Alabama Department of Insurance

Amendments to the Preneed Funeral and Cemetery Act

Senate Bill 98, sponsored by Sen. Paul Bussman

Act 2014-216 - effective July 1, 2014

Makes various revisions to the 2002 act, including:

• Gives Commissioner authority over persons unlawfully writing preneed contracts.
• Makes certain violations punishable as a felony.
• Changes the annual renewal dates for certificate holders.
• Requires certificate holders to make semi-annual reports of preneed contract and trust activity.
• Changes the timing for placing preneed funds into trust.

AHIP Suspension

Senate Bill 123, sponsored by Sen. Slade Blackwell

Act 2014-219 - effective April 2, 2014

Authorizes the Alabama Health Insurance Plan to cease operations under certain conditions.

Criminal Background Investigation Amendments

Senate Bill 45, sponsored by Sen. Paul Bussman

Act 2014-296 - effective April 7, 2014

Amendments to the law authorizing the fingerprinting of Insurance Producers, Independent Adjusters and Title Insurance Agents.

Amendments to the Insurance Company Holding Systems Act

House Bill 111, sponsored by Rep. Mike Hill

Act 2014-324 - effective January 1, 2016

Provides various revisions to make Alabama law substantially similar to the NAIC Model Holding Company Act.

ALDOI Accreditation bill

Senate Bill 45, sponsored by Sen. Slade Blackwell

Act 2014-377 - effective January 1, 2015

Provides various revisions to make Alabama law substantially similar to the NAIC Model Risk-Based Capital, Business Transacted with Producer Controlled Property and Casualty Insurer, and the Risk Retention Acts.

Credit Against Insurance Premium Tax for Wind Coverage

Senate Bill 254, sponsored by Sen. Bill Hightower

Act 2014-420 - effective July 1, 2014

Amends the law providing credit against premium tax for insurers voluntarily writing property policies which include wind coverage in Mobile and Baldwin counties.