Alabama Administrative Code

(1) For purposes of this rule the following definitions apply: (a) "Qualified long-term care services" means services that meet the requirements of Section 7702(c)(1) of the Internal Revenue Code of 1986, as amended, as follows: necessary diagnostic, preventive, therapeutic, cura…

(1) This rule shall apply as follows: (a) Except as provided in Paragraph (b), this rule applies to any long-term care policy or certificate issued in this state on or after July 1, 2006. (b) For certificates issued on or after the effective date of this amended regulation under …

(1) This rule applies to any long-term care policy issued in this state on or after July 1, 2006. (2) An insurer shall provide the information listed in this paragraph to the commissioner [30 days] prior to making a long-term care insurance form available for sale. (a) A copy of …

(1) This rule shall apply as follows: (a) Except as provided in Rule 482-1-091-.30(1)(b), this rule applies to any long-term care policy or certificate issued in this state on or after July 1, 2006. (b) For certificates issued on or after the effective date of this amended chapte…

In addition to any other penalties provided by the laws of this state any insurer and any agent found to have violated any requirement of this state relating to the regulation of long-term care insurance or the marketing of such insurance shall be subject to a fine of up to three…

(1) A producer is not authorized to sell, solicit or negotiate with respect to long-term care insurance except as authorized by Section 27-19-100 et seq., Code of Ala. 1975. (2) (a) An individual who is newly licensed as a producer on or after March 1, 2009, may not sell, solicit…

(1) An insurer shall notify policyholders of the availability of a new long-term care policy series that provides coverage for new long-term care services or providers material in nature and not previously available through the insurer to the general public. The notice shall be p…

(1) (a) Every long-term care insurance policy and certificate shall include a provision that allows the policyholder or certificateholder to reduce coverage and lower the policy or certificate premium in at least one of the following ways: 1. Reducing the maximum benefit; or 2. a…

If any provision of this chapter or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the chapter and the application of such provision to other persons or circumstances shall not be affected thereby. Author: Reyn Norman,…

This chapter shall become effective on January 1, 2006, 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: Reyn Norman, Associate Counsel Notes Ala. Admin. Code r.…

This chapter is designed to stimulate open competition among insurers to provide property and involuntary unemployment insurance coverage in the credit context at rates which are not unfairly discriminatory or excessive. Where such insurance is sold by a creditor in connection wi…

This chapter shall apply to the sale of the designated types of insurance by a creditor to a debtor with a direct charge to the debtor. Author: Vincent R. Ledlow, Associate Counsel Notes Ala. Admin. Code r. 482-1-093-.02 New Rule: June 12, 1992; effective June 22, 1992; Amended: …

As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (a) LOAN. The extension of credit for household, personal or family use. (b) DEALER. Any person who makes loans for household, personal or…

All sales of insurance within the scope of this chapter must be made through producers licensed in accordance with Chapter 482-1-111. Author: Vincent R. Ledlow, Associate Counsel Notes Ala. Admin. Code r. 482-1-093-.04 New Rule: June 12, 1992; effective June 22, 1992; Amended: Oc…

The insurer must deliver to the insured within seventy-five (75) days of the extension of credit, a copy of the policy or the certificate of insurance. This may be done directly or through the insurer's producer in the credit institution. Author: Vincent R. Ledlow, Associate Coun…

Each insurer shall grant, and no insurer or affiliated producer shall deny, any insured the full and free exercise of the following rights: (a) The consumer shall not be required or coerced to obtain insurance from any particular insurer nor through any particular producer or rep…

No insurance sold within the scope of this chapter may exceed in amount of coverage the amount of indebtedness on the underlying loan nor exceed in duration the scheduled term of the underlying loan. Household contents may be insured at their replacement cost up to the original a…

No insurer may issue a policy covering security for a loan made under the regulatory authority of the Mini Code which exceeds the replacement values of the property given as security for the loan or covering security for such a loan. If the insured elects to cancel a policy sold …

(1) No insurer may write coverage in which the amount of coverage exceeds the replacement cost of the goods insured. (2) No insurer may pay a dealer or by contract grant a dealer's interest in the affiliated property insurance which exceeds the original indebtedness under the con…

(a) Credit Property Insurance, other than Involuntary Unemployment Insurance. It shall be presumed in any review of rates filed with the commissioner that the benefits are reasonable in relation to the premium charged if the premium rates do not exceed those contained in Exhibit …

Each insurance company writing credit property insurance and/or involuntary unemployment insurance, as defined in this chapter, shall report all such insurance premium, expense, and loss information separately in the Credit Insurance Experience Exhibit of the annual statement or …

Each insurance company writing credit property insurance and/or involuntary unemployment insurance shall submit a filing demonstrating that its rates comply with the rating standard in Rule 482-1-093-.10 no less than every three years. If the last approved rate filing of the insu…

If any provision of any rule of this chapter or application to any person or circumstance is held invalid, such invalidity shall not affect other provisions of that rule or application of the chapter which can be given effect without the invalid provisions or application and to t…

The provisions of this chapter, as revised, 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. The revisions shall apply to policies sold after Decem…

The purpose of this chapter is to establish the procedures and guidelines for the approval of surplus notes as authorized under Section 27-27-40, Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-094-.01 New: December 18, 1992; effective January…

This chapter is made and promulgated by the undersigned Commissioner of Insurance pursuant to the authority set forth in Sections 27-2-7 and 27-2-17, Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-094-.02 New: December 18, 1992; effective Jan…

The provisions of this chapter shall apply to surplus notes issued on or after the effective date hereof. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-094-.03 New: December 18, 1992; effective January 1, 1993. Filed for codification in the Alabama Administrat…

The following words and terms, when used in this chapter, shall have the following meaning, unless the context clearly indicates otherwise. (a) Insurer. Any domestic stock or mutual insurer, as defined in Section 27-27-1, including mutual aid associations and fraternal benefit so…

(1) The issuance of a surplus note shall not be utilized to initially capitalize an insurer, other than a mutual insurer, a reciprocal or interinsurance exchange, or a captive insurer. (2) The consideration received by an insurer in return for the issuance of surplus note shall b…

When issuing a surplus note, the insurer must execute a written agreement with the creditor, providing the following: (a) The creditor may be paid only out of the portion of the insurer's surplus that exceeds the minimum surplus stated in the agreement; (b) The minimum surplus or…

(1) All surplus notes issued by an insurer are subject to the prior approval of the Commissioner, regardless of amount, and shall be filed at least 30 days prior to the proposed date of the loan. (2) The payment of interest or repayment of principal is subject to the prior approv…

(1) All financial statements published by any insurer or filed with the Commissioner must show as a liability that portion of the insurer's surplus that exceeds the minimum surplus as defined in the written agreement to the extent of the unpaid principal balance thereon. (2) All …

If any provision of this chapter or the application thereto to any person or circumstance is for any reason held to be invalid, the remainder of the chapter and the application of such provision to other persons or circumstance shall not be affected thereby. Author: Commissioner …

This chapter shall become effective on January 1, 1993. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-094-.10 New: December 18, 1992; effective January 1, 1993. Filed for codification in the Alabama Administrative Code by the Department of Insurance on Novembe…

Notes Ala. Admin. Code r. 482-1-095-.01

Notes Ala. Admin. Code r. 482-1-095-.02

Notes Ala. Admin. Code r. 482-1-095-.03

Notes Ala. Admin. Code r. 482-1-095-.04

Notes Ala. Admin. Code r. 482-1-095-.05

Notes Ala. Admin. Code r. 482-1-095-.06

Notes Ala. Admin. Code r. 482-1-095-.07

Notes Ala. Admin. Code r. 482-1-095-.08

Notes Ala. Admin. Code r. 482-1-095-.09

The authority for the promulgation of this chapter is under the provision of Sections 27-2-17 and 27-10-1, et seq., Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-096-.01 New: September 23, 1996; effective October 3, 1996. Filed for codificat…

This chapter is to carry out the provisions of the Unauthorized Insurers and Surplus Lines Act, Section 27-10-1, et seq., Code of Ala. 1975, to the extent applicable to alien insurers, by promoting the following purposes: (a) Protecting persons seeking insurance in this state; an…

As used in this chapter: (a) Alien insurer. An insurer formed under the laws of any other country other than the United States of America, its states, district, territory and commonwealths which does not hold a certificate of authority to engage in insurance transactions in this …

Surplus lines insurance may be placed with alien insurers only if the insurer: (a) Has established satisfactory evidence of good repute and financial integrity. (b) Is authorized as an insurer to insure risks in its country of domicile; has transacted insurance under such authori…

(1) The following shall be the minimum considerations for determining the financial soundness of an alien surplus lines insurer: (a) The value of any assets to be considered in the determination of financial soundness shall be readily ascertainable. (b) The language contained in …

(1) The Commissioner may require the submission of audited financial statements. Such statements shall be certified by an independent certified or chartered public accountant licensed and in good standing with all jurisdictions in which the accountant is licensed to practice. (2)…

If any provision of this chapter or the application thereof to any person or circumstances is for any reason held to be invalid, the remainder of this chapter and the application of such provision to other persons or circumstances shall not be affected thereby. Author: Commission…