Ala. Admin. Code r. 482-1-036-.05

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-036-.05 - Eligible Surplus Line Insurers

(1) At appropriate times this Department will under the authority of Section 27-10-26 publish lists of certain unauthorized insurers which are known by this Department to be ineligible either as to financial requirements or as to claim practices. No inference should be drawn that surplus line insurers other than those so prohibited have been approved by this Department. The law clearly places this responsibility on the broker. No lists of approved insurers will be published by this Department. Eligible Surplus Line Insurers that write business in Alabama should refer to the Filing Requirements for Surplus Line Insurance Companies, which is located on the Department of Insurance website for instructions on filings to be made with the Department of Insurance.

(2) The National Association of Insurance Commissioners has established the International Insurers Department. The services of that office are available to surplus line brokers and others who may be interested by the payment of an annual subscription fee. That office can furnish a listing of alien non-admitted insurers that have filed financial data with one or more states or with a surplus line association cooperating with a state. The annual subscription fee will entitle each subscriber to these listings as issued and upon request copies of the independent insurer financial statement data at an additional minimal reproduction cost.

New Rule: September 23, 1963. Revised: February 28, 1977; effective March 10, 1977. Revised: April 17, 1989; effective April 28, 1989. Amended: August 12, 2008; effective August 22, 2008. Filed with LRS August 13, 2008. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-10-1, et seq.