The Alabama Legislature is considering a bill that would give up to $2.5 million to private insurance companies in exchange for writing policies for coastal properties.
The measure is designed to shrink the size of the Alabama Insurance Underwriters Association, the state’s insurer of last resort. Companies would have to write policies for up to 1,000 properties now covered by the association to get the state money.
Bill sponsor Rep. Randy Davis said his preference is for the money to be taken from the state’s general fund.
Topics Alabama
Was this article valuable?
Here are more articles you may enjoy.
Sentry to Sponsor PGA Tournament at Torrey Pines 
Warmer World Means Bigger Hail and More Damage, Study Finds 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
Florida Supreme Court Posts New Rule on AI Hallucinations in Court Filings From This Issue
