- Total number of claims filed during this time period.
- Total number of open claims awaiting information from the insured.
- Total number of open claims other than those addressed in #2.
B. For open claims submitted from July 1, 2011, to September 30, 2011, the following information is required:
1. Total number of claims filed during this time period.
2. Total number of open claims awaiting information from the insured.
3. Total number of open claims other than those addressed in #2.
C. For open claims submitted on or after October 1, 2011, provide the total number of claims filed during this time period and the number of claims still open.
For purposes of this Bulletin:
1. An “open claim” means a claim for which an agreement has not been reached between the insurer and the insured and a claim for which the company “reasonably expects to make a future payment.” An insurer does not “reasonably expect to make a future payment” on a claim when it has paid the insured an amount equal to or greater than the amount claimed by the insured on a proof of loss or similar document.
2. When the insurer has paid the actual cash value of property insured under a replacement cost policy, the claim can be considered closed until the insured has replaced the property and files a request for the replacement cost value.
3. When the insurer has paid the insured for the total loss of a motor vehicle and is merely awaiting the sale of the vehicle for salvage, the claim can be considered closed.
Insurers with no open claims (as described and limited in this bulletin) related to the April storms should still file a report in the form of the cover letter described above.
Reports should be received by the Commissioner’s office by 5:00 p.m. CT on November 16, 2011. Reports may be submitted via electronic mail, hand delivery, or non-USPS overnight courier delivery, as follows:
Electronic Mail: Address: Insdept@insurance.alabama.gov
Subject: April Storms Report
Hand or Overnight: Commissioner of Insurance
201 Monroe St
Montgomery, AL 36104
In accordance with the Alabama Insurance Disaster Response Plan, reports submitted pursuant to this Bulletin will be considered confidential and not subject to public review. All reports will be consolidated by the department into a compiled summary on an aggregate basis. No individual company information will be identified publicly.