SB2 Alabama 2011 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2011
Title
Insurance Department, required to collect information from insurance companies on homeowners insurance policies and premiums by counties and zip code and post aggregate information on website, penalties for insurance companies not in compliance, Property Insurance Clarity Act
Description
<p class="bill_description"> This bill would create the Property
Insurance Clarity Act</p><p class="bill_description">
This bill would require insurance companies
transacting business in the state to provide policy
and premium information to the Department of
Insurance</p><p class="bill_description">
This bill would require the department to
provide on the department website aggregate data,
separately for homeowners and commercial property
insurance policies, of the number of policies
written, the direct earned premiums, and the direct
incurred losses representing the total of every
insurance company doing business in Alabama</p><p class="bill_description">
This bill would also require the department
to post on the department website a comprehensive
description of the actuarial model used by the
department for homeowner's and commercial
properties risk and other related data</p><p class="bill_entitled_an_act"> Creating the Property Insurance Clarity Act; to
require insurance companies transacting business in the state
to provide policy and premium information to the department;
to require the department to provide on the department website
aggregate data, separately for homeowners and commercial
property insurance policies, of the number of policies
written, the direct earned premiums, and the direct incurred
losses representing the total of every insurance company doing
business in the state; to require the department to post on
the department website a comprehensive description of the
actuarial model used by the department for homeowner's and
commercial properties risk and other related data; and to
provide penalties for insurance company noncompliance.
</p>
Subjects
Insurance Department
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 1, 2011 | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB2 Alabama 2011 Session - Introduced |