In Alabama, the Alabama Department of Insurance has a mission to serve the residents of Alabama by regulating the insurance industry, providing consumer protection, promoting market stability, and enforcing fire safety standards and laws. Currently the Commissioner in charge of The Alabama Department of Insurance is Jim L. Ridling. Jim was appointed to Commissioner on September 15, 2008 by Governor Bob Riley. Jim is also a graduate of the University of the Ozarks and a 20 year resident of Montgomery, Alabama.
Alabama Annuity Resources
Recently, the Alabama Department of Insurance and the Alabama Securities Commission have come together to great a task force called the Alabama Annuities Task Force (AATF). This new AATF was designed to investigate and regulate the sales of Annuities in Alabama, making sure to apply suitability to all of the annuity products sold in Alabama. Annuities are complex products that put most consumers at a disadvantage when it comes to understanding these complicated financial products. Therefore the AATF will be there to make sure consumers know who should and shouldn't be buying these annuity related products.On top of that the ADLOI has an informational page on their website dedicated to educating consumers on every type of product that falls under the guidance of the Alabama Department of Insurance.
|State Commissioner:||Jim L. Ridling|
|Annuity Guarantee Limit:||$100,000|
|Links:||Consumer's Guide To Annuities|