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AL HB726
Bill
Status
4/19/2012
Primary Sponsor
Joseph Mitchell
Click for details
AI Summary
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Requires all rate filings and related actuarial information for homeowner's insurance coverage in Alabama filed after the effective date to be treated as public information.
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Makes rate filings and actuarial information available for public review at the office of the Commissioner of Insurance in Montgomery, Alabama and via the Department of Insurance website.
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Exempts proprietary actuarial risk analysis, forecasting information, and statutorily restricted information from public disclosure as commercially valuable trade secrets under Chapter 27 of Title 8, Code of Alabama 1975.
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Requires confidential information to be submitted under separate cover with a clear statement of confidentiality desires and maintained separately from public records, with the Department of Insurance unable to release it absent a court order.
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Becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Homeowners insurance, rate filings and related actuarial information for homeowners property insurance coverage in Alabama are public record, review available in office of Insurance Commissioner and via Insurance Department Internet website, exceptions regarding confidential information
Insurance Department
Last Action
Read for the first time and referred to the House of Representatives committee on Insurance
4/19/2012