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Ala. Creates Insurance Research Center
TUSCALOOSA, Ala. (AP) Gov. Robert Bentley is creating a research center at the University of Alabama to address the availability and rising cost of homeowner insurance.
Bentley went to the Tuscaloosa campus Wednesday to sign an executive order establishing the Alabama Center for Insurance Information and Research.
The center was recommended by a commission Bentley created to study homeowner insurance after hurricanes on the coast and deadly tornadoes in central and north Alabama.
Bentley said the research center will not be controlled by the insurance industry. He believes that over time it will make insurance premiums more affordable. The center has $1 million in state funding for its first year.