Code of Alabama - Title 27: Insurance - Chapter 22 - Property Insurance Contracts

• Article 1 Property Insurance Controls.
• Section 27-22-1 Insurance of building in name of less than all owners
  As to every insurance contract insuring any dwelling or other building and written in the name of less than all of the joint owners or...
• Section 27-22-2 Industrial fire insurance policies
  (a) Industrial fire insurance policies are policies issued by insurers writing fire and allied lines of insurance through agents operating on the debit agency system...
• Article 2 Property Insurance Clarity Act.
• Section 27-22-20 Short title
  This article shall be known and may be cited as the Property Insurance Clarity Act.
• Section 27-22-21 Policy and premium information to be submitted to the Department of Insurance
  (a) Each insurance company authorized to transact homeowners insurance business in the State of Alabama shall annually submit to the department for homeowners insurance policies,...
• Section 27-22-22 Rate-making methodologies
  The department shall also post on the department website a general description of the rate-making methodology that the department allows insurance companies to use in...
• Section 27-22-23 Submission of information and compilation of aggregate totals
  Commencing on October 1, 2013, each insurance company authorized to transact homeowners insurance business in this state shall provide the information required pursuant to subsection...
• Section 27-22-24 Reporting requirements; waiver, modification, etc.; failure to comply
  (a) Upon written request of an insurance company, the commissioner may waive, modify, or extend for an additional time period, for good cause shown, the...
• Section 27-22-25 Confidentiality of information
  Any information reported to the department by an insurer pursuant to this article is considered a commercially valuable trade secret as defined in Section 8-27-2,...
• Article 3 Alabama Homeowners Bill of Rights Act.
• Section 27-22-40 Purpose, intent, short title
  (a) The purpose of this article is to set forth the rights Alabama homeowners have with respect to their insurance policies and with insurance companies....
• Section 27-22-41 Applicability; definitions
  (a) This article shall apply to all insurance companies authorized under a certificate of authority for property insurance and writing homeowners and other personal lines...
• Section 27-22-42 Policyholders Bill of Rights
  The following shall serve as the minimum standards to be followed by the Alabama Department of Insurance in exercising the department's powers and duties in...
• Section 27-22-43 Outline of coverage and comprehensive policy checklist
  (a) No homeowners personal lines residential property coverage insurance policy shall be delivered or issued for delivery in this state unless an appropriate outline of...
• Section 27-22-44 Cause of action
  Any violation of this article or any provision therein shall be enforceable only by the Department of Insurance as provided herein. Nothing in this article...
• Section 27-22-45 Violations and penalties
  The failure of an insurance company writing homeowners personal lines residential property coverage insurance policies in this state to comply with the material provisions of...
• Article 4 Insurance Payments to Lender.
• Section 27-22-60 Definitions
  As used in this article, the following terms shall have the following meanings: (1) LENDER. A person who holds a mortgage, lien, deed of trust,...
• Section 27-22-61 Notice to insured of requirements for release of insurance proceeds
  (a) If a claim under an insurance policy for damage to residential real property is paid to the insured and a lender, and the lender...
• Section 27-22-62 Duties of lenders upon request of release
  Not later than 10 days after the date a lender receives from the insured a request for release of all or part of the insurance...
• Section 27-22-63 Failure to provide notice or to release insurance proceeds
  A lender who fails to provide notice as required by Section 27-22-61 or Section 27-22-62 or to release insurance proceeds as required by Section 27-22-62 shall pay to the insured interest at...
• Section 27-22-64 Accrual of interest
  (a) If a lender fails to provide notice as required by Section 27-22-61 or Section 27-22-62, interest begins to accrue on the date the lender received the insurance...
• Section 27-22-65 Construction of article
  Nothing in this article shall impact any rights of a lender, whether provided by law or by an agreement with a borrower or mortgagor.

Last modified: May 3, 2021