Alabama Insurance Department Adopts Various Regulations; Most Become Effective January 1, 2016

 

Revisions to a number of insurance-related regulations have been adopted by the Alabama Department of Insurance (“ALDOI”), the agency announced on August 21, 2015.  

Below is a listing of each and a corresponding hyperlink to the newly adopted Rule texts.

• Effective January 1, 2016, revisions to Insurance Regulation No. 55 [Chapter 482-3-003] set forth rules and procedural requirements necessary to carry out the provisions of the Alabama Insurance Holding Company System Regulatory Act, Sections 27-29-1, et seq., Code of Alabama 1975.  The revisions will conform Alabama law to the current version of the National Association of Insurance Commissioners’ Insurance Company Holding Company System Model Regulation.  To view Alabama’s Insurance Holding Company System Regulation with Reporting Forms and Instructions, click here.

• Effective August 22, 2015, amendments to Section 4 of Insurance Regulation No. 103 [Rule 482-1-103-.04] set forth the procedures followed for filing an examination report.  The amendments adjust the time within which an examinee can make a written submission or rebuttal to matters contained in an examination report from 20 days to 30 days, consistent with recent changes to Section 27-2-24, Code of Alabama 1975.  To view the Conduct of Examinations and Filing of Reports of Examination, click here.

• Insurance Regulation No. 104 [Chapter 482-1-104], which sets forth the procedures for the distribution and protection of confidential information received by the ALDOI in connection with an examination, has been repealed.  These procedures are now spelled out in Alabama law after recent changes to Section 27-2-24, Code of Alabama 1975.  To view the Rule and request for repeal, click here.

• Amendments to Section 5 of Insurance Regulation No. 109 [Rule 482-1-109-.05] set forth the procedures for the continuation of appointments of producers and service representatives.  The amendments adjust the renewal period and provide for late fees consistent with recent changes to Section 27-4-2, Code of Alabama 1975.  To view the new Rule, which is effective January 1, 2016, click here.

• Effective January 1, 2016, amendments to Section 4 of Insurance Regulation No. 110 [Rule 482-1-110-.04] set forth the procedures for the renewal of licenses for producers and service representatives.  The revisions adjust the renewal timing for business entity producers and adjust the renewal fee consistent with recent changes to Section 27-8A-9, Code of Alabama 1975.  To access the new Rule, click here.

• Amendments to Insurance Regulation No. 147, Renewal of License and Continuing Education for Producers and Service Representatives, become effective on January 1, 2016.  To view the complete text of Regulation No. 147, click here.  Changes include:
  • Section 6 [Rule 482-1-147-.06] sets forth the procedures for the insurance producer examination.  The amendments adjust the examination fees consistent with recent changes to Section 27-4-2, Code of Alabama 1975. 
  • Amendments to Section 8 [Rule 482-1-147-.08] set forth the procedures for applying for a temporary producer license.  The amended Rule adjusts the licensing fees consistent with recent changes to Section 27-4-2, Code of Alabama 1975. 
  • Amendments to Section 10 [Rule 482-1-147-.10] set forth the rules and procedural requirements applicable to appointments for insurance producers and service representatives.  The amendments adjust the appointment fees consistent with recent changes to Section 27-4-2, Code of Alabama 1975. 

• Amendments to Insurance Regulation No. 151, Independent Adjusters, become effective January 1, 2016.  To view the complete text of the revised Regulation No. 151, click here.  Changes include:
  • An amendment to Section 7 [Rule 482-1-151-.07], which sets forth the rules and procedural requirements applicable to the licensing of independent adjusters.  The amendment adjusts the application for license fee consistent with recent changes to Section 27-4-2, Code of Alabama 1975. 
  • An amendment to Section 8 [Rule 482-1-151-.08], which sets forth the rules and procedural requirements applicable to the licensing of apprentice independent adjusters.  The amendment adjusts the application for license fee consistent with recent changes to Section 27-4-2, Code of Alabama 1975. 
  • Amendments to Section 10 [Rule 482-1-151-.10], which sets forth the procedures for the renewal of licenses for independent adjusters.  The amendments adjust the renewal timing for business entity adjusters. 

• Adoption of new Insurance Regulation No. 159 [Chapter 482-1-159], which sets forth the rules and requirements necessary to carry out the Strengthen Alabama Homes program authorized in Sections 27-31E-1, et seq., Code of Alabama 1975.  To view the new Regulation No. 159, which becomes effective on January 1, 2016, click here.

 

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