SB199 Alabama 2010 Session

Summary

Primary Sponsor

Ben H. Brooks

Republican

Co-Sponsors

Trip PittmanRusty GloverGeorge M. “Marc” Keahey

Session

Regular Session 2010

Title

Homeowners insurance, carriers required to disclose actual costs of each item of coverage in annual renewal policy package, both as cost per $1,000 coverage and actual cost of each item of coverage, Homeowner's Insurance Cost Transparency Act

Summary

This bill requires homeowners insurance carriers to disclose the actual costs of each type of coverage in the annual renewal package, shown per $1,000 of coverage and as total costs.

What This Bill Does

If passed, the bill would force insurers to include a clear written disclosure of the cost of every coverage type in the renewal package, showing both the rate per $1,000 and the actual total cost for each item. It also authorizes the Insurance Commissioner to adopt a standard form for these disclosures. The act becomes effective on the first day of the third month after it is passed and approved by the Governor.

Who It Affects

• Homeowners with homeowner's insurance policies, who would receive itemized cost disclosures for each coverage type in their annual renewal package.
• Homeowners insurance carriers, which would be required to include the cost disclosures in renewal packets and may need to use a standard form set by the Insurance Commissioner.

Key Provisions

• Requires renewal packages to include a clear written disclosure of the actual costs of each item of coverage, expressed as both the cost per $1,000 of coverage and the actual total cost for each item, plus the total policy premium.
• Gives the Insurance Commissioner authority to adopt a standard form for the disclosure and sets the act's effective date as the first day of the third month after passage and governor approval.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Insurance