HB726 Alabama 2012 Session

Summary

Primary Sponsor

Joseph C. Mitchell

Democrat

Co-Sponsors

Napoleon BracyJim BartonJamie IsonSteve McMillanAlan BakerChad FincherJoe FaustHarry ShiverVictor GastonRandy DavisJames E. BuskeyYvonne KennedyDavid Sessions

Session

Regular Session 2012

Title

Homeowners insurance, rate filings and related actuarial information for homeowners property insurance coverage in Alabama are public record, review available in office of Insurance Commissioner and via Insurance Department Internet website, exceptions regarding confidential information

Summary

HB726 would require homeowners insurance rate filings and related actuarial information in Alabama to be public, with limited confidential exceptions.

What This Bill Does

If enacted, it would make rate filings and actuarial data for homeowners insurance public information and accessible for review at the Alabama Office of the Insurance Commissioner and on the Department of Insurance website. Some confidential information, such as proprietary actuarial analyses or other statutory trade secrets, would remain confidential and only be released with a court order or under separate cover clearly marked as confidential. The act would take effect on the first day of the third month after it passes.

Who It Affects

• Insurance companies and their actuaries: must submit rate filings and related actuarial information, with confidential items kept separate and protected as trade secrets.
• The general public and consumers: gain access to most homeowners insurance rate filings and actuarial information through the Commissioner’s office and the Department of Insurance website.
• Department of Insurance staff: responsible for reviewing public filings, maintaining confidential information separately, and handling court-order requests for confidential data.

Key Provisions

• All rate filings and related actuarial information for Alabama homeowners insurance filed after the act’s effective date must be public information.
• Public information must be available for review at the Office of the Commissioner of Insurance in Montgomery and via the Department of Insurance website.
• Proprietary or confidential actuarial risk analysis or forecast information, or information restricted by statute or rule, may be kept confidential as a trade secret and not released without a court order; such data must be submitted under separate cover and clearly labeled as confidential.
• If confidential information is requested by court order, the Department of Insurance must provide at least 10 business days’ notice to the applicable entity.
• The act becomes effective on the first day of the third month following passage and governor approval.

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