The bill HB60 amends 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, as indicated by the deletions from Sections 27-7-5 and 27-7-14.1. The bill also eliminates the issuance of new service representative licenses, allowing only current licensees to renew their licenses under specific conditions. Additionally, it establishes that any service representative license that expires and is not renewed within 12 consecutive months cannot be reactivated, aiming to streamline the licensing process for insurance professionals in Alabama.

Further amendments include the introduction of an apprentice independent adjuster license, allowing individuals to work under a licensed adjuster while preparing for the required examination. The bill raises the minimum age requirement for title insurance agents to 19 and maintains the necessity of passing an examination while eliminating the prelicensing course requirement. It also allows the commissioner to contract with non-governmental entities for administrative functions related to licensing and mandates electronic submission of applications and fees. Overall, these changes are designed to reduce barriers for qualified applicants and create a more flexible and accessible licensing framework in the insurance industry, with the act set to take effect on January 1, 2024, pending 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