SB10 Alabama 2010 1st Special Session

Under existing law, certain insurance risks may be placed with foreign and alien insurers pursuant to the surplus line insurance law, but only with insurers that have done business as authorized insurers in their state of domicile for a minimum of five years

This bill would provide an exception to the five-year requirement of foreign and alien surplus line insurers who place a special deposit in this state

To amend Section 27-10-26, Code of Alabama 1975, relating to surplus line insurance; to provide an exception to the five-year requirement for foreign and alien surplus line insurers submitting a special deposit in this state.