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Fees for insurance producers, continuing education providers, premium finance companies and more are going up in Alabama for the first time in years if new regulations are approved.

The Alabama Department of Insurance announced it will hold a hearing at 10 a.m. on Aug. 6 to hear stakeholders’ input about the higher fees, which could increase by 30% in some cases. The hearing will be at the DOI offices in Montgomery.

The new fees are in keeping with statutes that require fees to keep pace with inflation. The biennial license renewal fee for producers and service representatives, for example, was last changed in 2016, the department explained in a .

The department did not list the new fees in its bulletin, but if the U.S. Bureau of Labor Statistics’ inflation calculator is an accurate indication, the biennial fee will jump close to $100.

The fee changes would take effect Jan. 1, 2027, the DOI said.

Fee changes for others include:

• The fee for continuing education providers for insurance producers and service reps. The fee was last changed in 2021.
• Title insurance agents. The fees were set in 2013.
• Premium finance companies. The fees were last changed in 2021.
• Fireworks displays, explosives and fire alarm systems. The fees and rules were last adjusted in 2021.

People wanting to submit testimony should send it in writing at least 24 hours before the hearing, to the Alabama Department of Insurance, Attention: Legal Division, PO Box 303351, Montgomery, Alabama 36130-3351.

A copy of the new regulations can be obtained by written request to the same DOI address. The fee is $1 per page. Or, electronic copies are available at no charge by emailing Brenda.Camp@insurance.alabama.gov.

Topics Alabama