A hearing will be held before the Alabama Commissioner of Insurance at 10:00 AM on September 5, 2001, at the offices of the Alabama Department of Insurance, 201 Monroe Street, Suite 1700, Montgomery, Alabama, as follows:
-
Revision of Regulation No. 116 [Chapter 482-1-116], known as the Alabama Small Employer Allocation Program Regulation, to increase the allowed rating adjustments based on health characteristics from 20% above or below the insurer’s base rate to 25%. The proposed revision has received the concurrence of the State Board of Health and will take effect on October 1, 2001. (29 pages)
-
Revision of Regulation No. 122 [Chapter 482-1-122], so as to set forth the requirements governing the treatment of nonpublic personal financial information about individuals to comply with Title V of the Gramm-Leach-Bliley Act (15 U.S. Code §§ 6801-6827). The proposed compliance date is December 31, 2001. (53 pages)
-
Adoption of proposed new Regulation No. 123 [Chapter 482-1-123], to be known as the Rates and Forms Filing Requirements Regulation. The purpose of the proposed new regulation is to set forth requirements to be followed in the filing of rates and policy forms, with the desired result of improving the speed to market of policy forms and rate filings. The proposed effective date is October 1, 2001. (9 pages)
Any person wishing to submit testimony at said hearing is requested to submit said testimony in writing 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 one dollar per page and a self-addressed, postage paid return envelope. An unofficial copy may also be obtained at no charge via electronic mail. You may send an e-mail request to mailto:rnorman@insurance.state.al.us
PLEASE NOTE: This is the second hearing conducted in this matter, to be held for the purpose of complying with new administrative rules requirements set forth in Section 20 of Alabama Act No. 2001-702 (Senate Bill 427, 2001 Regular Session).