HB350 Alabama 2012 Session

Updated Jul 25, 2021

House Bill

Expired

Current Status

Regular Session 2012

Session

10

Summary

Primary Sponsor: Yvonne Kennedy
Democrat
Co-Sponsors: Steve McMillan Alan Baker Chad Fincher Joe Faust Harry Shiver Victor Gaston Randy Davis James E. Buskey Napoleon Bracy
Session: Regular Session 2012
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: This bill would create the Property Insurance Clarity Act.
This bill would require insurance companies transacting business in the state to provide policy and premium information to the Department of Insurance.
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.
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.
Subjects: Insurance Department

Read for the first time and referred to the House of Representatives committee on Insurance