The purpose of this chapter is to set forth the financial and reporting requirements which the Commissioner deems necessary for the regulation of captive insurance companies, as authorized by Sections 27-31B-1, et seq., Code of Ala. 1975. Reference hereunder to “company” shall mean captive insurance company or companies, unless otherwise specified.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§27-2-17; 27-7-43, 27-31B-17.

History: New Rule: August 1, 2006; effective August 11, 2006. Filed with LRS August 1, 2006. Rule is not subject to the Alabama Administrative Procedure Act.