Alabama Administrative Code

(1) Forms A, B, C and D are intended to be guides in the preparation of the statements required by Sections 27-29-3, 27-29-4, and 27-29-5. They are not intended to be blank forms which are to be filled in. The statements filed shall contain the numbers and captions of all items, …

(1) Information required by any item of Form A, Form B, Form D, Form E or Form F may be incorporated by reference in answer or partial answer to any other item. Information contained in any financial statement, annual report, proxy statement, statement filed with a governmental a…

(1) Information required need be given only insofar as it is known or reasonably available to the person filing the statement. If any required information is unknown and not reasonably available to the person filing, either because the obtaining thereof would involve unreasonable…

In addition to the information expressly required to be included in Form A, Form B, Form C, Form D, Form E, and Form F, the Commissioner may request such further material information, if any, as may be necessary to make the information contained therein not misleading. The person…

The following definitions shall apply for purposes of this chapter: (1) EXECUTIVE OFFICER. Chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and any other individual performing functions corresponding to those performed b…

The authority to invest in subsidiaries under subsection (b) of Section 27-29-2 is in addition to any authority to invest in subsidiaries which may be contained in any other provision of the Insurance Code. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-055-.09…

A person required to file a statement pursuant to Section 27-29-3 shall furnish the required information on Form A, hereby made a part of this chapter. The person shall also furnish the required information on Form E, hereby made a part of this chapter and described in Rule 482-1…

The applicant shall promptly advise the Commissioner of any changes in the information furnished on Form A arising subsequent to the date upon which the information was furnished but prior to the Commissioner's disposition of the application. Notes Ala. Admin. Code r. 482-1-055-.…

(1) If the person being acquired is deemed to be a "domestic insurer" solely because of the provisions of the Act, the name of the domestic insurer on the cover page should be indicated as follows: "ABC Insurance Company, as subsidiary of XYZ Holding Company." (2) Where an insure…

(1) If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to Section 27-29-3(a)(1), that person shall file a pre-acquisition notification form, Form E, which was developed pursuant to Section 27-29-3.1(c)(1). (2)…

An insurer required to file an annual registration statement pursuant to Section 27-29-4 shall furnish the required information on Form B, hereby made a part of this chapter. Notes Ala. Admin. Code r. 482-1-055-.13 Revised: July 5, 1994; effective July 15, 1994. Filed for codific…

An insurer required to file an annual registration statement pursuant to Section 27-29-4 is also required to furnish information required on Form C, hereby made a part of this chapter. Notes Ala. Admin. Code r. 482-1-055-.14 Revised: July 5, 1994; effective July 15, 1994. Filed f…

(1) An amendment to Form B shall be filed within fifteen (15) days after the end of any month in which there is a material change to the information provided in the annual registration statement. (2) Amendments shall be filed in the Form B format with only those items which are b…

(1) Any authorized insurer may file a registration statement on behalf of any affiliated insurer or insurers which are required to register under Section 27-29-4. A registration statement may include information not required by the Act regarding any insurer in the insurance holdi…

(1) A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information: (a) The nu…

(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…

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. Notes Ala. Admin. Code r. 482-1-055-.18.1 Adopted by Alabama Administrativ…

(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 t…

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 o…

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. Notes Ala. Admin. Code r. 482-1-055-.21 Revised: July 5, 1994; e…

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. Notes Ala. Admin. Code r. 482-1-058-.01 New Rule: February 17, 1975; effective April 1, 1975. Revised: April 27, 2007; eff…

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. Notes Ala. Admin. Code r. 482-1-058-.02 New Rule: February 17, 1975; effective April 1, 1…

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 …

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 an…

(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 …

(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 himse…

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 soliciti…

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. No…

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. Notes Ala. Admin. Code r. 482-1-058-.09 New Rule: February 17, 1975; effective A…

Notes Ala. Admin. Code r. 482-1-059-.01 New Rule: January 12, 1976; effective January 22, 1976. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act. Repealed by Alabama Administra…

Notes Ala. Admin. Code r. 482-1-059-.02 New Rule: January 12, 1976; effective January 22, 1976. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act. Repealed by Alabama Administra…

Notes Ala. Admin. Code r. 482-1-059-.03 New Rule: January 12, 1976; effective January 22, 1976. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act. Repealed by Alabama Administra…

Notes Ala. Admin. Code r. 482-1-059-.04 New Rule: January 12, 1976; effective January 22, 1976. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act. Repealed by Alabama Administra…

Notes Ala. Admin. Code r. 482-1-059-.05 New Rule: January 12, 1976; effective January 22, 1976. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act. Repealed by Alabama Administra…

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 o…

(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 wh…

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 Notes Ala. Admin. Code…

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 Notes Ala. Admin. Code r. 482-1-060-.04 New Rule: February 15, 1977; effective February 2…

This chapter is adopted pursuant to Sections 27-2-17 and 27-14-8, et seq., Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-062-.01 New Rule: Filed February 28, 1977; effective March 10, 1977. Revised: Filed May 26, 2004; effective June 5, 2004…

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 …

(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, an…

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 pr…

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 Notes Ala. Admin. Code r. 482-1-062-.05 New Rule: F…

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 prov…

(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.…

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 it…

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 Notes Ala. Admin. Code r. 482-1-063-.04 New Rule: March 24, 1977; effective April 3, 1977…

(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 expec…

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 Notes Ala. Admin. Code r. 482-1-065-.02 New Rule: June 11, 1979, Effective July 31, 1979. Revised: July 19, 1985, Eff…

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 Depa…