27-31B-14
Section 27-31B-14 Rating organizations; memberships. No captive insurance company may be required to join a rating organization. (Act 2006-509, p. 1153, §1.)...
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27-31B-5
Section 27-31B-5 Names of companies. No captive insurance company shall adopt a name that is the same, deceptively similar, or likely to be confused with or mistaken for any other existing business name registered in the State of Alabama. (Act 2006-509, p. 1153, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-5.htm - 574 bytes - Match Info - Similar pages
27-31C-9
Section 27-31C-9 Findings of the commissioner. The commissioner may not issue a license to an Alabama Coastal Captive Insurance Company unless the commissioner finds that the: (1) Coastal captive insurance company is capitalized adequately or properly reinsured or both, after giving due consideration to the business plan, feasibility study, and pro formas, including the level of risk to be retained by the coastal captive insurance company; (2) Proposed business plan of the coastal captive insurance company provides for a reasonable and expected successful operation and is not hazardous to any policyholder; (3) Proposed business plan, including any contracts or agreements to which the coastal captive insurance company is a party, and the intended operation of the coastal captive insurance company comply with this chapter and with any other applicable provisions of this title; and (4) Proposed business plan and intended operation of the coastal captive insurance company satisfy the...
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27-31C-2
Section 27-31C-2 Definitions. For the purpose of this chapter : (1) ALABAMA COASTAL CAPTIVE INSURANCE COMPANY. A captive insurance company, as is defined by Section 27-31B-2(8), that is specifically formed to provide homeowners insurance coverage as limited in Section 27-31B-3(a)(4) and as defined and limited in the standard real property and contents insurance forms as approved by the commissioner. (2) COMMISSIONER. The Commissioner of Insurance of the State of Alabama. (3) DEPARTMENT. The Alabama Department of Insurance. (4) PERIL. The cause of an insured loss. (5) STATE. The State of Alabama. (Act 2008-391, p. 742, §2.)...
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27-31C-5
Section 27-31C-5 Formation requirements. (a) The requirements of Section 27-31B-8 apply to an Alabama Coastal Captive Insurance Company. (b) The commissioner has discretion to restrict the form of an Alabama Coastal Captive Insurance Company to one or more of the types of defined captives listed in Section 27-31B-8, and has the discretion to accept or deny an application based on a finding that one or more of the incorporation or organization options available are not feasible for an Alabama Coastal Captive Insurance Company. (Act 2008-391, p. 742, §2.)...
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27-40-11
Section 27-40-11 Procedure for cancellation of insurance contract upon default. (a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the premium finance company unless such cancellation is effectuated in accordance with this section. (b) Not less than 10-day written notice shall be mailed to the insured, at his last known address as shown on the records of the premium finance company, of the intent of the premium finance company to cancel the insurance contract unless the default is cured within such 10-day period. (c) After the notice in subsection (b) of this section has expired, the premium service company may thereafter request, in the name of the insured, cancellation of such insurance contract by mailing to the insurer a notice of cancellation, and the insurance contract shall be cancelled as if such...
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27-5-13
Section 27-5-13 Denial of health or disability insurance coverage upon diagnosis of sickle-cell anemia prohibited. Notwithstanding any other provision of law, any insurance company doing business within the state which offers health or disability insurance, is hereby prohibited from denying coverage to applicants because the applicant has been diagnosed as having sickle-cell anemia, and is hereby required to pay any valid claim made involving treatment or care of sickle-cell anemia in accordance with other policy provisions. (Acts 1982, No. 82-542, p. 893, §1.)...
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34-27C-6
Section 34-27C-6 Insurance requirements. (a) Contract security company licensees shall file certificates of insurance with the board certifying coverage. The minimum amount of coverage shall be two million dollars ($2,000,000) for bodily or personal injury and two hundred thousand dollars ($200,000) for property damage. There shall be included endorsements for general liability, personal injury, and workers' compensation. (b) An insurance policy may not be modified or cancelled without 30 days' prior notice to the board. The insurance company shall be licensed in this state, or in the state in which the insurance is purchased, with the name of a designated agent for service filed in the office of the Secretary of State. (Act 2009-640, p. 1960, §6.)...
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27-31C-1
Section 27-31C-1 Short title. This chapter may be cited as the Alabama Coastal Captive Insurance Company Act. (Act 2008-391, p. 742, §2.)...
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27-31C-6
Section 27-31C-6 Exemptions from chapter. The commissioner, by rule, regulation, or order, may exempt an Alabama Coastal Captive Insurance Company, on a case-by-case basis, from provisions of this chapter that are determined to be inappropriate given the nature of the risks to be insured and the intent of this chapter. (Act 2008-391, p. 742, §2.)...
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