Outline of Coverage and Comprehensive Policy Checklist
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This bulletin requires surplus line brokers to provide an outline of coverage and comprehensive policy checklist to insureds for specified residential property classes effective for policies effective on or after July 1, 2013; it applies to Alabama-licensed producers and surplus line brokers handling surplus lines business in Alabama.
Bulletin 2013-02, issued January 28, 2013, is revised to delete signature requirements concerning the outline and checklist form.
Outline & Checklist Requirements
Outline/checklist requirements for surplus lines residential policies
Applicability and substantive requirements for the outline of coverage and comprehensive policy checklist.
ALL of the following
- If an insured's individual policy does not include an exclusion displayed on the Department's form (for example, sewer back-up), then that exclusion should not be displayed on the insured's outline and checklist.
- The broker may replace the Department's language with similar wording more appropriate to the surplus line insurer's policy form (for example, differing definitions of RCV or ACV).
- The broker may add types of coverage, perils, exclusions, discounts, or additional disclaimers to the outline and checklist but may not delete items on the Department's form that apply to an insured.
Outline Fields and Recordkeeping
| Covered Property - Dwelling (Limits) | Covered Property, 1 = Limits of Insurance. Dwelling, 1 = . |
| Covered Property - Dwelling (Loss Settlement Basis) | Covered Property, 2 = Loss Settlement Basis (ACV or RCV). Dwelling, 2 = . |
| Covered Property - Other Structures (Limits) | Other Structures (Detached from Dwelling), 1 = . |
| Covered Property - Other Structures (Loss Settlement Basis) | Other Structures (Detached from Dwelling), 2 = . |
| Covered Property - Personal Property (Limits) | Personal Property (Contents), 1 = . |
| Covered Property - Personal Property (Loss Settlement Basis) | Personal Property (Contents), 2 = . |
| Covered Property - Roof Repair/Replacement Settlement Basis (Limits) | Roof Repair/Replacement Settlement Basis:, 1 = . |
| Covered Property - Roof Repair/Replacement Settlement Basis (Loss Settlement Basis) | Roof Repair/Replacement Settlement Basis:, 2 = . |
| Deductible - Hurricane/Named Windstorm | Deductible Amounts ($): Hurricane/Named Windstorm = $ |
| Deductible - Other Property Perils | Deductible Amounts ($): Other Property Perils, 1 = ; Other Property Perils, 2 = |
Delivery and Broker Responsibilities
Provide completed outline/checklist to insured within 30 days
Within thirty (30) days after the policy issue date, provide the insured a completed Outline of Coverage and policy checklist; if the surplus line broker does not furnish it directly to the insured, the broker must provide the outline and checklist to the retail producer for delivery to the insured within the 30‑day period.
- Applies to surplus lines residential policies (dwelling fire and mobile home/manufactured housing) effective on or after July 1, 2013; farm‑owner and condominium unit owner policies are excluded.
- Outline/checklist must substantially conform to the Department's attached form and include all items applicable to the individual policyholder.
- Broker may replace Department wording with insurer‑appropriate language and may add items but may not delete applicable items from the Department's form.
Defined Terms
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