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33-1-25
Section 33-1-25 Port authority authorized to carry fire and casualty and public liability insurance.
The Alabama State Port Authority is hereby authorized to provide insurance covering loss or
damage to its properties, or any properties of others in its custody, care or control, or
any properties as to which it has any insurable interest, caused by fire or other casualty;
and may likewise provide insurance for the payment of damages on account of the injury to
or death of persons, and the loss of or destruction of properties of others; and may pay the
premiums thereon out of the revenues of the port authority. Nothing herein shall be construed
to authorize or permit the institution of any civil action or proceeding in any court against
the port authority for or on account of any matters referred to in this section; provided,
that any contracts of insurance herein authorized may, in the discretion of the director of
the port authority, provide for a direct right of action against the...
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41-9-961
Section 41-9-961 Insurance; civil actions; liability. (a) The commission may provide insurance
covering loss or damage to its properties or any properties of others in its custody, care,
or control, or any properties as to which it has any insurable interest caused by fire or
other casualty and may likewise provide insurance for the payment of damages on account of
the injury to or death of persons and the loss of or destruction of properties of others,
and may pay the premiums out of the revenues of the commission. Nothing in this section shall
be construed to authorize or permit the institution of any civil action or proceeding in any
court against the commission for or on account of any matter referred to in this section;
provided, any contracts of insurance authorized by this section may, in the discretion of
the chair of the commission, provide for a direct right of action against the insurance carrier
for the enforcement of any claims or causes of action. (b) The liability under...
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27-14-19.1
Section 27-14-19.1 Electronic delivery of property or casualty insurance policy. (a) As used
in this section, each of the following words shall have the following meanings: (1) DELIVERED
BY ELECTRONIC MEANS or ELECTRONIC DELIVERY. Any of the following: a. Delivery to an electronic
mail address at which a party has consented to receive notices or documents. b. Posting on
an electronic network or site accessible via the Internet, mobile application, computer, mobile
device, tablet, or any other electronic device, together with separate notice of the posting
which shall be provided 1. by electronic mail to the address at which the party has consented
to receive notice or 2. by any other delivery method that has been consented to by the party.
(2) PARTY. A recipient of any notice or document required as part of an insurance transaction,
including, but not limited to, an applicant, an insured, a policyholder, or an annuity contract
holder. (b) Subject to the requirements of this section,...
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27-15-24
Section 27-15-24 Exclusions and restrictions in life insurance policies. (a) No policy of life
insurance shall be delivered or issued for delivery in this state if it contains any of the
following provisions: (1) A provision for a period shorter than that provided by statute within
which an action may be commenced on such a policy; and (2) A provision which excludes or restricts
liability for death caused in a certain specified manner or occurring while the insured has
a specified status; except, that a policy may contain provisions excluding or restricting
coverage as specified therein in the event of death under any one or more of the following
circumstances: a. Death as a result, directly or indirectly, of war, declared or undeclared,
or of action by military forces, or of any act or hazard of such war or action, or of service
in the military, naval, or air forces or in civilian forces auxiliary thereto, or from any
cause while a member of such military, naval, or air forces of any...
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27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium method.
(a) This section shall apply to all policies issued on or after the operative date of this
section as defined herein. Except as provided in subsection (g), the adjusted premiums for
any policy shall be calculated on an annual basis and shall be such uniform percentage of
the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
27-19-53
Section 27-19-53 Standards for policy provisions; limitations of benefits. (a) The commissioner
shall issue reasonable regulations to establish specific standards for policy provisions of
Medicare supplement policies and certificates. The standards shall be in addition to and in
accordance with applicable laws of this state, including Article 1 and Chapter 20. No requirement
of this title relating to minimum required policy benefits, other than the minimum standards
contained in this article, shall apply to Medicare supplement policies and certificates. The
standards may cover but shall not be limited to the following: (1) Terms of renewability.
(2) Initial and subsequent conditions of eligibility. (3) Nonduplication of coverage. (4)
Probationary periods. (5) Benefit limitations, exceptions, and reductions. (6) Elimination
periods. (7) Requirements for replacement. (8) Recurrent conditions. (9) Definition of terms.
(b) The commissioner may issue reasonable regulations that specify...
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27-19-57.2
Section 27-19-57.2 Additional penalties for violation of article. In addition to any other
applicable penalties for violations of the insurance code, the commissioner may require issuers
violating this article or regulations promulgated pursuant to this article to cease marketing
any Medicare supplement policy or certificate in this state which is related directly or indirectly
to a violation or may require the issuer to take actions necessary to comply with the provisions
of this article, or both. (Act 2000-795, p. 1876, ยง4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-57.2.htm - 842 bytes - Match Info - Similar pages
27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its articles
of association, charter, or other organizational document, may apply to the commissioner for
a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5, in subdivisions
(1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of subsection (a)
of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10, and to grant annuity contracts
as defined in Section 27-5-3, subject, however, to all of the following: (1) No pure captive
insurance company may insure any risks other than those of its parent and affiliated companies
or controlled unaffiliated business. (2) No association captive insurance company may insure
any risks other than those of the member organizations of its association, and their affiliated
companies. (3) No industrial insured captive insurance company may insure any risks other
than those of the industrial insureds that comprise...
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27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
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45-49A-63.101
Section 45-49A-63.101 Insurance premiums. (a) On or before the first day of March of each year,
each insurance company writing fire insurance on property within the city limits and its police
jurisdiction shall pay to the city an amount equal to four percent of its gross premiums,
including all renewal premiums, less return premiums, collected by the company on such policies
in effect during the preceding year in the city and its police jurisdiction. The city shall
credit one-half of this amount to the fund within 30 days of its receipt by the city. The
remaining one-half shall be retained by the city and credited against the insurance companies'
business license obligations. (b) Each such insurance company, on or before the due date of
such payment, shall file with the city finance director a sworn, written statement showing
the gross amount of premiums, including all renewal premiums, less return premiums, received
on such policies during the preceding year. Any insurance company...
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