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27-15-25
Section 27-15-25 Contestability of reinstated policies. A reinstated policy of life insurance
or annuity contract may be contested on account of fraud or misrepresentation of facts material
to the reinstatement only for the same period following reinstatement and with the same conditions
and exceptions as the policy provides with respect to contestability after original issuance.
(Acts 1967, No. 181, p. 543; Acts 1971, No. 407, p. 707, §370.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-25.htm - 754 bytes - Match Info - Similar pages
27-1-17
Section 27-1-17 Limitation periods for payment of claims; overdue claims; retroactive denials,
adjustments, etc.; penalties. (a) Each insurer, health service corporation, and health benefit
plan that issues or renews any policy of accident or health insurance providing benefits for
medical or hospital expenses for its insured persons shall pay for services rendered by Alabama
health care providers within 45 calendar days upon receipt of a clean written claim or 30
calendar days upon receipt of a clean electronic claim. If the insurer, health service corporation,
or health benefit plan is denying or pending the claim, the insurer, health service corporation,
or health benefit plan shall, within 45 calendar days for a written claim and 30 calendar
days for an electronic claim, notify the health care provider or certificate holder of the
reason for denying or pending the claim and what, if any, additional information is required
to process the claim. Any undisputed portion of the claim...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-17.htm - 17K - Match Info - Similar pages
27-43-10
Section 27-43-10 Types of legal expense insurance; policy and certificate forms; issuance of
policies and certificates. (a) Legal expense insurance may be written as individual, group,
blanket, or franchise insurance. Each contractual obligation for legal expense insurance must
be evidenced by a policy. Each person insured under a group policy must be issued a certificate
of coverage. (b) No policy or certificate of legal expense insurance may be issued in this
state unless a copy of the form has been filed and approved by the commissioner. (c) The commissioner
may not approve any form that does not meet the following requirements: (1) Policies must
contain a list and description of the legal service payments promised or the legal matters
for which expenses are to be reimbursed and any limits on the amounts to be paid or reimbursed;
(2) Policies and certificates must indicate the name of the insurer and the full address of
its principal place of business; (3) Certificates issued under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-10.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-5.htm - 4K - Match Info - Similar pages
27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
27-19-105
Section 27-19-105 Regulations for long-term care policies; outline of coverage, policy summary,
and monthly report. (a) The commissioner may adopt regulations that include standards for
full and fair disclosure setting forth the manner, content, and required disclosures for the
sale of long-term care insurance policies, terms of renewability, initial and subsequent conditions
of eligibility, nonduplication of coverage provisions, coverage of dependents, preexisting
conditions, termination of insurance, continuation or conversion, probationary periods, limitations,
exceptions, reductions, elimination periods, requirements for replacement, recurrent conditions,
and definitions of terms. Regulations under this subsection should recognize the developing
and unique nature of long-term care insurance and the distinction between group and individual
long-term insurance policies. (b) No long-term care insurance policy may do any of the following:
(1) Be cancelled, nonrenewed, or otherwise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-105.htm - 11K - Match Info - Similar pages
27-3-2
Section 27-3-2 Certificate of authority - Exceptions - Generally. A certificate of authority
shall not be required of an insurer with respect to the following: (1) Transactions relative
to its policies lawfully written in this state or liquidation of assets and liabilities of
the insurer, other than collection of new premiums, all as resulting from its former authorized
operations in this state; (2) Transactions thereunder subsequent to issuance of a policy covering
only subjects of insurance not resident, located, or expressly to be performed in this state
at time of issuance and lawfully solicited, written, or delivered outside this state; (3)
Transactions pursuant to surplus lines coverages lawfully written under Chapter 10 of this
title; and (4) Reinsurance. (Acts 1971, No. 407, p. 707, §49.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-2.htm - 1K - Match Info - Similar pages
27-27-16
Section 27-27-16 Domestic mutual insurers - Bond or deposit in lieu thereof. (a) Before soliciting
any applications for insurance required under Section 27-27-15, as qualification for the original
certificate of authority, the incorporators of the proposed mutual insurer shall file with
the commissioner a corporate surety bond in the penalty of $15,000.00 in favor of the State
of Alabama and for the use and benefit of the state and of applicant members and creditors
of the corporation. The bond shall be conditioned as follows: (1) Upon payment of any loss
suffered by applicants who have cancelled or lapsed existing insurance policies due to misrepresentation
by the incorporators or by persons soliciting such applications under authorization by the
corporation, to the effect that the making of such application for insurance and prepayment
of premiums in such proposed insurer provides insurance protection prior to issuance of a
certificate of authority to such insurer by the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-16.htm - 2K - Match Info - Similar pages
27-12-13
Section 27-12-13 Life, annuity, and disability insurance - Exceptions to discrimination, rebates,
or special inducements. Nothing in Sections 27-12-11 and 27-12-12 shall be construed as including
within the definition of discrimination, rebates, or special inducements any of the following
practices: (1) In the case of any contract of life insurance or annuity, paying bonuses to
policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated
from nonparticipating insurance, provided, that any such bonuses or abatement of premiums
is fair and equitable to policyholders and for the best interests of the insurer and its policyholders;
(2) In the case of life or disability insurance policies issued on the industrial debit or
weekly premium plan, making allowance to policyholders who have continuously for a specified
period made premium payments directly to an office of the insurer in an amount which fairly
represents the saving in collection expense; (3)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12-13.htm - 2K - Match Info - Similar pages
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