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AL SB587
Bill
AI Summary
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Establishes a process within the Department of Insurance to assist Alabama citizens in understanding, evaluating, and comparing insurance products for personal and commercial lines.
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Authorizes the commissioner to train personnel to meet with citizen groups, develop a computer system for comparing insurance policy features and rates, and implement an outreach program for new insurers entering the Alabama market.
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Requires the commissioner to compile and release annually a list of all written requests for assistance received by the department, with separate itemization of each request and the insurance line involved.
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Mandates the commissioner's annual report to the Governor and legislative committees be posted on the department's website and include financial statements, insurer information, and departmental recommendations.
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Becomes effective January 1, 2011, following passage and approval by the Governor.
Legislative Description
Insurance Department, process for consumer assistance, established, posting of certain information on Internet, legislative reports, Secs. 27-2-8.1, 27-2-8.2 added; Sec. 27-2-9 am'd.
Insurance Department
Last Action
Read for the first time and referred to the Senate committee on Banking and Insurance
4/1/2010