SB69 Summary

• Amends Section 27-13-21 of the Code of Alabama 1975 to exempt flood insurance from rate filing and approval requirements.

• Adds "flood insurance" to the list of insurance types excluded from the article's provisions, along with reinsurance, aviation insurance, and marine insurance.

• Maintains the application of rate filing and approval requirements to flood insurance for motor vehicles only.

• Becomes effective immediately upon passage and approval by the Governor or upon otherwise becoming law.