Notice is hereby given that a hearing will be held at 10:00 a.m. Central Time, on Thursday, October 14, 2021, 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 20 of Insurance Regulation No. 138 [Rule 482-1-138-.20], setting forth the captive insurer application fee and license fee, initial and renewal, as adjusted pursuant to the provisions of Ala. Code § 41-1-11 permitting the increase of certain fees by the percentage increase in the Consumer Price Index. The fees for captive insurer application fee and license fee, initial and annual renewal, was initially set in 2006 in Ala. Code § 27-31B-4. The revision adjusts the fees according to changes in the Consumer Price Index over the last ten years as permitted by Ala. Code § 41-1-11. The proposed effective date of the revised regulation is January 1, 2022. (1 page)
Adoption of new Section 8 of Insurance Regulation No. 161 [new Rule 482-1-161-.08], which is added to adopt by reference the 2022 version of the Valuation Manual developed by the National Association of Insurance Commissioners (NAIC), to include the revisions made by the NAIC in 2021, as authorized in Section 27-36A-15, Code of Alabama 1975. The new rule will become effective January 1, 2022. (1 page)
Revision of Insurance Regulation No. 164 [Chapter 482-1-164] setting forth the rules and procedural requirements the Commissioner deems necessary to carry out the provisions of Chapter 45A of the Alabama Insurance Code, as amended by Alabama Act No. 2021-341, to provide for the licensing of pharmacy benefits managers, to provide for the renewal of licenses of pharmacy benefits managers, to provide for the transition of licenses for pharmacy benefits managers licensed prior to January 1, 2022, and to provide a fee schedule to allow the regulation and oversight activities of the Department to be self-supporting. The proposed effective date of the revised regulation is January 1, 2022. (12 pages)
Adoption of new State Fire Marshal Regulation No. 112 [Chapter 482-2-112] setting forth the procedures for compliance with the fire reporting requirement by certain local governmental officials, as set forth in Ala. Code §36-19-6, and by fire insurance companies, as set forth in §§ 36-19-24 and 36-19-42. The new regulation will become effective January 1, 2022. (6 pages)
Any person wishing to submit testimony at said hearing is requested to submit said testimony in writing by October 6, 2021, 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.