Ala. Admin. Code r. 482-1-135-.03

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-135-.03 - Definitions

The following definitions apply to the terms of this chapter as used herein:

(1) CLAIM. Any matter on which there is a dispute or for which the insurer has denied payment due to claim arising out of damages to residential property caused by hurricanes and tropical storms, tornados, and other disasters. Unless the parties agree to meditate a claim involving a lesser amount, a "claim" involves the insured requesting $500 or more to settle the dispute or the difference between the positions of the parties is $500 or more, in either case notwithstanding any applicable deductible. "Claim" does not include a dispute with respect to which the insurer has reported allegations of fraud, based on an investigation by the insurer, to the Department.

(2) DEPARTMENT. The Alabama Department of Insurance.

(3) INSURER. An insurer, as defined in Section 27-1-2, authorized to provide property insurance on risks located in the State of Alabama.

(4) MEDIATOR. An individual selected by the Department and approved by the parties to meditate disputes pursuant to this chapter. The mediators will be selected from a panel of mediators approved by the Alabama Department of Insurance.

(5) PARTY OR PARTIES. The insured and his or her insurer, including the Alabama Insurance Underwriting Association (Beach Pool), the National Flood Insurance Program and insurers who write flood insurance in conjunction with the National Flood Insurance Program, when applicable.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-135-.03

New Rule: December 21, 2005; effective December 31, 2005. Filed with LRS December 21, 2005. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, § 27-2-17.