27-12A-21
Section 27-12A-21 Mandatory reporting requirements. (a) Persons engaged in the business of
insurance, having knowledge or a reasonable belief that insurance fraud is being, will be,
or has been committed, shall provide to the department such information that is required by,
and in a manner prescribed by, the department. As used in this section, persons engaged in
the business of insurance refers only to those entities defined in Section 27-12A-1(5) which
hold a certificate of authority from the commissioner. (b) A person other than an insurer
having knowledge or having a reasonable belief that insurance fraud is being, will be, or
has been committed may provide the information to the Attorney General, the department, or
both. (Act 2012-429, p. 1170, §2.)...
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27-29-6
Section 27-29-6 Registered insurers - Examination of records, etc., of insurer or affiliates.
(a) Subject to the limitation contained in this section and in addition to the powers which
the commissioner has under Sections 27-2-7, 27-2-21, 27-2-23, and 27-2-26, relating to the
examination of insurers, the commissioner shall also have the power to examine any insurer
registered under Section 27-29-4 and its affiliates to ascertain the financial condition of
the insurer, including the enterprise risk to the insurer by the ultimate controlling party,
by any entity or combination of entities within the insurance holding company system, or by
the insurance holding company system on a consolidated basis. (b)(1) The commissioner may
order any insurer registered under Section 27-29-4 to produce such records, books, or other
information papers in the possession of the insurer or its affiliates as are reasonably necessary
to determine compliance with this title. (2) To determine compliance with...
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27-31B-11
Section 27-31B-11 Grounds and procedures for suspension or revocation of license. (a) The license
of a captive insurance company to do an insurance business in this state may be suspended
or revoked by the commissioner for any of the following reasons: (1) Insolvency or impairment
of capital or surplus. (2) Failure to meet the requirements of Section 27-31B-6. (3) Refusal
or failure to submit an annual report, as required by Section 27-31B-9, or any other report
or statement required by law or by lawful order of the commissioner. (4) Failure to comply
with its own charter, bylaws, or other organizational document. (5) Failure to submit to examination
or any legal obligation relative thereto, as required by Section 27-31B-10. (6) Refusal or
failure to pay the cost of examination, as required by Section 27-31B-10. (7) Use of methods
that, although not otherwise specifically prohibited by law, nevertheless render its operation
detrimental or its condition unsound with respect to the...
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2-17-24
Section 2-17-24 Conduct of investigations and requirement of reports as to organization, business,
practices, etc., of persons, firms, etc., engaged in intrastate commerce by commissioner;
access to copying, etc., of documentary evidence; powers of commissioner as to witnesses generally;
issuance of subpoenas and orders for taking of depositions; enforcement of subpoenas and orders
of commissioner, etc., generally; fees of witnesses, etc.; witnesses not to be excused from
testifying on grounds of self-incrimination; immunity from prosecution of witnesses as to
matters, etc., upon which compelled to testify. (a) The commissioner shall also have power:
(1) To gather and compile information concerning and to investigate from time to time the
organization, business, conduct, practices and management of any person, firm or corporation
engaged in intrastate commerce and the relation thereof to other persons, firms and corporations;
(2) To require, by general or special order, persons, firms...
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27-11-2
Section 27-11-2 Prohibition against transaction of insurance business, etc., in state without
license; exceptions. It shall be unlawful for any insurer to transact the business of insurance
in this state or to enter into a contract for insurance in this state without first obtaining
a license or certificate of authority from the commissioner. This unauthorized insurers law
shall not apply to: (1) Contracts of insurance procured pursuant to the surplus line insurance
law; (2) Transactions in this state involving contracts of insurance lawfully entered into,
written and the policy delivered outside of this state covering subjects of insurance not
resident, located or expressly to be performed in this state at the time of issuance and transactions
subsequent to the making of such contract and the issuance of such policy; (3) Reinsurance
contracts; (4) Transactions in this state involving group or blanket insurance and group annuities
where the master policy or contract was lawfully issued...
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27-17A-15
Section 27-17A-15 Examination by commissioner. (a) The commissioner shall, as often as he or
she may deem necessary, examine the business of any person writing preneed contracts under
this chapter to the extent applicable. The examination shall be made by designated representatives
or examiners of the Department of Insurance. (b) The written report of each examination, when
completed, shall be filed in the office of the commissioner and, when so filed, shall not
constitute a public record. (c) Any person being examined shall produce, upon request, all
records of the person. The designated representative of the commissioner may at any time examine
the records and affairs of the person, whether in connection with a formal examination or
not. (d) The commissioner may waive the examination requirements of this section if the certificate
holder submits audited financial statements. (e) The person examined shall pay the examination
expenses, travel expense and per diem subsistence allowance...
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27-3-17
Section 27-3-17 Application for certificate of authority - Filing. To apply for an original
certificate of authority an insurer shall file with the commissioner its application therefor,
accompanied by the applicable fees as specified in Section 27-4-2, showing its name, location
of its home office or, if an alien insurer, principal office in the United States, kinds of
insurance to be transacted, state or country of domicile and such additional information as
the commissioner may reasonably require, together with the following documents, as applicable:
(1) A copy of its corporate charter, articles of incorporation or other charter documents
with all amendments thereto, certified by the public officer with whom the originals are on
file in the state or country of domicile; (2) If a mutual insurer, a copy of its bylaws, as
amended, certified by its secretary or other officer having custody thereof; (3) If a foreign
reciprocal insurer, copies of the power of attorney of its...
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27-3-26
Section 27-3-26 Annual statement of insurers; furnishing of other information on request. (a)
Each authorized insurer shall, annually on or before March 1, or within such extension of
time not exceeding 30 days after March 1 as the commissioner for good cause shown may grant
as to a particular insurer, file with the commissioner a full and true statement of its financial
condition, transactions and affairs as of the December 31, preceding. The statement shall
be in such general form and context as is in current use for similar reports to states in
general with respect to the type of insurer and kinds of insurance to be reported upon and
as supplemented by additional information required by the commissioner. The statement shall
be verified by the oath of the insurer's president or vice-president and secretary or actuary
as applicable or, if a reciprocal insurer, by the oath of the attorney-in-fact or its like
officers if a corporation. (b) The statement of an alien insurer shall be...
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27-31B-10
Section 27-31B-10 Examinations and investigations. (a) At least once in three years, and whenever
the commissioner determines it to be prudent, the commissioner shall visit each captive insurance
company and thoroughly inspect and examine its affairs to ascertain its financial condition,
its ability to fulfill its obligations, and whether it has complied with this chapter. The
commissioner, upon application, may enlarge the three-year period to five years, provided
the captive insurance company is subject to a comprehensive annual audit during that period
of a scope satisfactory to the commissioner by independent auditors approved by the commissioner.
The expenses and charges of the examination shall be in accordance with Section 27-2-25. (b)
All examination reports, preliminary examination reports or results, working papers, recorded
information, documents, and copies thereof produced by, obtained by, or disclosed to the commissioner
or any other person in the course of an examination...
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27-31C-7
Section 27-31C-7 Confidentiality of information. The confidentiality provisions of Sections
27-31B-9(b) and 27-31B-10 do not extend to final reports of its financial condition produced
by the commissioner in inspecting or examining an Alabama Coastal Captive Insurance Company
and do not extend to reports submitted by an Alabama Coastal Captive Insurance Company. All
work papers, recorded information, documents, and their copies produced by, obtained by, or
disclosed to the commissioner, his or her designee, or other persons made under this chapter
must be given confidential treatment as provided in Sections 27-31-3(4), 27-31B-9(b), and
27-31B-10. (Act 2008-391, p. 742, §2.)...
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