AL.com has a summary of a few coastal insurance reform bills currently making their way through the Alabama state legislature.
Two of them that would allow entities called “surplus insurers” to begin writing policies in the state passed their respective legislative committees Wednesday. These bills are designed to increase competition in the state’s insurance market.
An additional bill that would provide tax breaks for companies offering insurance in riskier areas was proving more contentious, with opponents arguing that it would massively reduce already hurting state revenues, with the bill’s supporters blasting back that “the General Fund has no right to profit off the misery in Mobile and Baldwin County.”
You can read more about it on AL.com’s site.
“Coastal insurance reform bills begin moving through state Legislature“, via AL.com