Insurance, title insurers authorized to form rating bureau for purposes of filing rates on behalf of members, Secs. 27-13-140 to 27-13-146, inclusive, 27-25-6.1 added; Secs. 27-13-2, 27-25-6 am'd.
Under existing law, title insurance companies are required to seek prior approval of their rates by the Commissioner of Insurance. This bill would authorize title insurers to form a rating bureau for the purpose of filing rates on behalf of its member insurers
Relating to insurance; to provide for the establishment of a rating bureau for title insurance; and for that purpose to add a new Article 6, commencing with Section 27-13-140, to Chapter 13, Title 27, Code of Alabama 1975; to amend Sections 27-13-2 and 27-25-6, Code of Alabama 1975; and to add Section 27-25-6.1 to the Code of Alabama 1975.
February 8, 2018
Read for the first time and referred to the Senate committee on Banking and Insurance