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Notice of Regulation Hearing

to be held May 21, 2003

Contact: Elizabeth Bookwalter, Associate Counsel

334-241-4122

4/4/2003

           

Notice is hereby given that a hearing will be held at 10:00 AM on Wednesday, May 21, 2003, at the offices of the Alabama Department of Insurance, 201 Monroe Street, Suite 1700, Montgomery, Alabama, as follows:

 

  • Revision of Regulation No. 77 [Chapter 482-1-077], which defines the use of clearing corporations and Federal Reserve Book-Entry Systems by domestic insurance companies and sets out requirements of custody agreements.  (22 pages)
  • Revision of Regulation No. 88 [Chapter 482-1-088], which clarifies questions on marketing practices that offer some form of free gifts, benefits, etc., and the amount of the free gifts, benefits, etc.  (4 pages)
  • Adoption of proposed new Regulation No. 124 [Chapter 482-1-124], to be known as Standards for Life, Accident and Health Insurance Claims Regulation.  It sets forth minimum standards for the investigation and disposition of life, accident and health claims arising from policies issued in this state.  (14 pages)
  • Adoption of proposed new Regulation No. 125 [Chapter 482-1-125], to be know as Standards for Property/Casualty Insurance Claims Regulation.  It sets forth minimum standards for the investigation and disposition of property and casualty claims arising from policies issued in this state.  (20 pages)

Any person wishing to submit testimony at said hearing is requested to submit said testimony in writing to the Alabama Department of Insurance, Attention: Legal Division, Post Office Box 303351, Montgomery, Alabama 36130-3351.  Any written submission of testimony prior to the hearing will not preclude anyone from making an oral or written presentation at the hearing.

 

A copy of the regulations may be obtained by written request to the Alabama Department of Insurance, Post Office Box 303351, Montgomery, Alabama 36130-3351.  The request must include payment of one dollar per page and a self-addressed, postage paid return envelope.  An unofficial copy may also be obtained at no charge via electronic mail.  You may send an e-mail request to DSmith@insurance.state.al.us