Free Alabama Insurance FAQs | Free Alabama Insurance Legal Documents

How Do I Renew My License?

Tue, 29 May 2007 21:19:00 GMT

A notice is mailed to each surplus line broker on October 1st of each year indicating the renewal fees due and providing the surplus line broker an opportunity to update any information, change of address for example. The notice and fees should be returned by midNovember for processing as licenses expire December 31st. Renewal licenses are mailed directly to the surplus line broker.

How Does A Service Representative Become Licensed?

Tue, 29 May 2007 21:19:00 GMT

Complete an application (Form AL 1020, Rev. 8/99) http://www.aldoi.org/iView/page.cfm?view=52 and pay a $40.00 fee.
No written examination is required, but service representatives must complete the 40hour prelicensing course.
Must be a salaried employee of an insurer/company and be authorized to work for or through agents in soliciting and negotiating insurance for such insurers/companies.

How Does An Adjuster Become Licensed?

Tue, 29 May 2007 21:19:00 GMT

Complete an application (Form 90) http://www.aldoi.org/iView/page.cfm?view=52 and pay a $40.00 licensing fee.
Once an application has been approved and fees paid, the individual is licensed. NOTE: An examination is not required.
Fees shall be refunded if the application for license is denied.
Firms and corporations, as well as individuals, may become licensed adjusters. Each individual associated in such firm or corporation and who exercises, or proposes to exercise, license powers shall file an application, pay the license fee, and qualify as if applying for an individual license. The license issued to a firm or corporation shall list all individuals who are authorized to act as adjusters, or separate licenses may be issued.

How Is A Managing General Agent's License Renewed?

Tue, 29 May 2007 21:19:00 GMT

Form ALMGA4 (594) http://www.aldoi.org/iView/page.cfm?view=52 is mailed to the appointing insurer that has appointed the MGA for completion and the payment of renewal fees.
The form and fees must be received by December 31st for renewal to occur. If the MGA is not renewed by December 31st, the license and appointment expires and a new application must be filed for the MGA to be relicensed.

How Is A Managing General Agent's License Terminated?

Tue, 29 May 2007 21:19:00 GMT

Form ALMGA3 (1/94) http://www.aldoi.org/iView/page.cfm?view=52 must be completed and mailed to the Insurance Department in order to cancel the appointment of an MGA.
Company officials must sign the form.

How Is A Surplus Lines Broker Licensed?

Tue, 29 May 2007 21:19:00 GMT

An applicant must complete an application (AL Form SLB1) http://www.aldoi.org/iView/page.cfm?view=52 and a bond (AL Form SLB13) http://www.aldoi.org/iView/page.cfm?view=52 and pay a licensing fee of $50.00. The bond is in the sum of $50,000 aggregate liability, but the amount may vary according to the amount of surplus lines taxes paid the previous year.

What Application Form Must I Fill Out?

Tue, 29 May 2007 21:19:00 GMT

You must fill out the following form: AL Form DE40.

What Application Form Must I Fill Out?

Tue, 29 May 2007 21:19:00 GMT

You must fill out the following forms:

AL Form 70 Rev. 1/89
AL Form 20B Rev. 10/96
AL Form 40B Rev. 10/96

These forms can be located at the following Web address: http://www.aldoi.org/iView/page.cfm?view=52

What Are The General Requirements For Surplus Lines Insurance?

Tue, 29 May 2007 21:19:00 GMT

If certain insurance coverage cannot be obtained on terms acceptable to the insured from authorized insurers, insurance called surplus line may be obtained from unauthorized insurers.
The insurance must be procured through a licensed surplus line broker.
The full amount of insurance required must not be procurable, after diligent effort, from among the insurers authorized to transact that kind and class of insurance.
The insurance must not be procured for the purpose of securing the advantage of a lower premium rate than would be accepted by authorized insurers.
Within 30 days of the effective date, the surplus line broker shall file a written report (Form ID12) http://www.aldoi.org/iView/page.cfm?view=52 validating coverage was written through the unauthorized market.

What Are The Necessary Qualifications To Become A Broker?

Tue, 29 May 2007 21:19:00 GMT

The following qualifications must be met in order to become a Broker:

Must be at least 19.
Must be a citizen of the United States of America, Mexico or Canada.
Must be of good moral character and not have been convicted of a felony nor any crime involving moral turpitude.
Must have at least two years of experience as an insurance agent or experience in a comparable position working for an insurance company, agency or brokerage firm during the three years immediately proceeding the date of application.

What Are The Necessary Qualifications To Become A Dental Service Representative?

Tue, 29 May 2007 21:19:00 GMT

Must be trustworthy, of good moral character, and not have been convicted of a felony or any crime involving moral turpitude, unless fully pardoned with restoration of civil rights.
Must possess adequate knowledge and technical competence to engage in the transactions for dental service contracts.
Shall be subject to the same regulations and controls as disability insurance representatives.

What Are The Necessary Qualifications To Become A Legal Service Representative?

Tue, 29 May 2007 21:19:00 GMT

Must be trustworthy, of good moral character, and not have been convicted of a felony or any crime involving moral turpitude, unless fully pardoned with restoration of civil rights.
Must possess adequate knowledge and technical competence to engage in transactions for legal service insurance contracts.
Shall be subject to the same regulations and controls as apply to insurance agents.
Must be at least 19 years old.

What Are The Necessary Qualifications To Become A Motor Club Representative?

Tue, 29 May 2007 21:19:00 GMT

Must be capable of soliciting automobile club or association memberships.
Must be of good moral character.
Sales agents are subject to the same requirements with respect to suspension, revocation, renewal and reinstatement of license as property, casualty and surety insurance agents.

What Are The Necessary Qualifications To Become A Service Representative?

Tue, 29 May 2007 21:19:00 GMT

The following qualifications must be met in order to become a service representative:

Must be at least 19.
Must be a citizen of the United States of America, Mexico or Canada.
Must be of good moral character and not have been convicted of a felony nor any crime involving moral turpitude.

What Are The Necessary Qualifications To Become A Surplus Lines Broker?

Tue, 29 May 2007 21:19:00 GMT

The necessary qualifications include but are not limited to the following:

Must be licensed as a resident agent or broker in property, casualty, and surety insurance.
Must be determined that you have had sufficient experience in the insurance business to be reasonably competent.

What Are The Necessary Qualifications To Become An Adjuster?

Tue, 29 May 2007 21:19:00 GMT

Must be at least 19 years old.
Must be a resident of Alabama or a resident of another state which will permit residents of Alabama to act as adjusters in their state.
Must be a fulltime salaried employee of a licensed adjuster, or a graduate of a recognized law school. If these two qualifications are not met, then you must have had experience or special education or training involving the handling of loss claims under insurance contracts. The experience must have been of sufficient duration and extent to make you reasonably competent to fulfill the responsibilities of an adjuster.
Must be trustworthy and of good character.

What Are The Necessary Requirements To Become An Agent?

Tue, 29 May 2007 21:19:00 GMT

The following qualifications must be met in order to become an insurance agent:

Must be 19 or older to apply for the life and disability lines of insurance.
Must be 19 or older or an individual whose disabilities of minority have been removed to apply for the property and casualty lines of insurance.
Must be a citizen of the United States of America, Mexico, Canada, or a permanent resident under United States immigration laws.
Must be of good moral character and not have been convicted of a felony nor any crime involving moral turpitude.
Must attend a prequalification course consisting of 40 classroom hours or equivalent of individual instruction on the general principles of insurance.

What Are The Procedures/Policies Regarding The Suspension Or Revocation Of A Surplus Lines Broker License?

Tue, 29 May 2007 21:19:00 GMT

A Surplus Lines Broker`s license may be revoked if the broker fails to file his annual statement, remit the annual tax required by law, maintain the appropriate bond, maintain an office in the state to keep records or not allow examination of records. In addition, the Commissioner may suspend or revoke the broker`s license if he finds that the broker has, willfully or without exercise of due care, placed any insurance coverage with an unauthorized (non admitted) insurer in violation of any of the Alabama code requirements.

What Are The Rules And Regulations Regarding Partnerships And Corporations?

Mon, 04 Jun 2007 21:51:22 GMT

Corporations engaging in insurance activities must be licensed as corporate agents.
Application Form AL70C http://www.aldoi.org/iView/page.cfm?view=52 must be completed and accompanied with a $50 fee per line of insurance.
The Articles of Incorporation must be filed along with Form AL70C and must contain language indicating that one of the purposes for forming the corporation was to engage in insurance activities.
Form AL20C http://www.aldoi.org/iView/page.cfm?view=52 along with a $7.50 fee, must be filed for each person employed by the corporation and engaged in insurance activities.
Corporations will be licensed to sell life lines, such as life disability, credit life, credit disability and variable annuities or property and casualty which includes comprehensive property and casualty, auto full coverage, auto physical damage, physical damage or household goods, credit property and bail bonds.

What Information Must Be Stated On A Managing General Agent's License?

Tue, 29 May 2007 21:19:00 GMT

The license of a managing general agent shall state the name and address of the licensee, the name of the insurer (company) to be represented, date of issue and of expiration and the general conditions of the license. Licensees must have a separate appointment for each insurer. The total application fee is $155.00, representing an application fee of $30.00, an examiner`s fee of $100.00, and a license/appointment fee of $25.00.
All managing general agent licenses shall continue in force until expired, suspended, revoked or otherwise terminated.

What Is A Broker?

Tue, 29 May 2007 21:19:00 GMT

A Broker is an individual, partnership or corporation who, for compensation, (not being a licensed agent for the company in which a policy of insurance is placed) acts or aids in any manner in placing risks or effecting insurance for a party other than himself or itself.

What Is A Dental Service Representative?

Tue, 29 May 2007 21:19:00 GMT

A Dental Service Representative is an individual licensed to represent a dental care service provider that has been authorized by the Insurance Commissioner to conduct business in this state.

What Is A Legal Service Representative?

Tue, 29 May 2007 21:19:00 GMT

A legal service representative is an individual appointed to represent a legal service insurance corporation that has been authorized by the Insurance Commissioner to conduct a prepaid legal expense insurance business in Alabama.

What Is A Managing General Agent?

Tue, 29 May 2007 21:19:00 GMT

A Managing General Agent is an individual, firm or corporation appointed as an independent contractor by one or more insurers for the principal purpose of exercising general supervision over the business of the insurer in Alabama, with authority to appoint agents for such insurers and to terminate such appointments. A managing general agent is not authorized for countersignature privileges.

A managing general agent shall otherwise qualify and be licensed as provided in the Alabama code, but shall not be required to take and pass an examination nor be a resident of Alabama. A Managing General Agent must be licensed for each insurer represented and for each class of insurance handled by the insurer in this state.

What Is A Motor Club Representative?

Tue, 29 May 2007 21:19:00 GMT

A Motor Club Representative is an individual licensed to represent an automobile club or association that has been authorized by the Insurance Commissioner to conduct business in this state.

What Is A Service Representative?

Tue, 29 May 2007 21:19:00 GMT

A service representative works for, with or through agents in soliciting, negotiating and effectuating insurance for the insurer. A service representative is a natural person, other than an officer, manager or managing general agent of the insurer.

What Is A Surplus Lines Broker?

Tue, 29 May 2007 21:19:00 GMT

A Surplus Lines Broker is a licensed property and casualty broker or agent who is unable to obtain insurance through an authorized insurer who then obtains coverage that is considered surplus lines through an unauthorized insurer.

What Is An Adjuster?

Tue, 29 May 2007 21:19:00 GMT

An Adjuster is a person who, for compensation as an independent contractor, or as the employee of an independent contractor or for fee or commission, investigates and negotiates the settlement of claims arising under insurance contracts on behalf of the insurer.

What Is The Alabama Definition Of An Insurance Agent?

Tue, 29 May 2007 21:19:00 GMT

An agent is a natural person, partnership or corporation appointed by an insurer to solicit and negotiate insurance contracts on its behalf.

What Is The Annual Renewal Process For A Service Representative?

Tue, 29 May 2007 21:19:00 GMT

Renewal forms are mailed to service representatives to complete and update any changes. Annual license renewal applications are due in the licensee`s birth month.

What Is The Annual Renewal Process For An Adjuster?

Tue, 29 May 2007 21:19:00 GMT

A renewal roster is sent to each Adjuster Company listing all adjusters (agents) subject to renewal and the fees due.
The Adjuster Company submits a notice of cancellation for any adjuster (agents) that should not be renewed and subtracts the equivalent renewal fees from the total renewal fees indicated.
Renewal rosters should be returned by mid November to allow processing time. Adjuster licenses expire on December 31 of each year if not renewed.
After January 1 of each year a renewal roster confirming the adjusters renewed is mailed to the adjuster companies.

What Is The Renewal Process For Corporations?

Tue, 29 May 2007 21:19:00 GMT

Corporate renewals are mailed the first of October each year.
Renewal fee is $50 per line or a maximum of $100.00.
Renewals must be filed by December 31 of each year or license will expire. Renewal licenses are mailed to each corporation after January 1st.
A Corporation who fails to file by December 31st cannot be renewed, and must refile the appropriate corporation licensing documents.

Where Can I Get The Application Form?

Tue, 29 May 2007 21:19:00 GMT

The form required is AL Form 1020. This form and all other forms can be found at the following address: http://www.aldoi.org/iView/page.cfm?view=52

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