Notice is hereby given that a hearing will be held at on Tuesday, September 23, 2003, at the offices of the Alabama Department of Insurance, 201 Monroe Street, Suite 1700, Montgomery, Alabama, as follows:
Repeal of Department Regulation No. 56, Regulation Relating to the Use of Overinsurance Reduction of Benefit Provisions in Group Health Insurance Policies and Group Service Plan Corporation Contracts. [15 pages]
Adoption of proposed new Regulation No. 128 [Chapter 482-1-128], to be known as Group Coordination of Benefits (COB). It permits insurers to include COB; establishes a uniform order of benefit determination; provides for orderly transfer of necessary information and funds between plans; reduces duplication of benefits; reduces claims payment delays and requires COB provisions to be consistent with this chapter. [23 pages]
Adoption of proposed new Regulation No. 129 [Chapter 482-1-129], to be known as Annuity Disclosure. It is to provide disclosure standards of certain minimum information about annuity contracts to protect consumers and to foster consumer education. [37 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 DSmith@insurance.state.al.us.