REGULATORY ACTIVITY:

• Published an update to Legal Regulation 161 regarding the state's valuation manual. The regulation becomes effective on January 1, 2018.

REGULATORY ACTIVITY:

• Published the adopted amendments to their Property Casualty Claims Standards. The rule amended is rule  482-1-125-.07 Standards for Prompt, Fair and Equitable Settlements Applicable to All Insurers.  The amended rule became effective May 16, 2020.  To view the adopted rule, go to https://www.aldoi.gov/Legal/.

LEGISLATIVE ACTIONS:

• Alabama has published an amended regulation and a new regulation.  Both actions were prompted by legislation recently passed by the Alabama Legislature:
  • Regulation 125 Standards for Property and Casualty Claims amended section 4821-1-125-.07 Standards for Prompt, Fair and Equitable Settlements Applicable to All Insurers.
  • Regulation 163 is a new regulation titled Value Added Services or Product 482-1-163.

REGULATORY ACTIVITY:

• Posted notice of a public hearing and amendment to rules regarding independent adjusters.
• A hearing was held at 10:00 a.m. Central Time, on Wednesday, November 15, 2017, in the offices of the Alabama Department of Insurance, 201 Monroe Street, Fifth Floor Conference Room, RSA Tower, Montgomery, Alabama, as follows:
  • Adoption of new Section 2-1 of Insurance Regulation No. 151 [Rule 482-1-151-.02-1], which will set forth the lines of authority for which an Independent Adjuster may apply.  The new rule will become effective November 25, 2017.  (1 page)
  • Amendment to Section 3 of Insurance Regulation No. 151 [Rule 482-1-151-.03], which sets forth the requirements for the pre-licensing course for Independent Adjusters.  The amendment merely clarifies there are four independent adjuster examinations: (a) Property and Casualty, excluding Workers’ Compensation and Crop; (b) Workers’ Compensation; (c) Crop; and (d) Property and Casualty, including Workers’ Compensation and Crop.  The amendment will become effective November 25, 2017.  (2 pages)
  • Amendment to Section 6 of Insurance Regulation No. 151 [Rule 482-1-151-.06], which sets the requirements for the Independent Adjuster examinations.  The amendment adds the new examination exemption for individuals holding a certification from an approved pre-licensing provider that the individual has passed an examination substantially similar to that required by the rule.  The amendment will become effective November 25, 2017.  (5 pages)
  • Amendment to Section 7 of Insurance Regulation No. 151 [Rule 482-1-151-.07], which sets the requirements for the Independent Adjuster license.  The amendment merely corrects a typographical error, changing a reference to “producer” to “independent adjuster.”  The amendment will become effective November 25, 2017.  (4 pages)
  • Amendment to Section 11 of Insurance Regulation No. 151 [Rule 482-1-151-.11], which sets the requirements for continuing education for Independent Adjusters.  The amendment adds the statutory exceptions to the continuing education requirement.  The amendment will become effective November 25, 2017.  (4 pages)
  • Amendments to Section 2 of Insurance Regulation No. 159 [Rule 482-1-159-.02], which sets the requirements for grants through the Strengthen Alabama Homes program.  The amendments make certain changes to the regulation consistent with current procedures being followed in the implementation of the program, and add a specific provision allowing periods when grant applications will be accepted.  The amendments will become effective November 25, 2017.  (4 pages)
  • Revisions to Insurance Regulation No. 161 [Chapter 482-1-161], which formally determined the operative date in this state of the Valuation Manual developed by the National Association of Insurance Commissioners (NAIC).  Section 3 [Rule 482-1-161-.03] is retiled to reflect the adoption of the 2017 Version, to include revisions made by the NAIC in 2016; while new Section 4 [Rule 482-1-161-.04] is added to adopt by reference the Valuation Manual as revised by the NAIC in 2017.  The revisions will become effective January 1, 2018.  (4 pages)
  • Adoption of Section 1 of State Fire Marshal Regulation No. 109 [Rule 482-2-109-.01], which adopts by reference the 2015 edition of the International Fuel Gas Code®, with exceptions.  The new rule will become effective January 1, 2018.  (1 page)
  • Adoption of new State Fire Marshal Regulation No. 110 [Chapter 482-2-110] to set forth the rules necessary to implement the provisions of Section 36-19-2.1, Code of Alabama 1975, regarding destructive device permits.  The new regulation will become effective November 25, 2017.  (7 pages).