HB354 Alabama 2020 Session
Bill Summary
Under existing law, property and casualty insurers are required to annually file a statement of a qualified independent loss reserve specialist setting forth an opinion relating to loss and loss adjustment expense reserves.
This bill would provide for an opinion of an appointed actuary and authorize insurers to allow for an exception from the requirement to annually file an actuarial opinion based on exemptions set forth in the annual statement instructions provided by the National Association of Insurance Commissioners.
Relating to insurance, to amend Section 27-3-26.1, Code of Alabama 1975; to provide for an opinion of an appointed actuary; and to permit an insurer to apply for an exception to the requirement for property and casualty insurers to annually file an actuarial opinion based on exemptions set forth in the annual statement instructions provided by the National Association of Insurance Commissioners.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 5, 2020 | H | Pending third reading on day 11 Favorable from Insurance |
| March 5, 2020 | H | Read for the second time and placed on the calendar |
| February 27, 2020 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB354 Alabama 2020 Session - Introduced |
Source: Alabama Legislature