SB106 Alabama 2012 Session

Under existing law, insurance producers are licensed for various lines of authority, including automobile and industrial fire

Under existing law, certain insurance producers must complete a prelicensing course of study before qualifying for an insurance producer license

Under existing law, administrative complaints filed by the Department of Insurance against insurance producers must be served via registered or certified mail

Under existing law, insurance producers are generally subject to a continuing education requirement but there are several exceptions to this requirement

Under existing law, insurance producers are required to certify on the license renewal form whether they have completed the continuing education requirement

Under existing law, insurance licensees are required to notify the commissioner of any change in legal name or address within 30 days

Under existing law, there are no special provisions in the insurance producer licensing laws regarding the sale of insurance coverage of portable electronics

This bill would eliminate the insurance producer lines of authority for automobile and industrial fire and provide a transition for existing producer licenses and would add travel and crop insurance as limited lines insurance

This bill would also provide exceptions to the prelicensing course of study to qualify for an insurance producer license for those applicants with a college insurance degree and for applicants for the variable life and variable annuity line of authority

This bill would also provide an exception to the prelicensing examination requirement for an insurance producer license for those applicants for the variable life and variable annuity line of authority, but would require those applicants to be licensed for the life line of authority and also be registered under the securities law

This bill would also authorize the Commissioner of Insurance to prescribe by regulation alternative methods to serve administrative complaints

This bill would eliminate certain exemptions from the continuing education requirement for insurance producers, but would provide a grandfather provision for those currently exempt

This bill would eliminate the requirement for insurance producers to certify on the license renewal form whether they have complied with the continuing education requirement

This bill would require insurance licensees to notify the commissioner of any change in mailing address or electronic mail address within 30 days

This bill would authorize the commissioner to require new applicants for an insurance producer license to submit fingerprints and perform a criminal history background check

This bill would provide special licensing provisions for insurance coverage of portable electronics

Relating to insurance; to amend Sections 27-7-1, 27-7-5, 27-7-14.1, 27-7-17, 27-7-37, 27-8A-1, and 27-8A-6, Code of Alabama 1975, and to add Section 27-7-4.4 to the Code of Alabama 1975; to add Chapter 22A to Title 27, beginning with Section 27-22A-1, and to repeal Sections 27-7-20 and 27-7-21, Code of Alabama 1975; to eliminate the insurance producer lines of authority for automobile and industrial fire and provide a transition for existing producer licenses; to add travel and crop insurance as limited lines insurance; to provide exceptions to the prelicensing course of study to qualify for an insurance producer license for applicants with a college insurance degree and for applicants for the variable life and variable annuity line of authority; to authorize the Commissioner of Insurance to prescribe by regulation alternative methods to serve administrative complaints; to eliminate certain exemptions from the continuing education requirements of insurance producers while providing a grandfather provision for those currently exempt; to eliminate the requirement that insurance producers certify on the license renewal form whether they have complied with the continuing education requirement; to require insurance licensees to notify the commissioner of any change in mailing address or electronic mail address within 30 days; to authorize the commissioner to require applicants to submit fingerprints and to perform a criminal history record check of all new applicants; to define terms relating to insurance coverage of portable electronics; to require vendors to hold a certain license to offer a policy of portable electronics insurance; to provide certain requirements applicable to vendors of portable electronics insurance; to provide fees for a limited lines insurance producer license for portable electronics insurance; and to provide an effective date.