HB113 Alabama 2012 Session

Sponsors

Session

Regular Session 2012

Title

Insurance Department, insurance producers licensure further provided for, require licensees notification of changes in addresses, Secs. 27-7-1, 27-7-5, 27-7-14.1, 27-7-17, 27-7-37, 27-8A-1, 27-8A-6 am'd; 27-7-4.4, 27-22A-1 to 27-22A-7, inclusive, added; 27-7-20, 27-7-21 repealed

Description

<p class="bill_description"> Under existing law, insurance producers are licensed for various lines of authority, including automobile and industrial fire</p><p class="bill_description"> Under existing law, certain insurance producers must complete a prelicensing course of study before qualifying for an insurance producer license</p><p class="bill_description"> Under existing law, administrative complaints filed by the Department of Insurance against insurance producers must be served via registered or certified mail</p><p class="bill_description"> Under existing law, insurance producers are generally subject to a continuing education requirement but there are several exceptions to this requirement</p><p class="bill_description"> Under existing law, insurance producers are required to certify on the license renewal form whether they have completed the continuing education requirement</p><p class="bill_description"> Under existing law, insurance licensees are required to notify the commissioner of any change in legal name or address within 30 days</p><p class="bill_description"> Under existing law, there are no special provisions in the insurance producer licensing laws regarding the sale of insurance coverage of portable electronics</p><p class="bill_description"> This bill would eliminate the insurance producer lines of authority for automobile and industrial fire and provide a transition for existing producer licenses and would add travel and crop insurance as limited lines insurance</p><p class="bill_description"> This bill would also provide exceptions to the prelicensing course of study to qualify for an insurance producer license for those applicants with a college insurance degree and for applicants for the variable life and variable annuity line of authority</p><p class="bill_description"> This bill would also provide an exception to the prelicensing examination requirement for an insurance producer license for those applicants for the variable life and variable annuity line of authority, but would require those applicants to be licensed for the life line of authority and also be registered under the securities law</p><p class="bill_description"> This bill would also authorize the Commissioner of Insurance to prescribe by regulation alternative methods to serve administrative complaints</p><p class="bill_description"> This bill would eliminate certain exemptions from the continuing education requirement for insurance producers, but would provide a grandfather provision for those currently exempt</p><p class="bill_description"> This bill would eliminate the requirement for insurance producers to certify on the license renewal form whether they have complied with the continuing education requirement</p><p class="bill_description"> This bill would require insurance licensees to notify the commissioner of any change in mailing address or electronic mail address within 30 days</p><p class="bill_description"> This bill would authorize the commissioner to require new applicants for an insurance producer license to submit fingerprints and perform a criminal history background check</p><p class="bill_description"> This bill would provide special licensing provisions for insurance coverage of portable electronics</p><p class="bill_entitled_an_act"> Relating to insurance; to amend Sections 27-7-1, 27-7-5, 27-7-14.1, 27-7-17, 27-7-37, 27-8A-1, and 27-8A-6, Code of Alabama 1975, and to add Section 27-7-4.4 to the Code of Alabama 1975; to add Chapter 22A to Title 27, beginning with Section 27-22A-1, and to repeal Sections 27-7-20 and 27-7-21, Code of Alabama 1975; to eliminate the insurance producer lines of authority for automobile and industrial fire and provide a transition for existing producer licenses; to add travel and crop insurance as limited lines insurance; to provide exceptions to the prelicensing course of study to qualify for an insurance producer license for applicants with a college insurance degree and for applicants for the variable life and variable annuity line of authority; to authorize the Commissioner of Insurance to prescribe by regulation alternative methods to serve administrative complaints; to eliminate certain exemptions from the continuing education requirements of insurance producers while providing a grandfather provision for those currently exempt; to eliminate the requirement that insurance producers certify on the license renewal form whether they have complied with the continuing education requirement; to require insurance licensees to notify the commissioner of any change in mailing address or electronic mail address within 30 days; to authorize the commissioner to require applicants to submit fingerprints and to perform a criminal history record check of all new applicants; to define terms relating to insurance coverage of portable electronics; to require vendors to hold a certain license to offer a policy of portable electronics insurance; to provide certain requirements applicable to vendors of portable electronics insurance; to provide fees for a limited lines insurance producer license for portable electronics insurance; and to provide an effective date. </p>

Subjects

Insurance Department