SB26 Alabama 2021 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 |
|---|---|---|
| February 23, 2021 | H | Pending third reading on day 8 Favorable from Insurance |
| February 23, 2021 | H | Read for the second time and placed on the calendar |
| February 11, 2021 | S | Engrossed |
| February 11, 2021 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
| February 11, 2021 | S | Motion to Read a Third Time and Pass adopted Roll Call 165 |
| February 11, 2021 | S | Shelnutt motion to Adopt adopted Roll Call 164 |
| February 11, 2021 | S | Banking and Insurance Amendment Offered |
| February 11, 2021 | S | Third Reading Passed |
| February 10, 2021 | S | Read for the second time and placed on the calendar 1 amendment |
| February 2, 2021 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | February 23, 2021 | Room 617 at 11:30 | House INS Hearing |
| Hearing | February 10, 2021 | Room 325 **Added a bill** at 13:00 | Senate B&I Hearing |
| Hearing | February 10, 2021 | Room 325 at 13:00 | Senate B&I Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB26 Alabama 2021 Session - Engrossed |
| Bill Text | SB26 Alabama 2021 Session - Introduced |
| Bill Amendments | Senate Banking and Insurance first Amendment Offered |
| Fiscal Note | Fiscal Note - SB26 for Banking and Insurance |
| Fiscal Note | Fiscal Note - SB26 for Banking and Insurance |
| Fiscal Note | Fiscal Note - SB26 for Insurance |