reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.18 - Transactions Subject To Prior Notice - Notice Filing (Form D)

Current through Register Vol. 42, No. 9, June 28, 2024
(1) An insurer
			 required to give notice of a proposed transaction pursuant to Section
			 27-29-5 shall furnish the required
			 information on Form D, hereby made a part of this chapter.
(2) Agreements for cost sharing services and
			 management services shall at a minimum and as applicable:
(a) Identify the person providing services
			 and the nature of such services.
(b) Set forth the methods to allocate
			 costs.
(c) Require timely
			 settlement, not less frequently than on a quarterly basis, and compliance with
			 the requirements in the Accounting Practices and Procedures Manual.
(d) Prohibit advancement of funds by the
			 insurer to the affiliate except to pay for services defined in the
			 agreement.
(e) State that the
			 insurer will maintain oversight for functions provided to the insurer by the
			 affiliate and that the insurer will monitor services annually for quality
			 assurance.
(f) Define books and
			 records of the insurer to include all books and records developed or maintained
			 under or related to the agreement.
(g) Specify that all books and records of the
			 insurer are and remain the property of the insurer and are subject to control
			 of the insurer.
(h) State that all
			 funds and invested assets of the insurer are the exclusive property of the
			 insurer, held for the benefit of the insurer and are subject to the control of
			 the insurer.
(i) Include standards
			 for termination of the agreement with and without cause.
(j) Include provisions for indemnification of
			 the insurer in the event of gross negligence or willful misconduct on the part
			 of the affiliate providing the services.
(k) Specify that, if the insurer is placed in
			 receivership or seized by the commissioner under Chapter 32:
1. All of the rights of the insurer under the
			 agreement extend to the receiver.
2. All books and records will immediately be
			 made available to the receiver, and shall be turned over to the receiver
			 immediately upon the receiver's request.
(l) Specify that the affiliate has no
			 automatic right to terminate the agreement if the insurer is placed in
			 receivership pursuant to Chapter 32.
(m) Specify that the affiliate will continue
			 to maintain any systems, programs, or other infrastructure notwithstanding a
			 seizure by the commissioner under Chapter 32, and will make them available to
			 the receiver, for so long as the affiliate continues to receive timely payment
			 for services rendered.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.18.1 - Enterprise Risk Report (Form F)

Current through Register Vol. 42, No. 9, June 28, 2024
The ultimate controlling person of an insurer required to file
				an enterprise risk report pursuant to Section
				27-29-4(1) shall
				furnish the required information on Form F, hereby made a part of this
				chapter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala. 1975,
				  §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.19 - Extraordinary Dividends And Other Distributions

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Requests for approval of extraordinary
			 dividends or any other extraordinary distribution to shareholders shall include
			 the following:
(a) The amount of the proposed
			 dividend.
(b) The date established
			 for payment of the dividend.
(c) A
			 statement as to whether the dividend is to be in cash or other property and, if
			 in property, a description thereof, its cost, and its fair market value
			 together with an explanation of the basis for valuation.
(d) A copy of the calculations determining
			 that the proposed dividend is extraordinary. The work paper shall include the
			 following information:
1. The amounts, dates
			 and form of payment of all dividends or distributions (including regular
			 dividends but excluding distributions of the insurer's own securities) paid
			 within the period of twelve (12) consecutive months ending on the date fixed
			 for payment of the proposed dividend for which approval is sought and
			 commencing on the day after the same day of the same month in the last
			 preceding year.
2. Surplus as
			 regards policyholders (total capital and surplus) as of the
			 31st day of December next preceding.
3. If the insurer is a life insurer, the net
			 gain from operations for the 12-month period ending the
			 31st day of December next preceding.
4. If the insurer is not a life insurer, the
			 net income less realized capital gains for the 12-month period ending the 31st
			 day of December next preceding and the two preceding 12-month
			 periods.
5. If the insurer is not a
			 life insurer, the dividends paid to stockholders excluding distributions of the
			 insurer's own securities in the preceding two (2) calendar years.
(e) A balance sheet and statement
			 of income for the period intervening from the last annual statement filed with
			 the Commissioner and the end of the month preceding the month in which the
			 request for dividend approval is submitted.
(f) A brief statement as to the effect of the
			 proposed dividend upon the insurer's surplus and the reasonableness of surplus
			 in relation to the insurer's outstanding liabilities and the adequacy of
			 surplus relative to the insurer's financial needs.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.20 - Adequacy Of Surplus

Current through Register Vol. 42, No. 9, June 28, 2024
The factors set forth in subsection (f) of Section
				27-29-5 are not intended to be an
				exhaustive list. In determining the adequacy and reasonableness of an insurer's
				surplus no single factor is necessarily controlling. The Commissioner instead
				will consider the net effect of all of these factors plus other factors bearing
				on the financial condition of the insurer. In comparing the surplus maintained
				by other insurers, the Commissioner will consider the extent to which each of
				these factors varies from company to company and in determining the quality and
				liquidity of investments in subsidiaries, the Commissioner will consider the
				individual subsidiary and may discount or disallow its valuation to the extent
				that the individual investments so warrant.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.21 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective January 1, 2016, 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 the State for ten
				days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-057 - (REPEALED) › Section 482-1-057 - Repealed

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										41-22-6(b).
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This Chapter is made and promulgated by the undersigned
				Commissioner of Insurance, pursuant to the authority set forth in Section
				27-2-17,
Code of Ala.
				1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
This Chapter is intended to clarify and to set out the basic
				responsibilities of property and casualty producers in effecting placement of
				insurance under Section
				27-7-34,
Code of Ala.
				1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.03 - Limitations Imposed On Submission Of Business Under Section 27-7-34

Current through Register Vol. 42, No. 9, June 28, 2024
Any producer submitting business to another producer under the
				authority of Section
				27-7-34,
Code of Ala.
				1975
, shall not submit to the accepting producer on a "cash with
				application basis" more than 10 policies in any one calendar month. If a
				producer exceeds that number in any one calendar month, he or she must, at that
				time, secure a producer's appointment to represent the company. Failure to do
				so will be interpreted as violating the provisions Section of 27-7-34 and this
				Chapter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.04 - Producer On "Account Current Basis" With Insurers

Current through Register Vol. 42, No. 9, June 28, 2024
Any producer operating on an "account current basis" or any
				other type of credit arrangement with an insurer or a general agent of an
				insurer must be appointed as a producer to represent that insurer if he or she
				submits more than 10 policies to the insurer or general agent in any one
				calendar month.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.05 - Responsibility Of Accepting Agents

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 Any producer accepting business from another producer under the provisions of
			 Section 27-7-34, herein to be known as the
			 "accepting agent," has the responsibility of determining that the producer
			 offering the business, herein to be known as the "producing agent," is properly
			 licensed in this state as an insurance producer for the lines of insurance
			 involved and that the policy is issued by a licensed insurer in accordance with
			 its approved rules, rates and forms.
(2) Any producer accepting business from
			 another producer under the provisions of Section
			 27-7-34,
Code of Ala.
			 1975
shall be jointly responsible for servicing the policy along
			 with the producing agent.
(3) Any
			 credit extended by the accepting agent to the producing agent is done at the
			 peril of the accepting agent.
(4)
			 Commissions payable to the producing agent shall be commensurate with services
			 performed.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.06 - Responsibilities Of Producing Agents

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 Any producer offering business to another producer under the provisions of
			 Section 27-7-34,
Code of Ala.
			 1975
, has the responsibility of knowing that the accepting agent
			 is properly licensed and appointed as required under this statute.
(2) No producing agent shall hold himself or
			 herself out as having authority to bind coverage on behalf of any insurer
			 unless he or she is properly appointed as a producer for the insurer.
(3) Any producer accepting an application for
			 insurance under the provisions of Section
			 27-7-34,
Code of Ala.
			 1975
, shall at that time furnish the applicant a written receipt
			 listing coverages requested by the applicant and monies collected. The receipt
			 must also clearly state that insurance will not be effective until accepted and
			 bound by a duly appointed and licensed producer for the insurance company that
			 is to provide coverage.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.07 - Insurers Must Hire Resident Agents To Accept Brokerage Business

Current through Register Vol. 42, No. 9, June 28, 2024
Any insurer, or insurer acting through a licensed general
				agent, is prohibited by Section
				27-7-34,
Code of Ala.
				1975
, from accepting business on risks located in this State
				except through a licensed and appointed insurance producer. For this reason,
				any insurance company soliciting business from producers not appointed by it
				must have a duly appointed producer to accept all brokerage business. The
				appointed producer will be held accountable for all transactions involving
				brokerage business.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.08 - Exceptions

Current through Register Vol. 42, No. 9, June 28, 2024
This Chapter does not apply to licensed surplus line brokers
				subject to Section
				27-10-20 et seq.
Code
				of Ala. 1975
, (Unauthorized Insurers and Surplus Lines Law) or to
				business placed with the Alabama Automobile Insurance Plan or the Alabama
				Insurance Underwriting Association.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-058 - PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS › Section 482-1-058-.09 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This Chapter shall become effective upon its approval by the
				Commissioner of Insurance and upon its having been on file as a public document
				in the office of the Secretary of State for ten (10) days.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-059 - GUIDELINES TO BE USED FOR REAL ESTATE APPRAISALS (REPEALED) › Section 482-1-059-.01 - Authority (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-059 - GUIDELINES TO BE USED FOR REAL ESTATE APPRAISALS (REPEALED) › Section 482-1-059-.02 - Qualifications Of The Appraiser (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-059 - GUIDELINES TO BE USED FOR REAL ESTATE APPRAISALS (REPEALED) › Section 482-1-059-.03 - Type Of Appraisal (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-059 - GUIDELINES TO BE USED FOR REAL ESTATE APPRAISALS (REPEALED) › Section 482-1-059-.04 - Certification By Appraiser (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-059 - GUIDELINES TO BE USED FOR REAL ESTATE APPRAISALS (REPEALED) › Section 482-1-059-.05 - Effective Date (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-060 - ONLY ADMISSIBLE ASSETS SHALL BE REPORTED ON ANNUAL STATEMENTS › Section 482-1-060-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose and intent of this chapter is to prevent certain
				companies from reflecting values in their annual statements in a manner which
				produces a less conservative approach than reflected in their last report of
				examination. Companies will not be allowed to overstate assets or underestimate
				liabilities in the future by reflecting assets on a higher valuation basis or
				listing liabilities at amounts smaller than calculated by examiners unless the
				basis of calculation used by the examiners in the report of examination now
				produces these different values. For example, the market value of a security as
				valued under requirements stated in Regulation 98 may later reflect a higher
				valuation. Nothing in this chapter shall prevent the company from using this
				higher market value. Any reserve computations which produce different reserve
				figures may be used if these figures are calculated in accordance with Alabama
				law, certified by the company's qualified actuary and if an actuary employed by
				this department has not disallowed this particular basis of computation on a
				prior examination. No increase in the market value of real estate may be
				allowed. Nothing in this chapter shall prevent any company from reflecting
				values on a more conservative basis which produces a smaller surplus as regards
				policyholders. At any time subsequent to an examination any asset which becomes
				ineligible for admission through default or any other action must then be
				reflected on the basis then allowed under applicable statutes.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-37-7.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-060 - ONLY ADMISSIBLE ASSETS SHALL BE REPORTED ON ANNUAL STATEMENTS › Section 482-1-060-.02 - Only Admissible Assets Shall Be Reported On Annual Statements

Current through Register Vol. 42, No. 9, June 28, 2024
(1) All annual and
			 quarterly statements filed with the Insurance Department in compliance with
			 Section 27-3-26
et
seq
. of the Insurance Code
			 shall reflect assets and liabilities that are computed on the same basis as
			 utilized in the last filed report of examination.
(2) Assets which are reported on page 2 of
			 annual statement shall only be admitted assets. Admitted assets are those
			 assets allowed by the Insurance Department as value in a determination of the
			 financial condition of an insurer. As stated above, those assets must be
			 computed on the same basis as used by departmental examiners in the last filed
			 report of examination. Assets reported on quarterly statements shall also
			 conform to the requirements set out for assets on annual statements.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-060 - ONLY ADMISSIBLE ASSETS SHALL BE REPORTED ON ANNUAL STATEMENTS › Section 482-1-060-.03 - Liabilities Shall Be Under Same Basis As Last Report Of Examination

Current through Register Vol. 42, No. 9, June 28, 2024
Liabilities reported on page 3 of the annual statement and on
				corresponding sheets of quarterly statements shall reflect the same basis of
				computation utilized to compute liabilities in the last filed report of
				examination.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-060 - ONLY ADMISSIBLE ASSETS SHALL BE REPORTED ON ANNUAL STATEMENTS › Section 482-1-060-.04 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-3-26.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-061 - (REPEALED) › Section 482-1-061 - Repealed

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-062 - GENERAL PROPERTY/CASUALTY BINDERS, CERTIFICATES OF INSURANCE OR INDEMNITY AGREEMENTS › Section 482-1-062-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is adopted pursuant to Sections
				27-2-17 and
				27-14-8,
et
seq
.,
Code of
				Ala. 1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-14-8,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-062 - GENERAL PROPERTY/CASUALTY BINDERS, CERTIFICATES OF INSURANCE OR INDEMNITY AGREEMENTS › Section 482-1-062-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is intended to clarify and set out
				the basic responsibilities of producers and licensed insurers as to extension
				or restriction of property and casualty insurance coverages by use of a binder,
				certificate of insurance, indemnity agreement or any other type of
				instrument.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-14-8,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-062 - GENERAL PROPERTY/CASUALTY BINDERS, CERTIFICATES OF INSURANCE OR INDEMNITY AGREEMENTS › Section 482-1-062-.03 - Requirement

Current through Register Vol. 42, No. 9, June 28, 2024
(1) As used in this
			 rule, a "certificate of insurance" is an instrument, however titled and in any
			 format, which provides summary information about an insurance policy or
			 evidence of the existence of insurance coverage in specified amounts and with
			 specified terms, conditions, and limitations.
(2) Certificate forms shall not be filed with
			 the Commissioner. A person shall not represent or imply that a certificate form
			 has been approved or required by the Commissioner or the Department.
(3) No person may prepare, issue request, or
			 require a certificate of insurance which purports to affirmatively or
			 negatively amend, extend or alter the coverage provided by an insurer's
			 approved policy forms and endorsements.
(4) Each certificate or memorandum of
			 property or casualty insurance when issued to any person other than the
			 policyholder shall contain the following or similar statement: "This
			 certificate or memorandum of insurance neither affirmatively nor negatively
			 amends, extends, or alters the coverage afforded by policy number ________
			 issued by ____________ ."
(5) No
			 certificate of insurance shall contain references to construction or service
			 contracts or insurance requirements for the purpose of amending coverage
			 afforded by the policies to which the certificate makes reference. No
			 certificate of insurance may be used to amend, extend, restrict or alter
			 coverage afforded by the policies to which the certificate of insurance makes
			 reference.
(6) No licensed insurer
			 or its producer licensed to do business in Alabama shall have the authority to
			 issue an "Agent's Opinion Letter" or any other correspondence purporting an
			 insurance policy provides coverages which the policy does not
			 provide.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-14-8,
et
				  seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-062 - GENERAL PROPERTY/CASUALTY BINDERS, CERTIFICATES OF INSURANCE OR INDEMNITY AGREEMENTS › Section 482-1-062-.04 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this chapter, or its application to any
				person or circumstance, is held invalid, such determination shall not affect
				other provisions or applications of this chapter which can be given effect
				without the invalid provision or application, and to that end the provisions of
				this chapter are separable.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-14-8,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-062 - GENERAL PROPERTY/CASUALTY BINDERS, CERTIFICATES OF INSURANCE OR INDEMNITY AGREEMENTS › Section 482-1-062-.05 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective upon its approval by the
				Commissioner of Insurance and upon its having been on file as a public document
				in the office of the Secretary of State for ten days.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-14-8,
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-063 - MINIMUM SURPLUS REQUIRED TO ISSUE POLICIES OF INSURANCE › Section 482-1-063-.01 - Companies Affected

Current through Register Vol. 42, No. 9, June 28, 2024
The following chapter shall not be applicable to and the
				following types and kinds of insurance shall not be affected in any manner by
				this chapter.
(1) Mutual Aid
			 Associations under the provisions of Chapter 30, Title 27,
Code of
			 Ala. 1975
.
(2)
			 Reciprocal insurers under the provisions of Chapter 31, Title 27,
			 above.
(3) Fraternals under the
			 provisions of Chapter 34, Title 27, above.
(4) Automobile Clubs under the provisions of
			 Chapter 39, Title 27 above.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-063 - MINIMUM SURPLUS REQUIRED TO ISSUE POLICIES OF INSURANCE › Section 482-1-063-.02 - Minimum Surplus Required Before Policies Of Insurance May Be Issued

Current through Register Vol. 42, No. 9, June 28, 2024
(1) When the total
			 surplus (to include both paid in and contributed and unassigned surplus) of a
			 stock insurer falls below $100,000.00 and the surplus of a mutual insurer falls
			 below $200,000.00, the concerned insurer must immediately notify the Insurance
			 Department of such fact. The insurer is given 60 days from the time of
			 determination that its surplus falls below the above minimum to make good any
			 deficit.
(2) An insurer whose
			 surplus is below the minimum set forth in Rule
			 482-1-063-.02(1)
			 above and who has failed to make good the deficit within the 60 day period
			 must, at the conclusion of the 60 day period, immediately cease issuing new
			 policies of insurance and notify its agents to cease writing and accepting
			 contracts of insurance.
(3) The
			 above requirement shall not forbid the insurer whose surplus is below the
			 minimum from servicing existing business to include collecting premiums and the
			 payment of claims.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-063 - MINIMUM SURPLUS REQUIRED TO ISSUE POLICIES OF INSURANCE › Section 482-1-063-.03 - Minimum Surplus Denotes Hazardous Operation

Current through Register Vol. 42, No. 9, June 28, 2024
A determination that an insurer's surplus is below the minimum
				set forth in Rule
				482-1-063-.02(1)
				above will also be considered evidence that the insurer is in unsound condition
				or is in such condition as to render its further transaction of insurance in
				the state hazardous to its policyholders or to the public under the provisions
				of Section
				27-3-20,
Code of Ala.
				1975
above.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-063 - MINIMUM SURPLUS REQUIRED TO ISSUE POLICIES OF INSURANCE › Section 482-1-063-.04 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective ten (10) days from the date
				of certification that the properly executed chapter was delivered to the
				Secretary of State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
(1) This Chapter is
			 to reduce to writing the procedural rules governing hearings that have, many
			 times, been in effect for years. It is hoped that the party subjected to a
			 hearing will, if in possession of these rules, have a better idea of what the
			 procedure is and what to expect at a hearing. It is also hoped that these rules
			 will promote uniformity for future hearings.
(2) A hearing under the Insurance Code is not
			 necessarily conducted in the same manner as in a court of law, even though the
			 Commissioner, or his or her delegated authority, both of which are hereinafter
			 sometimes referred to as "hearing officer," acts in a quasi-judicial capacity,
			 and is not subject to the Alabama Rules of Civil Procedure or Rules of
			 Evidence, except as herein indicated otherwise. Therefore, the latitude allowed
			 a hearing officer is not meant to be unduly restricted by these rules.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
The authority for the promulgation of this chapter is under the
				provisions of Sections
				27-2-7 and
				27-2-17, Code of Alabama
				1975.
Author
: Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.03 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions shall apply for purposes of this
				chapter:
(a) Commissioner. The Alabama
			 Commissioner of Insurance. Said term may also refer to the person to whom
			 authority has been delegated pursuant to Section
			 27-2-8,
Code of Ala.
			 1975
.
(b) Department.
			 The Alabama Department of Insurance.
(c) Hearing Officer. The Commissioner or any
			 deputy, assistant, examiner or employee of the Department to whom authority has
			 been delegated to conduct a hearing and other proceedings pertaining
			 thereto.
(d) Hearing Reporter. The
			 Court Reporter engaged by the Department to transcribe the proceedings of the
			 hearing.
(d) Insurance Code. Title
			 27,
Code of Ala. 1975
, commencing with Section
			 27-1-1.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.05 - Communications with Hearing Officers

Current through Register Vol. 42, No. 9, June 28, 2024
The attorneys for the parties, including the attorney for the
				Department prosecuting or defending the case before a hearing officer, are
				forbidden from discussing such case with the hearing officer outside the
				presence of the other party's counsel. This prohibition shall not apply in the
				case of a hearing called for the purpose of adopting, revising, amending, or
				repealing a regulation.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.06 - Appeal From Hearing Officer's Ruling

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Any party or any person whose pecuniary
			 interests are directly and immediately affected by any order of the
			 Commissioner (or refusal or failure to issue any order) may appeal to the
			 appropriate Circuit Court pursuant to Section
			 27-2-32.
(2)
(a) An
			 appeal from an order of a hearing officer other than the Commissioner must
			 first be made to the Commissioner, who shall either affirm, modify, or rescind
			 the action theretofore taken.
(b)
			 The appeal to the Commissioner shall be on the record, for which notice of
			 appeal must be filed with the Commissioner within thirty (30) days from the
			 date of the order from which appealed. The Commissioner shall give notice to
			 all parties of the date on which the transcript and record are completed and
			 filed.
(c) The Appellant may serve
			 and file a brief within fourteen (14) days after the date of the Commissioner's
			 notice, in which brief oral argument may be requested.
(d) The Appellee may serve and file a brief
			 within fourteen (14) days after service of the brief of the Appellant, in which
			 brief oral argument may be requested.
(e) The Commissioner for good cause shown
			 may, upon motion, enlarge the time prescribed by this rule.
(f) The Commissioner may, upon the agreement
			 of all parties, dispense with the filing of briefs or may provide for a
			 different briefing schedule.
Author:
Commissioner of Insurance
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.07 - Distribution

Current through Register Vol. 42, No. 9, June 28, 2024
A copy of this chapter shall accompany every complaint or
				notice of hearing and a notation of the existence of the rules shall be made in
				the complaint or notice of hearing.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-065 - PROCEDURAL RULES GOVERNING ADMINISTRATIVE HEARINGS › Section 482-1-065-.08 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective upon its approval by the
				Commissioner of Insurance and upon its having been on file as a public document
				in the office of the Secretary of State for ten days.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.01 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is intended to prescribe procedures to be used by
				insurers in handling unclaimed funds which fall under the unclaimed and
				abandoned property laws of Alabama. Many times in the past, insurers took into
				surplus those funds which may be due and owing, but because of inability to
				locate the owner, remain unclaimed.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
The authority for the promulgation of this chapter is under the
				provisions of Sections
				27-2-17 and
				27-36-1(2),
Code of Ala. 1975
.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.03 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
(1) "Unclaimed
			 funds," as used in this chapter, shall mean any funds of whatever nature which
			 are due and owing from an insurer and which are presently or may, in the
			 future, fall under the provisions of the Uniform Disposition of Unclaimed
			 Property Act, in Sections
			 35-12-70 through
			 35-12-96,
Code of Ala.
			 1975
, and shall include all amounts previously tendered to
			 policyholders or other recipients, including third party payees, whether
			 tendered by check or draft and all amounts not actually tendered but deemed due
			 and payable at a specific point in time.
(2) "Insurer," as used in this chapter, shall
			 mean any domestic insurer presently or who may, in the future, hold a
			 Certificate of Authority to conduct the business of insurance in Alabama, as
			 provided under the Alabama Insurance Code and all other domestic companies,
			 non-profit associations and any other domestic organizations under the
			 regulation of the Commissioner of Insurance who are engaged in the business of
			 insurance in Alabama.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.04 - Unclaimed Funds Shall Be Treated As A Liability

Current through Register Vol. 42, No. 9, June 28, 2024
All unclaimed funds in the possession, or under the control of
				an insurer shall, at all times, be maintained as a liability on the books of
				the insurer. This requirement shall remain in effect until the funds are
				claimed or transferred to the custody of the State of Alabama under the
				provisions of the Uniform Disposition of Unclaimed Property
				Act.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.05 - 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.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-066 - TREATMENT OF UNCLAIMED FUNDS BY INSURERS › Section 482-1-066-.06 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall become effective January 1, 2008, 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 (10) days. No
				insurer shall be required to amend any financial statement presently on file
				with the Insurance Department, under the provisions of this chapter, until the
				next date for filing such financial statement as either required by law or
				order of the Commissioner, or his delegated authority.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.01 - Purpose (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.02 - Authority (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority (Repealed):
Code
				  of Ala. 1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.03 - Application For Licensing Must Contain Proper Oath (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.04 - Notarized Signature Implies that Correct Procedure Followed (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.05 - Notice To Applicants (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.06 - Severability (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-067 - OATH REQUIRED FOR APPLICATION FOR LICENSING AS INSURANCE PRODUCER › Section 482-1-067-.07 - Effective Date (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-7-1, et seq., 27-9-3.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-071 - MEDICARE SUPPLEMENT INSURANCE MINIMUM STANDARDS REGULATION › Section 482-1-071-.02 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is issued pursuant to the authority vested in the
				commissioner under Sections
				27-2-17 and
				27-19-50,
et
seq
.,
Code of
				Ala. 1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-19-50
et
seq
.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-071 - MEDICARE SUPPLEMENT INSURANCE MINIMUM STANDARDS REGULATION › Section 482-1-071-.03 - Applicability And Scope

Current through Register Vol. 42, No. 9, June 28, 2024
A. Except as
			 otherwise specifically provided in Sections 7, 13, 14, 17 and 22, this chapter
			 shall apply to:
(1) All Medicare supplement
			 policies delivered or issued for delivery in this State on or after the
			 effective date of this chapter, and
(2) All certificates issued under group
			 Medicare supplement policies which certificates have been delivered or issued
			 for delivery in this State.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-071 - MEDICARE SUPPLEMENT INSURANCE MINIMUM STANDARDS REGULATION › Section 482-1-071-.04 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
For purposes of this chapter:
A. "Applicant" means:
(1) In the case of an individual Medicare
			 supplement policy, the person who seeks to contract for insurance benefits,
			 and
(2) In the case of a group
			 Medicare supplement policy, the proposed certificateholder.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-071 - MEDICARE SUPPLEMENT INSURANCE MINIMUM STANDARDS REGULATION › Section 482-1-071-.05 - Policy Definitions And Terms

Current through Register Vol. 42, No. 9, June 28, 2024
No policy or certificate may be advertised, solicited or issued
				for delivery in this State as a Medicare supplement policy or certificate
				unless such policy or certificate contains definitions or terms which conform
				to the requirements of this section.
A. "Accident," "Accidental Injury," or
			 "Accidental Means" shall be defined to employ "result" language and shall not
			 include words which establish an accidental means test or use words such as
			 "external, violent, visible wounds" or similar words of description or
			 characterization.
(1) The definition shall not
			 be more restrictive than the following: "Injury or injuries for which benefits
			 are provided means accidental bodily injury sustained by the insured person
			 which is the direct result of an accident, independent of disease or bodily
			 infirmity or any other cause, and occurs while insurance coverage is in
			 force."
(2) The definition may
			 provide that injuries shall not include injuries for which benefits are
			 provided or available under any workers' compensation, employer's liability or
			 similar law, or motor vehicle no-fault plan, unless prohibited by
			 law.