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27-19-31
Section 27-19-31 Renewability. (a) Every individual policy of insurance providing hospital,
medical, or surgical benefits in which an insurer reserves the right to refuse renewal on
an individual basis shall provide, in substance, in a provision thereof, or in an endorsement
thereon or in a rider attached thereto that, subject to the right to terminate the policy
upon nonpayment of premium when due, such right to refuse renewal shall not be exercised before
the renewal date occurring on, or after and nearest, each policy anniversary or, in the case
of lapse and reinstatement, before the renewal date occurring on, or after and nearest, each
anniversary of the last reinstatement and that any refusal of renewal shall be without prejudice
to any claim originating while the policy is in force. Subject to the right to terminate for
nonpayment of premium, the right to refuse renewal by an insurer shall only be exercised after
having given the insured no less than 30 days' notice in writing of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-19-31.htm - 1K - Match Info - Similar pages
27-31B-9
Section 27-31B-9 Reports and statements. (a) Captive insurance companies shall not be required
to make any annual report except as provided in this chapter. (b) Prior to March 1 of each
year, each captive insurance company shall submit to the commissioner a report of its financial
condition, verified by oath of two of its executive officers. Except as provided in Section
27-31B-6, each captive insurance company shall report using statutory accounting principles,
unless the commissioner approves the use of generally accepted accounting principles, with
any useful or necessary modifications or adaptations thereof required or approved or accepted
by the commissioner for the type of insurance and kinds of insurers to be reported upon, and
as supplemented by additional information required by the commissioner. Except as otherwise
provided, each association captive insurance company and each industrial insured captive insurance
company insuring the risks of an industrial insured group...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-9.htm - 3K - Match Info - Similar pages
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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27-6B-2
Section 27-6B-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCREDITED STATE.
A state in which the Department of Insurance meets the minimum financial qualifications and
regulatory standards promulgated and established, from time to time, by the National Association
of Insurance Commissioners. (2) COMMISSIONER. The Commissioner of Insurance. (3) CONTROL or
CONTROLLED. The same as defined in Section 27-29-1. (4) CONTROLLED INSURER. A licensed insurer
who is controlled, directly or indirectly, by a producer. (5) CONTROLLING PRODUCER. A producer
who, directly or indirectly, controls an insurer. (6) LICENSED INSURER or INSURER. Any person,
firm, association, or corporation duly licensed to transact a property and casualty insurance
business in this state. For the purposes of this chapter, the following are not licensed insurers:
a. A residual market pool and a joint...
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32-7A-3
Section 32-7A-3 Powers and duties of department. (a) The department shall administer and enforce
the provisions of this chapter and shall make such reasonable rules and regulations concerning
any matter administered in this chapter and shall provide for hearings upon the request of
persons aggrieved by orders or acts of the department under the provisions of this chapter.
(b) The department may prescribe and provide suitable notices and forms necessary to carry
out the provisions of this chapter. (c) The department: (1) May make necessary investigations
to procure information required to carry out the provisions of this chapter. (2) Shall suspend
the motor vehicle registrations pursuant to the provisions of this chapter. (3) Shall require
insurance companies doing business in this state to regularly report the vehicle identification
numbers covered by their mandatory liability insurance policies in a manner specified by the
department. (4) May operate a pilot program to study the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7A-3.htm - 2K - Match Info - Similar pages
27-12A-1.1
Section 27-12A-1.1 Legislative intent. The Legislature finds that the business of insurance
involves many transactions that have potential for fraud, abuse, and other illegal activities.
This chapter is intended to permit full utilization of the expertise of the Department of
Insurance to investigate, discover, and prosecute insurance fraud and assist and receive assistance
from state, local, and federal law enforcement and regulatory agencies in enforcing laws prohibiting
insurance fraud. (Act 2012-429, p. 1170, ยง1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12A-1.1.htm - 832 bytes - Match Info - Similar pages
27-12A-1
Section 27-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance or his or her designee.
(2) DEPARTMENT. The Alabama Department of Insurance. (3) INSURANCE. As defined in Section
27-1-2, and specifically including any contract, arrangement, or agreement, in which one undertakes
to do any one of the following: a. Pay or indemnify another as to loss from certain contingencies
called risks. b. Pay or grant a specified amount or determinable benefit to another in connection
with ascertainable risk contingencies. c. Pay an annuity to another. d. Act as surety. For
the purposes of this chapter, insurance also includes any health benefit plan as defined in
Section 27-53-1. (4) INSURANCE PRODUCER or PRODUCER. As defined in Section 27-7-1. (5) INSURER.
A person entering into agreements, contracts of insurance, arrangements, or reinsurance, or
a health benefit plan, or a group health plan as...
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27-18-14
Section 27-18-14 Notice as to conversion rights. If any individual insured under a group life
insurance policy hereafter delivered in this state becomes entitled under the terms of such
policy to have an individual policy of life insurance issued to him without evidence of insurability,
subject to making of application and payment of the first premium within the period specified
in such policy, and if such individual is not given notice of the existence of such right
at least 15 days prior to the expiration date of such period, then, in such event, the individual
shall have an additional period within which to exercise such right, but nothing contained
in this section shall be construed to continue any insurance beyond the period provided in
such policy. This additional period shall expire 15 days next after the individual is given
such notice, but in no event shall such additional period extend beyond 60 days next after
the expiration date of the period provided in such policy....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-18-14.htm - 1K - Match Info - Similar pages
27-20-4
Section 27-20-4 Blanket disability insurance - Eligible groups. Blanket disability insurance
is hereby declared to be that form of disability insurance covering groups of persons as enumerated
in one of the following subdivisions: (1) Under a policy or contract issued to any common
carrier or to any operator, owner, or lessee of a means of transportation, who or which shall
be deemed the policyholder, covering a group of persons who may become passengers defined
by reference to their travel status on such common carrier or such means of transportation;
(2) Under a policy or contract issued to an employer, who shall be deemed the policyholder,
covering any group of employees, dependents, or guests, defined by reference to specified
hazards incident to an activity, or activities, or operations of the policyholder; (3) Under
a policy or contract issued to a college, school, or other institution of learning, a school
district or districts, or school jurisdictional unit or to the head,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-20-4.htm - 3K - Match Info - Similar pages
27-31B-22
Section 27-31B-22 Protected cell captive insurance companies. (a) One or more sponsors may
form a protected cell captive insurance company under this chapter. (b) A protected cell captive
insurance company formed or licensed under this chapter may establish and maintain one or
more protected cells to insure risks of one or more participants, subject to all of the following
conditions: (1) Each protected cell shall be accounted for separately on the books and records
of the protected cell captive insurance company to reflect the financial condition and results
of operations of the protected cell, net income or loss, dividends or other distributions
to participants, and other factors as may be provided in the participant contract or required
by the commissioner. (2) The assets of a protected cell shall not be chargeable with liabilities
arising out of any other insurance business the protected cell captive insurance company may
conduct. (3) No sale, exchange, or other transfer of assets...
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