1 SB69
2 209003-2
3 By Senator Shelnutt
4 RFD: Banking and Insurance
5 First Read: 02-FEB-21
6 PFD: 01/25/2021
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1 SB69
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4 ENROLLED, An Act,
5 Relating to insurance, to amend Section 27-13-21,
6 Code of Alabama 1975; to exempt flood insurance from the rate
7 filing and approval requirement.
8 BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
9 Section 1. Section 27-13-21 of the Code of Alabama
10 1975, is amended to read as follows:
11 "27-13-21.
12 "(a) This The provisions of this article shall apply
13 to insurance against loss to property located in this state,
14 or to any valuable interest therein, by fire, lightning,
15 windstorm, explosion, or by theft or physical damage to motor
16 vehicles and all other kinds of insurance which fire insurance
17 companies are authorized to write in this state, except this
18 article shall not apply to reinsurance, aviation insurance,
19 flood insurance, and marine insurance, which term shall mean,
20 and include, insurance and reinsurance against any, and all,
21 kinds of loss or damage to all of the following subject
22 matters of insurance and interests therein:
23 "(1) Hulls, vessels, and craft of every kind;.
24 "(2) Aids to navigation;.
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1 "(3) Dry docks and marine railways, including marine
2 builders' and repairers' risks, and whether complete or in
3 process of, or awaiting, construction;.
4 "(4) All marine protection and indemnity risks; and.
5 "(5) All goods, freights, cargoes, merchandise,
6 effects, disbursements, profits, moneys monies, bullion,
7 precious stones, securities, choses in action, evidences of
8 debt, valuable papers, bottomry and respondentia interest, and
9 all other kinds of property and interests therein, in respect
10 to, appertaining to, or in connection with any and all risks
11 or perils of navigation, transit, or transportation on or
12 under any seas, lakes, rivers, or other waters, or in the air
13 or on land in connection with, or incident to, export, import,
14 or waterborne risks, or while being assembled, packed, crated,
15 baled, compressed, or similarly prepared for such shipment, or
16 while awaiting the same, or during any delays, storage,
17 transshipment, or reshipment incident thereto, including the
18 insurance of war risks in respect to any or all of the
19 aforesaid subject matters of insurance.
20 "(b) This The provisions of this article shall,
21 however, apply to inland marine insurance in the manner
22 provided in Section 27-13-22, and to flood insurance for motor
23 vehicles."
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1 Section 2. This act shall become effective
2 immediately following its passage and approval by the
3 Governor, or its otherwise becoming law.
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4 President and Presiding Officer of the Senate
5
6 Speaker of the House of Representatives
7 SB69
8 Senate 11-FEB-21
9 I hereby certify that the within Act originated in and passed
10 the Senate.
11
12 Patrick Harris,
13 Secretary.
14
15
16
17 House of Representatives
18 Passed: 01-APR-21
19
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21 By: Senator Shelnutt
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Statutes affected:
Introduced: 27-13-21
Enrolled: 27-13-21