27-13-63
Section 27-13-63 Rating organizations - Provisions for insurers to become members or subscribers. Every rating organization shall make reasonable provision in its bylaws, rules, constitution, or otherwise to permit any insurer engaged in the kind of insurance for which rate-making is done by such rating organization to become a member or subscriber to its rating services for any kind of insurance, or subdivisions thereof, upon application therefor by such insurer. No rating organization shall discriminate unfairly between insurers in the condition imposed for admission as subscribers or in the services rendered to either members or subscribers. No rating organization shall adopt any rule the effect of which would be to prohibit or regulate the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers. The refusal of any rating organization to admit an insurer as a subscriber shall, at the request of such...
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27-31B-12
Section 27-31B-12 Legal investments. (a) An association captive insurance company, risk retention group, and an industrial insured captive insurance company insuring the risks of an industrial insured group defined in paragraph b. of subdivision (18) of Section 27-31B-2 shall comply with the investment requirements contained in this title, as applicable; provided, however, that compliance with these investment requirements shall be waived for risk retention groups to the extent that credit for risks ceded to reinsurers is allowed pursuant to Section 27-31B-13 or to the extent otherwise deemed reasonable and appropriate by the commissioner. Chapter 37 of this title shall apply to association captives, risk retention groups, and industrial insured captive insurance companies insuring the risks of industrial insured groups defined in paragraph b. of subdivision (18) of Section 27-31B-2 except to the extent it is inconsistent with approved accounting standards in use by the association...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-12.htm - 2K - Match Info - Similar pages
27-5B-8
Section 27-5B-8 Certified reinsurer. (a) Credit shall be allowed when the reinsurance is ceded to an assuming insurer that is certified by the commissioner as a reinsurer in this state and secures its obligations in accordance with the requirements of this section. In order to be eligible for certification, the assuming insurer shall meet all of the following requirements: (1) The assuming insurer must be domiciled and licensed to transact insurance or reinsurance in a qualified jurisdiction, as determined by the commissioner pursuant to subsection (c). (2) The assuming insurer must maintain minimum capital and surplus, or its equivalent, in an amount to be determined by the commissioner pursuant to regulation. (3) The assuming insurer must maintain financial strength ratings from two or more rating agencies deemed acceptable by the commissioner pursuant to regulation. (4) The assuming insurer must agree to submit to the jurisdiction of this state, appoint the commissioner as its agent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-8.htm - 9K - Match Info - Similar pages
27-13-25
Section 27-13-25 Rating organizations - Provisions for insurers to become members or subscribers. Every rating organization shall make reasonable provision in its bylaws, rules, constitution, or otherwise to permit any insurer engaged in the kind of insurance for which rate-making is done by such rating organization to become a member or subscriber thereof upon application therefor by such insurer. An insurer may be a member of, or a subscriber to, more than one rating organization, but not for the purpose of rating the same risk. No insurer shall use any rate or rating systems made by a rating organization of which it is not a member or subscriber or by another insurer. No rating organization shall discriminate unfairly between insurers in the conditions imposed for admission as subscribers or in the services rendered to either members or subscribers. The refusal of any rating organization to admit an insurer as a subscriber shall, at the request of such insurer, be reviewed by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-25.htm - 1K - Match Info - Similar pages
27-13-66
Section 27-13-66 Annual statistical reports of insurers; exchange of information; rules and regulations. Every insurer shall file annually on, or before, July 1, with the rating organization of which it is a member or subscriber, or with such other common agency representing a group of insurers as the department may approve, and with the department a statistical report showing its premiums and its losses on all kinds of insurance to which this article is applicable, together with such other information as the department may deem necessary for the proper determination of the reasonableness and adequacy of rates. Such statistical report filed with the rating organization may be consolidated and filed by such common agency. Such data shall be kept and reports made in such manner and on such forms as may be prescribed by the commissioner. All such annual filings with the department shall be kept under lock and key, and any official or employee of the department who shall divulge the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-66.htm - 2K - Match Info - Similar pages
31-5-7
Section 31-5-7 State Service Commissioner - Duties generally; compensation. (a) The State Service Commissioner shall submit to the State Board of Veterans' Affairs for its approval an annual budget of all funds appropriated by the Legislature to the department for the specific purposes for which they are appropriated, and also a budget of any federal funds which may be allotted to the state by the federal government for the purposes of the department according to the regulations of the federal authorities. He shall publish annually a full report of the operations and administration of the department, together with recommendations and suggestions, and submit such report to the state board. (b) It shall be the duty of the state commissioner to: (1) Prepare detailed plans for, and fully develop, a comprehensive statewide veterans' assistance program. (2) Cooperate with all other heads of the state departments in coordinating the plans and programs of state agencies which may properly be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/31-5-7.htm - 5K - Match Info - Similar pages
27-13-24
Section 27-13-24 Rating organizations - License; application therefor; renewal thereof; fee for same. (a) No rating organization shall do business in this state unless it shall have been licensed to do so by the commissioner. Application for such license shall be made on such forms as the commissioner shall prepare for that purpose. Upon applying for such license, every rating organization shall file with the department: (1) A copy of its constitution, its articles of agreement or association or its certificate of incorporation and of its bylaws or rules governing the conduct of its business or such of the foregoing, if any, as such rating organization may have; (2) A list of insurers who are, or who have agreed to become, members of, or subscribers to, such rating organization; (3) The name and address of a person, or persons, in this state upon whom notices or orders of the commissioner affecting such rating organization may be served; and (4) Such other information as the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-13-24.htm - 3K - Match Info - Similar pages
27-13-62
Section 27-13-62 Rating organizations - License; application therefor; renewal thereof; fee for same. No rating organization shall do business in this state until it shall have been licensed to do so by the commissioner. Application for such license shall be made on such forms as the commissioner shall prepare for that purpose. Upon applying for such license, every rating organization shall file with the department: (1) A copy of its constitution, its articles of agreement or association, or its certificate of incorporation and of its bylaws or rules governing the conduct of its business or such of the foregoing, if any, as such rating organization may have; (2) A list of insurers who are or, who have agreed to, become members of, or subscribers to, such rating organization; (3) The name and address of a person, or persons, in this state upon whom notices or orders of the commissioner affecting such rating organization may be served; and (4) Such other information as the commissioner...
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27-31A-4
Section 27-31A-4 Risk retention groups not chartered in this state. Risk retention groups chartered and licensed in states other than this state and seeking to do business as a risk retention group in this state shall comply with the laws of this state as follows: (1) NOTICE OF OPERATIONS AND DESIGNATION OF COMMISSIONER AS AGENT. a. Before offering insurance in this state, a risk retention group shall submit to the commissioner both of the following: 1. A statement identifying the state or states in which the risk retention group is chartered and licensed as a liability insurance company, charter date, its principal place of business, and other information, including information on its membership, as the commissioner of this state may require to verify that the risk retention group is qualified pursuant to subdivision (11) of Section 27-31A-2. 2. A copy of its plan of operations or feasibility study and revisions of the plan or study submitted to the state in which the risk retention...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-4.htm - 8K - Match Info - Similar pages
27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer shall not be required of any of the following: (1) An officer, director, or employee of an insurer or of an insurance producer, provided that the officer, director, or employee does not receive any commission on policies written or sold to insure risks residing, located, or to be performed in this state and any of the following: a. The officer, director, or employee's activities are executive, administrative, managerial, clerical, or a combination of these, and are only indirectly related to the sale, solicitation, or negotiation of insurance. b. The officer, director, or employee's function relates to underwriting, loss control, inspection, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.2.htm - 4K - Match Info - Similar pages
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