Bill Title: Relating to insurance; to define lender-placed insurance on real property and provide a framework for regulating lender-placed insurance; to require separation between lenders and insurers and define unfair competitive practices in the sale, placement, solicitation, and negotiation of lender-placed insurance; to further provide for the term of the lender-placed insurance on real property and for the calculation of coverage and payment of premium; to provide for prohibited practices in the issuance of lender-placed insurance on real property; to require certain details of the insurance to be set forth in the policy or certificate of insurance; to require for the filing and approval by the Department of Insurance of the forms and rates to be charged for the insurance; to provide for the enforcement of the act and penalties for violations of the act; and to provide for judicial review of orders of the Commissioner of Insurance.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2023-03-22 - Carry Over by House Insurance [HB58 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-03-06	PDF	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Alabama HB58

Supplemental Documents

Title	Description	Date	Format	Source	View
Fiscal Note	As Introduced	Not Avail	PDF	Link	View