Alabama Administrative 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. 482-1-096-.08 New: September 23, 1996; effective October 3, 199…

This chapter is promulgated by the Commissioner of Insurance pursuant to Section 27-2-17, Code of Alabama 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-097-.01 New: December 19, 2000; effective January 1, 2001. Filed for codification in the Alabama Admin…

The purpose of this chapter is to establish uniform requirements for manual and automated reporting of annual and quarterly statement information for all authorized insurers. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-097-.02 New: December 19, 2000; effecti…

This chapter applies to all authorized insurers, as defined in Section 27-1-2, Code of Alabama 1975, including those insurers required to file an annual statement in accordance with Section 27-3-26, Code of Alabama 1975, as well as health care service plans, health maintenance or…

When submitting required financial reports to the department, all insurers shall use the appropriate NAIC Annual Statement Blank which shall be prepared in accordance with the NAIC Annual Statement Instructions and follow those accounting practices and procedures prescribed by th…

(1) Each authorized foreign insurer shall electronically file with the National Association of Insurance Commissioners (NAIC) on an annual basis on or before March 1 a financial statement containing a full and true statement of its financial condition, market conduct transactions…

The NAIC Financial Examiners Handbook, as it may be updated and amended from time to time so long as the examination methodology remains substantially consistent, is hereby adopted and incorporated by reference. Financial examinations by the Department shall be performed in subst…

Upon written application of any insurer, the Commissioner may grant an exemption from compliance with the electronic filing requirements of this chapter if the Commissioner finds, upon review of the application, that compliance with this chapter would constitute a financial or or…

Upon written application of any insurer, the Commissioner may grant an exemption from compliance with the automated filing requirements of this chapter if the Commissioner finds, upon review of the application, that compliance with this chapter would constitute a financial or org…

Failure to comply with any part of this chapter may result in the suspension or revocation of an authorized insurer's certificate of authority in this state, the assessment of a fine, or by both. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-097-.09 New: Decem…

If any rule or portion of a rule of this chapter or the applicability thereof to any person or circumstance is held invalid by a court, the remainder of the chapter or the applicability of such provision to other persons or circumstances shall not be affected thereby. Author: Com…

This chapter shall become effective January 1, 2001, 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. All authorized insurers shall comply with this chapter for the year …

This chapter is promulgated by the Commissioner of Insurance pursuant to Section 27-2-17, Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-098-.01 New: July 5, 1994; effective July 15, 1994. Filed for codification in the Alabama Administrative …

(1) All securities owned by an insurer shall be valued in accordance with those standards promulgated by the NAIC Capital Markets and Investment Analysis Office (CMIAO). Any security owned by an insurer that has not been valued by the CMIAO shall be submitted to the CMIAO for val…

This chapter shall become effective ten (10) days from the date of certification that the properly executed chapter was delivered to the Secretary of the State Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-098-.03 New: July 5, 1994; effective July 15, 1994. Fi…

This chapter is promulgated by the Commissioner of Insurance pursuant to Section 27-2-17, Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-099-.01 New: July 5, 1994; effective July 15, 1994. Filed for codification in the Alabama Administrative …

The capital and surplus requirements in Sections 27-3-7, 27-27-15, and 27-21A-12, Code of Ala. 1975, are minimums. The Commissioner may require additional capital and/or surplus based upon the type, volume and nature of insurance business transacted, consistent with the provision…

This chapter shall become effective ten (10) days from the date of certification that the properly executed chapter was delivered to the Secretary of the State. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-099-.03 New: July 5, 1994; effective July 15, 1994. F…

Notes Ala. Admin. Code r. 482-1-100-.01

Notes Ala. Admin. Code r. 482-1-100-.02

Notes Ala. Admin. Code r. 482-1-100-.03

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Notes Ala. Admin. Code r. 482-1-100-.05

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Notes Ala. Admin. Code r. 482-1-100-.07

Notes Ala. Admin. Code r. 482-1-100-.08

Notes Ala. Admin. Code r. 482-1-100-.09

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Notes Ala. Admin. Code r. 482-1-100-.17

The purpose of this chapter is to set forth the standards which the Commissioner may use for identifying insurers found to be in such condition as to render the continuance of their business hazardous to their policyholders, creditors or the general public. This chapter shall not…

This chapter is promulgated by the Commissioner of Insurance pursuant to the authority set forth in Sections 27-2-17, 27-2-33, 27-3-21, 27-21A-17 and 27-32-1, et seq., Code of Ala. 1975. Notes Ala. Admin. Code r. 482-1-101-.02 New Rule: July 5, 1994; effective July 15, 1994. File…

The following standards, either singly or a combination of two or more, may be considered by the Commissioner to determine whether the continued operation of any insurer transacting an insurance business in this state might be deemed to be hazardous to its policyholders, creditor…

(1) For the purposes of making a determination of an insurer's financial condition under this chapter, the commissioner may:(a) Disregard any credit or amount receivable resulting from transactions with a reinsurer which is insolvent, impaired or otherwise subject to a delinquenc…

Any order or decision of the commissioner shall be subject to review in accordance with Section 27-2-32, Code of Ala. 1975, at the instance of any party to the proceedings whose interests are substantially affected. Notes Ala. Admin. Code r. 482-1-101-.05 New Rule: July 5, 1994; …

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. Notes Ala. Admin. Cod…

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. Notes Ala. Admin. Code r. 482-1-101-.07 New Rule: July 5, 1994; effective July 15, 1994. Filed for codification in the Alab…

The purpose of this chapter is to require all insurers to file a copy of their annual statement with the National Association of Insurance Commissioners (NAIC). Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-102-.01 New: July 5, 1994; effective July 15, 1994. F…

This chapter is promulgated by the Commissioner of Insurance pursuant to the authority set forth in Sections 27-2-17 and 27-3-26, Code of Ala. 1975. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-102-.02 New: July 5, 1994; effective July 15, 1994. Filed for cod…

The provisions of this chapter shall apply to all domestic, foreign and alien insurers who are authorized to transact business in this state. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-102-.03 New: July 5, 1994; effective July 15, 1994. Filed for codificati…

(1) Each domestic, foreign and alien insurer who is authorized to transact insurance in this state shall annually on or before March 1 of each year, file with the National Association of Insurance Commissioners (NAIC), and pay the fee established by the NAIC for filing, review or…

All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the department by the NAIC's Insurance Regulatory Information System are confidential and may not be disclosed by this department. Author: Commissioner of Insurance Notes A…

Failure to comply with a material provision of this or any chapter is considered a willful violation of a chapter which, pursuant to Section 27-2-17, Code of Ala. 1975, shall be considered a willful violation of a material provision of the Insurance Code, which, pursuant to Secti…

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. 482-1-102-.07 New: July 5, 1994; effective July 15, 1994. Filed…

The purpose of this chapter is to generally set forth the guidelines for conducting financial examinations and the time requirements for filing of reports of examination. Author: Commissioner of Insurance Notes Ala. Admin. Code r. 482-1-103-.01 New: July 5, 1994; effective July 1…