27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer, the association may, in its discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer, and that are approved by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured, any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges, notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure payment of the contractual obligations of the impaired insurer pending action under subdivision (1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee, assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
27-2B-3
Section 27-2B-3 Preparation and submission of RBC report; formulas; desirability of excess capital; adjustment of inaccurate RBC report. (a) Every domestic insurer shall, on or prior to each March 1 (the "filing date"), prepare and submit to the commissioner a report of its RBC levels as of the end of the calendar year just ended, in a form and containing information as is required by the RBC instructions. In addition, every domestic insurer shall file its RBC report with: (1) The NAIC according to the RBC instructions. (2) The insurance commissioner in any state in which the insurer is authorized to do business, if the insurance commissioner has notified the insurer of its request in writing, in which case the insurer shall file its RBC report not later than the later of either of the following: a. Fifteen days from the receipt of notice to file its RBC report with that state. b. The filing date. (b) A life and health insurer's and a fraternal benefit society's RBC shall be determined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-3.htm - 3K - Match Info - Similar pages
27-29-4
Section 27-29-4 Registration of insurers. (a)(1) Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to registration requirements and standards adopted by statute or regulation in the jurisdiction of its domicile which are substantially similar to those contained in this section and both of the following: a. Subdivision (1) of subsection (a) of Section 27-29-5, and subsections (b) and (d) of Section 27-29-5. b. Either subdivision (2) of subsection (a) of Section 27-29-5 or a provision such as the following: Each registered insurer shall keep current the information required to be disclosed in its registration statement by reporting all material changes or additions within 15 days after the end of the month in which it learns of each change or addition. (2) Any insurer which is subject to registration under this section shall register within 15...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-4.htm - 8K - Match Info - Similar pages
27-62-3
Section 27-62-3 Definitions. For purposes of this chapter, the following words have the following meanings: (1) AUTHORIZED INDIVIDUAL. An individual known to and screened by the licensee and determined to be necessary and appropriate to have access to the nonpublic information held by the licensee and its information systems. (2) COMMISSIONER. The Commissioner of Insurance. (3) CONSUMER. An individual, including, but not limited to, an applicant, policyholder, insured, beneficiary, claimant, or certificate holder, who is a resident of this state and whose nonpublic information is in the possession, custody, or control of a licensee. (4)a. CYBERSECURITY EVENT. An event resulting in unauthorized access to, disruption, or misuse of an information system or nonpublic information stored on an information system. b. The term cybersecurity event does not include the unauthorized acquisition of encrypted nonpublic information if the encryption, process, or key is not also acquired, released,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-62-3.htm - 5K - Match Info - Similar pages
31-5-12
Section 31-5-12 Seal of Office of State Service Commissioner; appointment and powers of service commissioners as notaries public. The State Service Commissioner shall have a seal of office and he, the assistant state service commissioner and each district service commissioner and county service commissioner shall be appointed notaries public and authorized to administer oaths to any person or persons who may desire to swear to the correctness of any statement or statements made in connection with any application for compensation, hospitalization, insurance, or any other service, aid or benefit to which such person or persons, or any other person or persons on whose behalf the affidavits are made, may be entitled under existing laws of the United States, or such as may hereafter be enacted. Such officers shall likewise be authorized and empowered to certify to the correctness of any document or documents which may be submitted in connection with any such application or applications....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/31-5-12.htm - 1K - Match Info - Similar pages
27-29B-3
Section 27-29B-3 Disclosure requirement. (a) Not later than June 1 of each calendar year, an insurer or the insurance group of which the insurer is a member, shall submit to the commissioner a Corporate Governance Annual Disclosure that contains the information described in Section 27-29B-5. Notwithstanding any request from the commissioner made pursuant to subsection (c), if the insurer is a member of an insurance group, the insurer shall submit the report required by this section to the commissioner of the lead state for the insurance group in accordance with the laws of the lead state as determined by the procedures outlined in the most recent Financial Analysis Handbook adopted by the NAIC. (b) The CGAD shall include a signature of the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29B-3.htm - 3K - Match Info - Similar pages
2-10-28
Section 2-10-28 Annual report. Every association shall prepare and make out an annual report, on forms furnished by the commissioner and approved by the State Board of Agriculture and Industries, containing such financial and other information relative to its operation during the fiscal year as may be required by the State Board of Agriculture and Industries. Such report shall contain, in addition to such other information as the board may require, the name of the association, its principal place of business, a general statement of its business operations during the fiscal year, the sources of its capital, expenses of operations and its balance sheets. Said report shall be filed with the commissioner on such date as required by the State Board of Agriculture and Industries. Said report shall be considered as a confidential document, and the information contained therein shall not be divulged except by permission of the board. It shall be the duty of the commissioner to check or cause...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-28.htm - 1K - Match Info - Similar pages
27-21A-24
Section 27-21A-24 Filings and reports as public documents. All applications, filings, and reports required under this chapter, except those which are trade secrets or privileged or confidential commercial or financial information, other than any annual financial statement that may be required under Section 27-21A-8, shall be treated as public documents. All testimony, documents, and other evidence required to be submitted to the commissioner or State Health Officer in connection with enforcement of this chapter shall be absolutely confidential and shall not be admissible in evidence in any other proceeding. The commissioner or the State Health Officer may withhold from public inspection any examination or investigation report for so long as they deem necessary to protect the person examined from unwarranted injury or to be in the public interest. (Acts 1986, No. 86-471, p. 854, ยง24.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-21A-24.htm - 1K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-17.htm - 3K - Match Info - Similar pages
27-7-5.2
Section 27-7-5.2 Licenses - Limited license for travel insurance producers. (a) As used in this section, the following terms shall have the following meanings: (1) OFFER AND DISSEMINATE. Provide general information, including a description of the coverage and price, as well as processing the application, collecting premiums, and performing other non-licensable activities permitted by the state. (2) TRAVEL INSURANCE. a. Insurance coverage for personal risks incident to planned travel, including, but not limited to: 1. Interruption or cancellation of trip or event. 2. Loss of baggage or personal effects. 3. Damages to accommodations or rental vehicles. 4. Sickness, accident, disability, or death occurring during travel. b. Travel insurance does not include major medical plans which provide comprehensive medical protection for travelers with trips lasting six months or longer, including for example, those working overseas or military personnel being deployed. (3) TRAVEL INSURANCE...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.2.htm - 6K - Match Info - Similar pages
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