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27-40-9
Section 27-40-9 Service charges; prepayment of obligation. (a) For the purpose of this section,
"consumer insurance premium finance agreement" means an insurance premium finance
agreement as defined in Section 27-40-1 wherein the insurance contracts which are the subject
of the premium finance agreement are for personal, family, or household purposes or where
the premiums for those agreements are two thousand dollars ($2,000) or less. For the purpose
of this section, "commercial premium finance agreement" means any insurance premium
finance agreement other than a consumer premium finance agreement. (b) A premium finance company
shall not charge, contract for, receive, or collect a service charge other than in accordance
with the following provisions: (1) The service charge is to be computed on the balance of
the premium due, after subtracting the down payment made by the insured in accordance with
the premium finance agreement, from the effective date of the insurance for which the...
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27-44-12
Section 27-44-12 Duties of commissioner and board with regard to detection and prevention of
insolvencies or impairment. To aid in the detection and prevention of insurer insolvencies
or impairment: (1) It shall be the duty of the commissioner: a. To notify the commissioners
of those states, territories of the United States and the District of Columbia where such
member company is licensed when he takes any of the following actions against a member insurer:
1. Revocation of license; 2. Suspension of license; 3. Makes any formal order that such company
restrict its premium writing or obtain additional contributions to capital or surplus. Such
notice shall be mailed to all commissioners within 30 days following the action taken or the
date on which such action occurs. b. To report to the board of directors when he has taken
any of the actions set forth in paragraph a. of this subdivision or has received a report
from any other commissioner indicating that any such action has been taken...
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10A-20-6.16
Section 10A-20-6.16 Applicability of insurance laws. (a) No statute of this state applying
to insurance companies shall be applicable to any corporation organized under this article
and amendments thereto or to any contract made by the corporation; except the corporation
shall be subject to the following: (1) The provisions regarding annual premium tax to be paid
by insurers on insurance premiums. (2) Chapter 55 of Title 27. (3) Article 2 and Article 3
of Chapter 19 of Title 27. (4) Section 27-1-17. (5) Chapter 56 of Title 27. (6) Rules promulgated
by the Commissioner of Insurance pursuant to Sections 27-7-43 and 27-7-44. (7) Chapter 54
of Title 27. (8) Chapter 57 of Title 27. (9) Chapter 58 of Title 27. (10) Chapter 59 of Title
27. (11) Chapter 54A of Title 27. (12) Chapter 12A of Title 27. (13) Chapter 2B of Title 27.
(14) Chapter 29 of Title 27. (15) Chapter 62 of Title 27. (b) The provisions in subsection
(a) that require specific types of coverage to be offered or provided shall...
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27-3-21
Section 27-3-21 Suspension or revocation of certificates - Additional grounds; notice and hearing.
(a) The commissioner may, in his discretion, suspend or revoke an insurer's certificate of
authority if, after a hearing thereon, he finds that the insurer has willfully violated any
material provision of this title other than those for which suspension or revocation is mandatory
or has failed to pay applicable taxes with respect to a preceding calendar year as required
by this title. (b) The commissioner shall, after a hearing thereon, suspend or revoke an insurer's
certificate of authority if he finds that the insurer: (1) Is in unsound condition, or is
in such condition or is using such methods and practices in the conduct of its business as
to render its further transaction of insurance in this state hazardous to its policyholders
or to the public; (2) Has refused to be examined or to produce its accounts, records, and
files for examination or if any of its officers or agents have...
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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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27-36-2
Section 27-36-2 Unearned premium reserve - Title insurance. (a) In addition to an adequate
reserve as to outstanding losses as required under Section 27-36-1, a title insurer shall
maintain an unearned premium reserve of not less than an amount computed as follows: (1) Ten
percent of the total amount of the risk premiums written in the calendar year for title insurance
contracts shall be assigned originally to the reserve; and (2) During each of the 20 years
next following the year in which the title insurance contract was issued, the reserve applicable
to the contract shall be reduced by five percent of the original amount of such reserve. (b)
The insurer may credit upon the reserve provided for by this section the amount of its deposit
made under Section 27-3-13. (c) Title insurance risk premium shall not include charges for
abstracting, record searching, certificates as to the record title, escrow and closing services,
and other related services which may be offered or furnished, or...
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8-32-5
Section 8-32-5 Required provisions, service contracts. (a) Service contracts sold or offered
for sale in this state, in their entirety, shall be written, printed, or typed in eight point
type size, or larger, and shall comply with the requirements set forth in this section, as
applicable. (b) Service contracts insured under a reimbursement insurance policy pursuant
to subdivision (1) of subsection (f) of Section 8-32-3 shall contain a statement in substantially
the following form: "Obligations of the provider under this service contract are guaranteed
under a service contract reimbursement insurance policy." If the provider fails to pay
or to provide service on a claim within 60 days after proof of loss has been filed, the service
contract holder is entitled to make a claim directly against the reimbursement insurance company.
The service contract shall state the name and address of the reimbursement insurance company.
(c) Service contracts not insured under a reimbursement insurance...
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27-20-5
Section 27-20-5 Blanket disability insurance - Power to issue; filing requirement; mandatory
policy provisions. Any insurer authorized to write disability insurance in this state shall
have the power to issue blanket disability insurance. No such blanket policy may be issued
or delivered in this state unless a copy of the form thereof shall have been filed in accordance
with Section 27-14-8. Every such blanket policy shall contain provisions which, in the opinion
of the commissioner, are at least as favorable to the policyholder and the individual insured
as the following: (1) A provision that the policy, including endorsements and a copy of the
application, if any, of the policyholder and the persons insured shall constitute the entire
contract between the parties, and that any statement made by the policyholder or by a person
insured shall, in absence of fraud, be deemed a representation and not a warranty and that
no such statements shall be used in defense to a claim under the...
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27-4A-2
Section 27-4A-2 Definitions. For the purposes of this chapter only, the following terms, unless
the context clearly indicates otherwise, shall have the meanings: (1) ANNUITY CONSIDERATIONS.
All sums received as consideration for annuity contracts. (2) COMMISSIONER. The Commissioner
of Insurance of the State of Alabama. (3) DEPARTMENT. The Department of Insurance of the State
of Alabama. (4) DOMESTIC INSURER. Any insurer organized under the laws of the State of Alabama
which maintains its principal office and chief place of business in the State of Alabama.
(5) FOREIGN INSURER. Any insurer organized under the laws of any country or of any state of
the United States other than the State of Alabama and any insurer organized under the laws
of Alabama which maintains its principal office or chief place of business outside the State
of Alabama. (6) INSURER. Every insurer as defined in Section 27-1-2, and every other insurance
company or association charging a premium for contracts entered...
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32-7A-2
Section 32-7A-2 Definitions. (a) For the purposes of this chapter, the following terms shall
have the following meanings respectively ascribed to them in this section, except in those
instances where the context clearly indicates a different meaning: (1) CERTIFICATE OF INSURANCE.
A document issued by an insurer or its authorized representative showing that a specific vehicle
is insured for no less than the minimum limits of liability coverage for bodily injury or
death and for destruction of property under subsection (c) of Section 32-7-6. (2) COMMERCIAL
AUTOMOBILE LIABILITY INSURANCE POLICY. An insurance policy that: a. Is written on either a
commercial coverage or other commercially rated personal policy form, including, but not limited
to, a commercial auto, garage, or truckers form, and is not dependent on the type, number,
or ownership of vehicle or entity covered or insured. b. Insures vehicles that are not identified
individually by vehicle identification number on the policy....
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