HB122 Alabama 2021 Session

Summary

Primary Sponsor

Kerry Rich

Republican

Session

Regular Session 2021

Title

Insurance, flood insurance, exempt from rate filing and approval requirement, Sec. 27-13-21 am'd.

Summary

HB122 would exempt flood insurance from the state rate filing and approval requirement, effective immediately after passage, with flood insurance for motor vehicles treated separately under inland marine rules.

What This Bill Does

It amends Section 27-13-21 to remove flood insurance from the list of policies that must file rates for approval by the Commissioner of Insurance. As a result, flood insurers would not need to file or obtain approval for flood insurance rates from the Commissioner. Flood insurance for motor vehicles remains governed by inland marine insurance provisions (27-13-22), so those rates would continue under that framework. The act becomes effective immediately upon passage and approval by the Governor, or otherwise becoming law.

Who It Affects

• Flood insurance providers in Alabama: They would no longer be required to file flood insurance rates for state approval.
• Policyholders in Alabama with flood insurance: Their flood insurance pricing would no longer require prior state rate filing/approval, potentially changing how premiums are set.

Key Provisions

• Exempts flood insurance from the rate filing and approval requirements by the Alabama Commissioner of Insurance.
• Flood insurance for motor vehicles remains subject to inland marine insurance provisions (27-13-22).

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Insurance