SR74 Summary

• Establishes the special order of business for the twenty-second legislative day of the 2012 Regular Session, with five bills designated as paramount priority.

• SB210: Requires the Insurance Department to collect and post aggregate homeowners insurance policy and premium information by county and zip code, with penalties for non-compliant companies under the Property Insurance Clarity Act.

• SB227: Creates a catastrophe savings account for residential property owners to cover insurance deductibles and uninsured portions of losses from windstorm events, with an income tax deduction for deposits.

• SB230: Provides insurance premium tax credits for private property carriers writing homeowners coverage in Zones 1-4 areas covered by the Alabama Insurance Underwriting Association.

• SB464: Expands death and disability benefits for occupational disease to include cerebral vascular accidents or strokes for municipal firefighters, and modifies occupational disease definitions for state firefighters.

• SB164: Regulates domestic insurer investments by prohibiting certain activities, restricting custodial arrangements for securities, and limiting use of financial institutions for asset holdings outside the state.