SR39 Alabama 2015 Session

Summary

Primary Sponsor

Bill Hightower

Republican

Session

Regular Session 2015

Title

Urging the Alabama Insurance Underwriting Association to maintain adequate surplus

Summary

Senate resolution SR39 urges the Alabama Insurance Underwriting Association to maintain its current surplus to protect policyholders in Mobile and Baldwin Counties.

What This Bill Does

If enacted, it publicly urges the AIUA Board of Directors to keep the association’s surplus at its current level. It is a nonbinding expression of legislative support and does not create new law or mandatory requirements. It emphasizes the AIUA’s role in providing coverage and the importance of having enough surplus to pay claims after events like hurricanes.

Who It Affects

• Policyholders in Mobile and Baldwin Counties, who rely on AIUA coverage and would be protected by a stable surplus that can cover claims and expenses.
• AIUA Board of Directors and member insurers, who are urged to maintain the surplus at its current level to ensure financial stability and protect policyholders.

Key Provisions

• Urges the AIUA Board of Directors to maintain its surplus at least at the current amount to adequately protect policyholders in Mobile and Baldwin Counties.
• Highlights the AIUA’s role in providing basic, no-frills coverage and the need for sufficient surplus to cover operating expenses, routine claims, and the cost of reinsurance.

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

Subjects

Resolutions, Legislative