Notice is hereby given that a hearing will be
held at 10:00 a.m. Central Time, on
Thursday, November 7, 2019, 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 6 of Insurance Regulation No. 161 [new Rule 482-1-161-.06], which is
added to adopt by reference the 2020 version of the Valuation Manual developed
by the National Association of Insurance Commissioners (NAIC), to include the
revisions made by the NAIC in 2019, as authorized in Section 27-36A-15, Code of
Alabama 1975. The new rule will become
effective January 1, 2020. (1 page)
Adoption of new
Insurance Regulation No. 164 [Rule 482-1-164], which relates to licensing of
pharmacy benefit managers. The new
regulation sets the fees for initial and annual renewal of license at $500, as
authorized in Section 4 of Alabama Act No. 2019-457, and the fine for operating
in violation of the law at $1,000 per day, as authorized in Section 6 of
Alabama Act No. 2019-457. The new
regulation will become effective January 1, 2020. (7 pages)
Adoption of new
Insurance Regulation No. 165 [Rule 482-1-165], which relates to the issuance of
professional licenses to the spouses of active duty military personnel. The new regulation sets the rules and
procedural requirements for the expedited review of applicable applications and
for the waiver of the initial licensing fee for insurance producers, service
representatives, independent adjusters, and title insurance agents, as
authorized in Section 31-1-6, Code of Alabama 1975. The new regulation will become effective
November 17, 2019. (4 pages)
Any person wishing to submit testimony at said
hearing is requested to submit said testimony in writing by November 6, 2019,
to the Alabama Department of Insurance, Attention: Legal Division, Post Office Box 303351,
Montgomery, Alabama 36130-3351. Any written submission of testimony prior to
the hearing will not preclude anyone from making an oral or written
presentation at the hearing.
A copy of the regulations may be obtained by written request to the Alabama
Department of Insurance, Post Office Box 303351, Montgomery, Alabama 36130-3351.
The request must include payment of $1.00
per page and a self-addressed, postage paid return envelope. A scanned copy may be obtained at no charge
via electronic mail. You may send an
e-mail request to Raymond.Taylor@insurance.alabama.gov.