Ala. to Hold Regulation Hearings

The Alabama insurance commissioner will hold hearings at the state department of insurance, 201 Monroe Street, suite 1700, Montgomery, Alabama, on Aug. 14.

Issues to be discussed include:

• Revision of Regulation No. 106 [Chapter 482-1-106], which sets forth the requirements for licensing managing general agents. The proposed revisions encompass changes necessitated by the new producer licensing legislation. (28 pages)
• Revision of Regulation No. 109 [Chapter 482-1-109], which sets forth the procedures necessary for the annual continuation of the appointment of insurance producers and service representatives. The proposed revisions encompass changes necessitated by the new producer licensing legislation. (13 pages)
• Revision of Regulation No. 110 [Chapter 482-1-110], which sets forth the procedures necessary for the annual renewal of licenses of insurance producers and service representatives and implements the continuing education requirements for producers and service representatives. The proposed revisions encompass changes necessitated by the new producer licensing legislation. Revisions are also proposed to remove the automatic awarding of credit hours for certain courses, such that all courses will be approved for the number of hours assigned by the Commissioner. (25 pages)
• Adoption of proposed new Regulation No. 124 [Chapter 482-1-124], to be known as the Unfair Life, Accident and Health Claims Settlement Practices Regulation. The purpose of the proposed new regulation is to set forth minimum standards for the investigation and disposition of life, accident and health claims arising under policies or certificates issued pursuant to State law. This proposed regulation is based upon the model regulation developed by the National Association of Insurance Commissioners. (12 pages)
• Adoption of proposed new Regulation No. 125 [Chapter 482-1-125], to be known as the Unfair Property and Casualty Claims Settlement Practices Regulation. The purpose of the proposed new regulation is to set forth minimum standards for the investigation and disposition of property and casualty claims arising under contracts or certificates issued to residents of the State. It is not intended to cover claims involving workers’ compensation, fidelity, suretyship or boiler and machinery insurance. This proposed regulation is based upon the model regulation developed by the National Association of Insurance Commissioners. (23 pages)

In addition, the commissioner will hold a hearing at 10 a.m. September 19 on the Revision of Regulation No. 111 [Chapter 482-1-111], which sets forth the rules and requirements applicable to producers marketing credit insurance coverage. The proposed revisions encompass changes necessitated by the new producer licensing legislation. (24 pages).

Topics Legislation Claims Alabama