Code of Alabama - Title 27: Insurance - Chapter 5 - Kinds of Insurance; Limits of Risk; Reinsurance

• Section 27-5-1 Definitions not mutually exclusive; exceptions to applicability of chapter
  (a) It is intended that certain insurance coverages may come within the definitions of two or more kinds of insurance as defined in this chapter,...
• Section 27-5-2 "Life insurance" defined
  "Life insurance" is insurance on human lives. The transaction of life insurance includes also the granting of endowment benefits, additional benefits in event of death...
• Section 27-5-3 "Annuity" defined
  For the purpose of this title, an "annuity" is a contract under which obligations are assumed with respect to periodic payments for a specific term,...
• Section 27-5-4 "Disability insurance" defined
  "Disability insurance" is insurance of human beings against bodily injury, disablement or death by accident or accidental means, or the expense thereof, or against disablement...
• Section 27-5-5 "Property insurance" defined
  "Property insurance" is insurance on real or personal property of every kind and of every interest therein, whether on land, water, or in the air,...
• Section 27-5-6 "Casualty insurance" defined
  (a) "Casualty insurance" includes: (1) VEHICLE INSURANCE. Insurance against loss of, or damage to, any land vehicle or aircraft, or any draft or riding animal...
• Section 27-5-7 "Surety insurance" defined
  "Surety insurance" includes: (1) Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; (2) Insurance guaranteeing the...
• Section 27-5-8 "Marine insurance" defined
  "Marine insurance" includes: (1) Insurance against any and all kinds of loss or damage to: a. Vessels, craft, aircraft, cars, automobiles and vehicles of every...
• Section 27-5-9 "Wet marine and transportation insurance" defined
  For the purposes of this title, "wet marine and transportation insurance" is that part of marine insurance which includes only: (1) Insurance upon vessels, crafts,...
• Section 27-5-10 "Title insurance" defined
  "Title insurance" is insurance of owners of property, or others having an interest therein or liens or encumbrances thereon against loss by encumbrance, or defective...
• Section 27-5-11 Limits of risk
  (a) No insurer shall retain any risk on any one subject of insurance, whether located or to be performed in this state or elsewhere, in...
• Section 27-5-12 Reinsurance
  Repealed by Act 2013-209, §2, effective January 1, 2014.
• Section 27-5-13 Denial of health or disability insurance coverage upon diagnosis of sickle-cell anemia prohibited
  Notwithstanding any other provision of law, any insurance company doing business within the state which offers health or disability insurance, is hereby prohibited from denying...

Last modified: May 3, 2021