Title 27 — Title 27

Sections 27-6B-2 to 27-6B-6, inclusive, of this chapter may be cited as the “Alabama Business Transacted With Producer Controlled Property and Casualty Insurer Law.” History: (Acts 1993, No. 93-675, p. 1240, §14.)

As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) ACCREDITED STATE. A state in which the Department of Insurance meets the minimum financial qualifications and regulatory standards pro…

This chapter shall apply to any licensed insurer as defined in Section 27-6B-2, either domiciled in this state or domiciled in a state that is not an accredited state but having in effect a substantially similar law. The Alabama Insurance Holding Company System Regulatory Act, Ch…

(a) Unless there is a written contract between the controlling producer and the insurer approved by the board of directors of the insurer and specifying the responsibilities of each party, a controlled insurer shall not accept business from a controlling producer and a controllin…

The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer. Except that, if the business is placed through a subproducer who is not a controlling prod…

(a) If the commissioner believes that the controlling producer or any other person has not materially complied with this chapter, or any regulation or order promulgated hereunder, after notice and opportunity to be heard, the commissioner may order the controlling producer to cea…