Every insurer shall file annually on, or before, July 1, with the rating organization of which it is a member or subscriber, or with such other common agency representing a group of insurers as the department may approve, and with the department a statistical report showing its premiums and its losses on all kinds of insurance to which this article is applicable, together with such other information as the department may deem necessary for the proper determination of the reasonableness and adequacy of rates. Such statistical report filed with the rating organization may be consolidated and filed by such common agency. Such data shall be kept and reports made in such manner and on such forms as may be prescribed by the commissioner. All such annual filings with the department shall be kept under lock and key, and any official or employee of the department who shall divulge the contents or permit the examination thereof, except for the purpose of properly administering the provisions of this article or upon the order of court, shall be guilty of a misdemeanor and shall be subject to a fine of not more than $50.00 and shall thereafter be ineligible to be an employee or agent of said department. Reasonable rules and plans may be promulgated by the commissioner, after consultation with all insurers and rating organizations affected thereby, for the interchange of loss experience necessary for the application of rating plans. In order to further uniform administration of rating laws, the commissioner and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers, and rating organizations in other states and may consult and cooperate with them with respect to rate-making and the application of rating systems. The commissioner may make reasonable rules and regulations necessary to effect the purposes of this article.
Structure Code of Alabama
Chapter 13 - Rates and Rating Organizations.
Article 3 - Casualty and Surety Insurance.
Section 27-13-60 - Definitions.
Section 27-13-61 - Applicability of Article.
Section 27-13-63 - Rating Organizations - Provisions for Insurers to Become Members or Subscribers.
Section 27-13-65 - Rate-Making and Making Rating Plans.
Section 27-13-67 - Filing of Rating Plans With Department by Insurers - Requirement.
Section 27-13-69 - Appeals From Decisions of Rating Organizations.
Section 27-13-70 - Furnishing Information as to Rates.
Section 27-13-71 - Hearings on Applications to Reduce Rates.
Section 27-13-72 - Application for Uniform Percentage Increase or Decrease in Rates by Insurers.
Section 27-13-73 - Factors to Be Considered in Determining Reasonableness, etc., of Rates.
Section 27-13-75 - Alteration, Supplementation, and Amendment of Rating Plans.
Section 27-13-76 - Prohibition Against Premiums Not in Accord With Approved Rating Systems.
Section 27-13-77 - False or Misleading Information Concerning Rates.
Section 27-13-78 - Suspension of License or Certificate of Authority.
Section 27-13-79 - Order Revoking or Suspending License.
Section 27-13-80 - Notices, Hearings, and Orders by Commissioner.
Section 27-13-81 - Review of Final Orders of Commissioner.