SB4 Summary

• All rate filings and related actuarial information for homeowner's insurance coverage filed after the effective date shall be treated as public information in Alabama.

• Rate filings and actuarial information shall be available for public review at the Commissioner of Insurance office in Montgomery, Alabama and via the Department of Insurance website.

• Proprietary actuarial risk analysis, forecasting information, or information restricted by statute or rule are classified as trade secrets under Chapter 27 of Title 8, Code of Alabama 1975 and shall remain confidential.

• Confidential trade secret information must be submitted under separate cover with clearly stated confidentiality designations and shall be maintained separately from public records by the Department of Insurance.

• The Department of Insurance must provide at least 10 business days' notice to the applicable entity if confidential information is requested by court order.

• The act becomes effective on the first day of the third month following passage and Governor approval.