The bill HB60 amends various sections of the Code of Alabama 1975 concerning the licensing of insurance producers, independent adjusters, apprentice independent adjusters, and title insurance agents. A significant change is the removal of the requirement for individuals to complete a prelicensing course of study approved by the Commissioner of Insurance before obtaining their licenses. This deletion applies to Sections 27-7-5, 27-7-14.1, and other related sections. The bill also eliminates the issuance of new service representative licenses, allowing only current licensees to renew their licenses under specified conditions. Additionally, it mandates that insurers selling limited line credit insurance provide a program of instruction for those involved in selling or negotiating such insurance.

Further amendments include the introduction of an apprentice independent adjuster license, which permits individuals to work under a licensed adjuster while preparing for the independent adjuster examination. The bill specifies that applicants for a title insurance agent license must be at least 19 years old and meet certain residency and conduct requirements, while also removing the necessity of completing a prelicensing course. The commissioner is granted authority to contract with non-governmental entities for administrative functions related to licensing, and the examination process is updated to accommodate individuals who fail the exam multiple times. Overall, these changes aim to streamline the licensing process, reduce barriers for applicants, and ensure compliance with state insurance laws, with the act set to take effect on January 1, 2024, following the Governor's approval.

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