HB60 is a legislative bill that proposes significant changes to the Alabama Code of 1975 regarding the licensing of insurance producers, independent adjusters, apprentice independent adjusters, and title insurance agents. The bill seeks to eliminate the prelicensing education requirement for these professionals, allowing them to obtain licenses without completing a preapproved course of study by the Commissioner of Insurance. It also discontinues the issuance of new service representative licenses while permitting current licensees to renew their licenses. The bill removes language mandating prelicensing education for certain lines of authority and professional designations, and it modifies the application process for insurance producer licenses by removing the requirement for a service representative license application and adjusting the conditions for license approval. Additionally, the bill allows for the electronic filing and payment of fees and outlines conditions for requesting a waiver of license renewal procedures.

The bill also addresses specific changes for independent adjusters and title insurance agents. Independent adjusters who fail two examinations for a particular line of insurance must wait three months before retaking the exam, and if they fail two additional times, they must wait six months. Certain individuals are exempt from the prelicensing course or examination. For title insurance agents, the bill removes the requirement for a prelicensing course and instead requires passing an examination. The bill specifies criteria for business entities to be approved as title insurance agents and revises the examination process, allowing the commissioner to contract with an outside testing service. Exemptions from the examination requirement are provided for individuals with certain qualifications or experience. The act is set to become effective on January 1, 2024.

Statutes affected:
Introduced: 27-7-5, 27-7-14, 27-9A-6, 27-9A-8, 27-9A-9, 27-9A-11, 27-25-4, 27-25-4
Enrolled: 27-7-5, 27-7-14, 27-9A-6, 27-9A-8, 27-9A-9, 27-9A-11, 27-25-4, 27-25-4