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27-5-7
Section 27-5-7 "Surety insurance" defined. "Surety insurance" includes:
(1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions
of public or private trust; (2) Insurance guaranteeing the performance of contracts, other
than insurance policies, and guaranteeing and executing bonds, undertakings and contracts
of suretyship; and (3) Insurance indemnifying banks, bankers, brokers, financial or moneyed
corporations or associations against loss, resulting from any cause, of bills of exchange,
notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other
valuable papers, documents, money, precious metals, and articles made therefrom, jewelry,
watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss
while the same are being transported in armored motor vehicles or by messenger, but not including
any other risks of transportation or navigation; also, insurance against loss or damage to
such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5-7.htm - 1K - Match Info - Similar pages
27-14-6
Section 27-14-6 Application for policy - Requirement; reliance by insurer; admissibility into
evidence; alterations. (a) No life or disability insurance contract upon an individual, except
a contract of group life insurance or of group or blanket disability insurance, shall be made
or effectuated unless at the time of the making of the contract the individual insured, being
of competent legal capacity to contract, applies therefor or has consented thereto, except
in the following cases: (1) A spouse may effectuate such insurance upon the other spouse;
(2) Any person having an insurable interest in the life of a minor or any person upon whom
a minor is dependent for support and maintenance may effectuate insurance upon the life of,
or pertaining to, such minor; and (3) Family policies may be issued insuring any two or more
members of a family on an application signed by either parent, a stepparent or by a husband
or wife; (b) An insurer shall be entitled to rely upon all statements,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-6.htm - 2K - Match Info - Similar pages
34-15-13
Section 34-15-13 Safe depository for valuable articles - Conditional liability. Such hotel
as shall maintain a safe depository and display notice as is required by Section 34-15-12
shall, in no event and under no circumstances or conditions, be liable in any amount for any
loss, damage, or destruction of the valuables of a guest by theft, burglary, fire, or by any
other cause whatsoever, whether or not of a nature enumerated above, if the valuables shall
not have been left with the hotel, its clerk or agent for deposit in the safe depository.
Whenever the phrase "loss, damage, or destruction by theft or otherwise" is used
in this chapter, it shall include any loss, damage, or destruction of the valuables, baggage,
or property of a guest, as the case may be, by theft, burglary, fire, or by any other cause
whatsoever, whether or not of a nature enumerated above. If a hotel maintains a safe depository
and valuables are left by a guest with the hotel, its clerk or agent for deposit in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-15-13.htm - 3K - Match Info - Similar pages
19-3A-407
Section 19-3A-407 Insurance policies and similar contracts. (a) Except as otherwise provided
in subsection (b), a fiduciary shall allocate to principal the proceeds of a life insurance
policy or other contract in which the trust or its fiduciary is named as beneficiary, including
a contract that insures the trust or its fiduciary against loss for damage to, destruction
of, or loss of title to a trust asset. The fiduciary shall allocate dividends on an insurance
policy to income if the premiums on the policy are paid from income, and to principal if the
premiums are paid from principal. (b) A fiduciary shall allocate to income proceeds of a contract
that insures the fiduciary against loss of occupancy or other use by an income beneficiary,
loss of income, or, subject to Section 19-3A-403, loss of profits from a business. (c) This
section does not apply to a contract to which Section 19-3A-409 applies. (Act 2000-675, p.
1343, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-407.htm - 1K - Match Info - Similar pages
27-14-7
Section 27-14-7 Application for policy - Representations and misrepresentations, etc. (a) All
statements and descriptions in any application for an insurance policy or annuity contract,
or in negotiations therefor, by, or in behalf of, the insured or annuitant shall be deemed
to be representations and not warranties. Misrepresentations, omissions, concealment of facts
and incorrect statements shall not prevent a recovery under the policy or contract unless
either: (1) Fraudulent; (2) Material either to the acceptance of the risk or to the hazard
assumed by the insurer; or (3) The insurer in good faith would either not have issued the
policy or contract, or would not have issued a policy or contract at the premium rate as applied
for, or would not have issued a policy or contract in as large an amount or would not have
provided coverage with respect to the hazard resulting in the loss if the true facts had been
made known to the insurer as required either by the application for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-7.htm - 1K - Match Info - Similar pages
27-16-17
Section 27-16-17 Policy provisions - Prohibited provisions. No policy of industrial life insurance
shall contain any of the following provisions: (1) A provision by which the insurer may deny
liability under the policy for the reason that the insured has previously obtained other insurance
from the same insurer; (2) A provision giving the insurer the right to declare the policy
void because the insured has had any disease or ailment, whether specified or not, or because
the insured has received institutional, hospital, medical, or surgical treatment or attention,
except a provision which gives the insurer the right to declare the policy void if the insured
has, within two years prior to the issuance of the policy, received institutional, hospital,
medical, or surgical treatment or attention and if the insured or claimant under the policy
fails to show that the condition occasioning such treatment or attention was not of a serious
nature or was not material to the risk; or (3) A...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-16-17.htm - 1K - Match Info - Similar pages
27-19-22
Section 27-19-22 Optional policy provisions - Relation of earnings to insurance. (a) There
may be a provision as follows: "Relation of Earnings to Insurance: If the total monthly
amount of loss of time benefits promised for the same loss under all valid loss of time coverage
upon the insured, whether payable on a weekly or monthly basis, shall exceed the monthly earnings
of the insured at the time disability commenced or his average monthly earnings for the period
of two years immediately preceding a disability for which claim is made, whichever is the
greater, the insurer will be liable only for such proportionate amount of such benefits under
this policy as the amount of such monthly earnings or such average monthly earnings of the
insured bears to the total amount of monthly benefits for the same loss under all such coverage
upon the insured at the time such disability commences and for the return of such part of
the premiums paid during such two years as shall exceed the pro rata...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-22.htm - 2K - Match Info - Similar pages
27-23-20
Section 27-23-20 Definitions. For the purposes of this article, the following terms shall have
the meanings respectively ascribed to them by this section: (1) POLICY OF AUTOMOBILE LIABILITY
INSURANCE. A policy delivered, or issued for delivery, in this state insuring a natural person
as named insured or one or more related individuals, resident of the same household, and under
which the insured vehicles therein designated are of the following types only: a. A motor
vehicle of the private passenger or station type that is not used as a public or livery conveyance
for passengers nor rented to others; or b. Any other four-wheel motor vehicle with a load
capacity of 1,500 pounds or less which is not used in the occupation, profession, or business
of the insured; provided, however, that this article shall not apply: 1. To policies of automobile
liability insurance issued under an automobile assigned risk plan; 2. To any policy insuring
more than four automobiles; nor 3. To any policy...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-23-20.htm - 2K - Match Info - Similar pages
27-32-30
Section 27-32-30 Claims upon liquidation of insurer - Allowance. (a) No contingent and unliquidated
claim shall share in a distribution of the assets of an insurer which has been adjudicated
to be insolvent by an order made pursuant to this chapter; except, that such claim shall be
considered, if properly presented, and may be allowed to share where: (1) Such claim becomes
absolute against the insurer on or before the last day for filing claims against the assets
of such insurer; or (2) There is a surplus and the liquidation is thereafter conducted upon
the basis that such insurer is solvent. (b) Where an insurer has been so adjudicated to be
insolvent, any person who has a cause of action against an insured of such insurer under a
liability insurance policy issued by such insurer shall have the right to file a claim in
the liquidation proceeding, regardless of the fact that such claim may be contingent, and
such claim may be allowed: (1) If it may be reasonably inferred from the proof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-30.htm - 2K - 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
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