|Committee: Banking and Insurance||Sponsor: Shelnutt|
|Analyst: Julie Knight||Date: 02/08/2021|
Senate Bill 69 as introduced exempts flood insurance from rate filings and approval of those rates before use. This bill would expand the market for flood insurance in Alabama and could increase receipts to the State General Fund by an undetermined amount dependent upon the number of policies written. This bill would also increase the obligations of the Department of Insurance by an undetermined amount dependent upon the number of additional filings that require analysis and review.
|Shay Shelnutt, Chairperson|
Banking and Insurance