursuant to Sections
				27-2-17 and
				27-5B-1, et seq.,
Code
				of Ala. 1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to set forth rules and
				procedural requirements which the Commissioner deems necessary to carry out the
				provisions of the Reinsurance Credit Law, Chapter 5B of Title 27, beginning
				with Section
				27-5B-1,
Code of Ala.
				1975
("the Act"). The actions and information required by this
				chapter are hereby declared to be necessary and appropriate in the public
				interest and for the protection of the ceding insurers in this
				state.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.03 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this chapter, or the application of the
				provision to any person or circumstance, is held invalid, the remainder of the
				chapter, and the application of the provision to persons or circumstances other
				than those to which it is held invalid, shall not be affected, and to that end
				the provisions of this chapter are separable.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.04 - Credit For Reinsurance - Reinsurer Licensed In This State

Current through Register Vol. 42, No. 9, June 28, 2024
Pursuant to Section
				27-5B-4, the Commissioner shall
				allow credit for reinsurance ceded by a domestic insurer to an assuming insurer
				that was licensed in this state as of any date on which statutory financial
				statement credit for reinsurance is claimed.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.05 - Credit For Reinsurance - Accredited Reinsurer

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Pursuant to Section
			 27-5B-5, the commissioner shall
			 allow credit for reinsurance ceded by a domestic insurer to an assuming insurer
			 that is accredited as a reinsurer in this state as of the date on which
			 statutory financial statement credit for reinsurance is claimed. An accredited
			 reinsurer must:
(a) File a properly executed
			 Form AR-1 (attached as an exhibit to this regulation) as evidence of its
			 submission to this state's jurisdiction and to this state's authority to
			 examine its books and records.
(b)
			 File with the commissioner a certified copy of a certificate of authority or
			 other acceptable evidence that it is licensed to transact insurance or
			 reinsurance in at least one state, or, in the case of a U.S. branch of an alien
			 assuming insurer, is entered through and licensed to transact insurance or
			 reinsurance in at least one state.
(c) File annually with the commissioner a
			 copy of its annual statement filed with the insurance department of its state
			 of domicile or, in the case of an alien assuming insurer, with the state
			 through which it is entered and in which it is licensed to transact insurance
			 or reinsurance, and a copy of its most recent audited financial
			 statement.
(d) Maintain a surplus
			 as regards policyholders in an amount not less than $20,000,000, or obtain the
			 affirmative approval of the commissioner upon a finding that it has adequate
			 financial capacity to meet its reinsurance obligations and is otherwise
			 qualified to assume reinsurance from domestic insurers.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.06 - Credit For Reinsurance - Reinsurer Domiciled And Licensed In Another State

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Pursuant to
			 Section 27-5B-6, the Commissioner shall
			 allow credit for reinsurance ceded by a domestic insurer to an assuming insurer
			 which complies with all of the following as of any date on which statutory
			 financial statement credit for reinsurance is claimed:
(a) Is domiciled and licensed in (or, in the
			 case of a United States branch of an alien assuming insurer, is entered through
			 and licensed in) a state which employs standards regarding credit for
			 reinsurance substantially similar to those applicable under the Act and this
			 chapter.
(b) Maintains a surplus as
			 regards policyholders in an amount not less than $20,000,000.
(c) Files a properly executed Form AR-1 with
			 the Commissioner as evidence of its submission to this state's authority to
			 examine its books and records.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.09 - Credit For Reinsurance Required By Law

Current through Register Vol. 42, No. 9, June 28, 2024
Pursuant to Section
				27-5B-9, the Commissioner shall
				allow credit for reinsurance ceded by a domestic insurer to an assuming insurer
				not meeting the requirements of Sections
				27-5B-4,
				27-5B-5,
				27-5B-6,
				27-5B-7,
				27-5B-8,
				27-5B-8.1, or other appropriate
				section of the Act, but only with respect to the insurance of risks located in
				jurisdictions where such reinsurance is required by the applicable law or
				regulation of that jurisdiction. As used in this rule, "jurisdiction" means any
				state, district or territory of the United States and any lawful national
				government.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.10 - Asset Or Reduction From Liability For Reinsurance Ceded To An Unauthorized Assuming Insurer Not Meeting The Requirements Of Rules 482-1-156-.04 Through 482-1-156-.09

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 Pursuant to Section
			 27-5B-14, the Commissioner shall
			 allow a reduction from liability for reinsurance ceded by a domestic insurer to
			 an assuming insurer not meeting the requirements of Sections
			 27-5B-4,
			 27-5B-5,
			 27-5B-6,
			 27-5B-7,
			 27-5B-8,
			 27-5B-8.1,
			 27-5B-9,
			 27-5B-10, or
			 27-5B-11, or other appropriate
			 section of the Act in an amount not exceeding the liabilities carried by the
			 ceding insurer. The reduction shall be in the amount of funds held by or on
			 behalf of the ceding insurer, including funds held in trust for the exclusive
			 benefit of the ceding insurer, under a reinsurance contract with such assuming
			 insurer as security for the payment of obligations under the reinsurance
			 contract. The security shall be held in the United States subject to withdrawal
			 solely by, and under the exclusive control of, the ceding insurer, or, in the
			 case of a trust, held in a qualified United States financial institution as
			 defined in Section
			 27-5B-15. This security may be in
			 the form of any of the following:
(a)
			 Cash.
(b) Securities listed by the
			 Securities Valuation Office of the National Association of Insurance
			 Commissioners, including those deemed exempt from filing as defined by the
			 Purposes and Procedures Manual of the Securities Valuation Office, and
			 qualifying as admitted assets.
(c)
			 Clean, irrevocable, unconditional and "evergreen" letters of credit issued or
			 confirmed by a qualified United States institution, as defined in the Act,
			 effective no later than December 31 of the year for which filing is being made,
			 and in the possession of or in trust for the ceding insurer on or before the
			 filing date of its annual statement. Letters of credit meeting applicable
			 standards of issuer acceptability as of the dates of their issuance (or
			 confirmation) shall, notwithstanding the issuing (or confirming) institution's
			 subsequent failure to meet applicable standards of issuer acceptability,
			 continue to be acceptable as security until their expiration, extension,
			 renewal, modification or amendment, whichever first occurs.
(d) Any other form of security acceptable to
			 the Commissioner.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.11 - Trust Agreements Qualified Under Rule 482-1-156-.10

Current through Register Vol. 42, No. 9, June 28, 2024
(1) As used in this rule:
(a) "Beneficiary" means the entity for whose
			 sole benefit the trust has been established and any successor of the
			 beneficiary by operation of law. If a court of law appoints a successor in
			 interest to the named beneficiary, then the named beneficiary includes and is
			 limited to the court appointed domiciliary receiver (including conservator,
			 rehabilitator or liquidator).
(b)
			 "Grantor" means the entity that has established a trust for the sole benefit of
			 the beneficiary. When established in conjunction with a reinsurance agreement,
			 the grantor is the unlicensed, unaccredited assuming insurer.
(c) "Obligations", as used in subparagraph
			 (k) of paragraph (2) of this rule, means all of the following:
1. Reinsured losses and allocated loss
			 expenses paid by the ceding company, but not recovered from the assuming
			 insurer.
2. Reserves for reinsured
			 losses reported and outstanding.
3.
			 Reserves for reinsured losses incurred but not reported.
4. Reserves for allocated reinsured loss
			 expenses and unearned premiums.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.13 - Other Security

Current through Register Vol. 42, No. 9, June 28, 2024
A ceding insurer may take credit for unencumbered funds
				withheld by the ceding insurer in the United States subject to withdrawal
				solely by the ceding insurer and under its exclusive control.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.14 - Reinsurance Contract

Current through Register Vol. 42, No. 9, June 28, 2024
Credit will not be granted, nor an asset or reduction for
				liability allowed, to a ceding insurer for reinsurance effected with assuming
				insurers meeting the requirements of Rules
				482-1-156-.04,
				482-1-156-.05,
				482-1-156-.06,
				482-1-156-.07,
				482-1-156-.08,
				482-1-156-.08.1, or
				482-1-156-.09 or otherwise in
				compliance with the Act after the adoption of this chapter unless the
				reinsurance agreement includes all of the following:
(a) A proper insolvency clause, which
			 stipulates that reinsurance is payable directly to the liquidator or successor
			 without diminution regardless of the status of the ceding company, pursuant to
			 Sections 27-5B-16 and
			 27-32-39,
Code of Ala.
			 1975
.
(b) A provision
			 pursuant to the Act whereby the assuming insurer, if an unauthorized assuming
			 insurer, has submitted to the jurisdiction of an alternative dispute resolution
			 panel or court of competent jurisdiction within the United States, has agreed
			 to comply with all requirements necessary to give such court or panel
			 jurisdiction, has designated an agent upon whom service of process may be
			 effected, and has agreed to abide by the final decision of such court or
			 panel.
(c) Includes a proper
			 reinsurance intermediary clause, if applicable, which stipulates that the
			 credit risk for the intermediary is carried by the assuming insurer.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.15 - Contracts Affected

Current through Register Vol. 42, No. 9, June 28, 2024
All new and renewal reinsurance transactions entered into after
				December 31, 2013, shall conform to the requirements of the Act and this
				chapter if credit is to be given to the ceding insurer for such
				reinsurance.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Section 482-1-156-.16 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective January 1, 2014, upon its
				approval by the Commissioner of Insurance and upon its having been on file as a
				public document in the office of the Secretary of State for ten
				days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-156 - CREDIT FOR REINSURANCE › Appendix A - FORMS

Current through Register Vol. 42, No. 9, June 28, 2024
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Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-5B-1, et seq. (2013)
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-157 - CRIMINAL HISTORY BACKGROUND CHECKS FOR INSURANCE PRODUCERS AND INDEPENDENT ADJUSTERS › Section 482-1-157-.01 - Purpose, Scope, And Authority

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 The purposes of this chapter are as follows:
(a) To set forth rules the Commissioner deems
			 necessary to carry out the provisions of
Code of Ala.
			 1975
, §
									27-7-4.4 (2014), relating to
			 conducting a criminal history background check on applicants for license as
			 insurance producer.
(b) To set
			 forth rules the Commissioner deems necessary to carry out the provisions of
Code of Ala. 1975
, §
									27-9A-17 (2014), relating to
			 conducting a criminal history background check on applicants for license as
			 independent insurance adjuster.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-157 - CRIMINAL HISTORY BACKGROUND CHECKS FOR INSURANCE PRODUCERS AND INDEPENDENT ADJUSTERS › Section 482-1-157-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions shall apply in this chapter:
(1) APPLICABLE APPLICATION. Any of the
			 following:
(a) An initial application for a
			 resident license as insurance producer for any major line of
			 authority.
(b) An application for
			 resident license as insurance producer for an additional major line of
			 authority.
(c) An application for
			 resident license as an independent insurance adjuster.
(d) An application for license as an
			 independent insurance adjuster by a non-resident who is designating Alabama as
			 his or her home state.
(e) An
			 application for an additional line of authority as independent insurance
			 adjuster by either a resident licensee or non-resident licensee who has
			 designed Alabama as his or her home state.