HB350 Alabama 2012 Session

Summary

Primary Sponsor

Yvonne Kennedy

Democrat

Co-Sponsors

Steve McMillanAlan BakerChad FincherJoe FaustHarry ShiverVictor GastonRandy DavisJames E. BuskeyNapoleon 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

Summary

HB350 would require insurers to report policy and premium data to Alabama's Department of Insurance and publish aggregate, county- and ZIP code–level data publicly, with penalties for noncompliance.

What This Bill Does

Insurers would annually submit the prior year's totals (policies written, direct earned premiums, and direct incurred losses) for homeowners and commercial property, broken out by county and ZIP code. The Department would compile a statewide database and post the aggregate data by county/ZIP and calendar year on its website, along with a description of the actuarial rate-making model used, and data would go back to 1990, with updates published each year. The act also sets penalties for noncompliance, including daily fines and possible suspension from selling new policies, and provides immunity for Department of Insurance employees.

Who It Affects

• Insurance companies transacting business in Alabama: must report annual data by county/ZIP for homeowners and commercial property and could face fines and suspension if they fail to comply.
• The general public/consumers: will have access to publicly posted, county- and ZIP code–level aggregate insurance data and information about how rates are set on the Department of Insurance website.

Key Provisions

• Insurers must report annual homeowners and commercial property data (policies written, direct earned premiums, direct incurred losses) to the Alabama Department of Insurance, with aggregates posted by county and ZIP code for each year.
• The act establishes enforcement and extension rules: the commissioner may grant a 90-day extension for reasonable cause; if still noncompliant, insurers face $2,500 per day fines and possible suspension from selling new policies, and department employees have immunity.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Insurance Department