• Consumers


  • Producers/Agents


  • Companies


Notice of Regulation Hearing

to be held February 11, 2009

Contact: Elizabeth Bookwalter, Associate Counsel

334-241-4122

1/5/2009

 

Notice is hereby given that a hearing will be held at 10:00 AM on February 11, 2009, at the offices of the Alabama Department of Insurance, 201 Monroe Street, Suite 1700, Montgomery, Alabama, as follows:

 

Revision of Section 32 of Regulation No. 091 [Rule 482-1-091-.32], which sets forth the requirements for producer licensing and training with respect to long-term care insurance.  These revisions encompass changes regarding training for producers on the sale of long-term care insurance.  (4 pages)

 

Revision of Section 5 of Regulation No. 109 [Rule 482-1-109-.05], which sets forth the procedures for the annual continuation of appointments of producers and service representatives.  The revisions encompass changes necessary to require the annual continuation of appointments through the National Insurance Producer Registry (NIPR).  (3 pages)

 

Revision of Section 5 of Regulation No. 120 [Rule 482-1-120-.05], which sets forth the general calculation requirements for basic reserves and premium deficiency reserves for life insurance policies.  The proposed revisions encompass changes necessary to eliminate artificial constraints from the regulation for the calculation of X factors.  (6 pages)

 

Revision of Section 4 of Regulation No. 139 [Rule 482-1-139-.04], which allows for the use of the 2001 CSO Preferred Class Structure Table.  The proposed revision allows the new table to be used from the date the table was initially approved for use in this state (2004), instead of a later application (2007).  (1 page)

 

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 Brenda.Camp@insurance.alabama.gov