Alaska Stat. § 21.69.440 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.440
Levy of contingent liability.
Status: in_force

(a) If at any time the assets of a domestic mutual insurer are less than its liabilities and the minimum amount of surplus required to be maintained by it by this title for authority to transact the kinds of insurance being transacted and the deficiency is not cured from other sources, its directors shall levy an assessment only upon its members who held policies providing for contingent liability at any time within the 12 months preceding the date notice of the assessment was mailed to them, and the members shall be liable to the insurer for the amount assessed.

(b) The assessment shall be for the amount required to cure the deficiency and to provide a reasonable amount of working funds above the minimum amount of surplus, but the working funds so provided may not exceed five percent of the insurer's liabilities as of the date as on which the amount of the deficiency was determined.

(c) In levying an assessment upon a policy providing for contingent liability, the assessment shall be computed on the basis of the premiums earned on the policy during the period to which the assessment relates.

(d) A member may not have an offset against an assessment for which the member is liable, on account of a claim for unearned premium or loss payable.

(e) As to life insurance, any part of the assessment upon a member that remains unpaid following notice of assessment, demand for payment, and lapse of a reasonable waiting period as specified in the notice, may, if approved by the director as being in the best interests of the insurer and its members, be secured by placing a lien upon the cash surrender values and accumulated dividends held by the insurer to the credit of the member.
Alaska Stat. § 21.54.110 — AK Code / Title 21 / Chapter 21.54 / Section 21.54.110
Preexisting condition exclusion.
Status: in_force

(a) A health care insurance plan offered, issued for delivery, delivered, or renewed in the group market may not contain a preexisting condition exclusion that (1) relates to a condition, regardless of cause, for which medical advice, diagnosis, care, or treatment was recommended or received more than six months before the enrollment date;

(2) considers genetic information as a condition for which a preexisting condition exclusion may be imposed in absence of a diagnosis of the condition related to the information;

(3) extends for more than 12 months after the enrollment date of a covered individual; or

(4) excludes a condition relating to pregnancy.

(b) A period of a preexisting condition exclusion permissible under (a) of this section must be reduced by the aggregate of periods of creditable coverage, if any, as determined in AS 21.54.120 , applicable to the participant or beneficiary as of the enrollment date. The aggregate of periods of creditable coverage is determined by adding together all periods of creditable coverage before the enrollment date, excluding periods of creditable coverage before a continuous break in coverage of more than 90 days. A waiting period or affiliation period may not be considered in determining the 90-day period. This subsection does not apply if an individual's most recent period of creditable coverage ended on a date more than 90 days before the enrollment date. This subsection does not preclude application of a waiting period to all new enrollees under a health care insurance plan.

(c) A health care insurance plan offered, issued for delivery, delivered, or renewed in this state in the group market may not apply a preexisting condition exclusion to an individual who is (1) a newborn covered under creditable coverage as of the last day of the 30-day period beginning with the date of birth; or (2) adopted or placed for adoption before attaining 18 years of age and who is covered under creditable coverage as of the last day of the 30-day period beginning with the date of adoption or placement for adoption. This subsection does not apply to an individual after the end of the first continuous 90-day period during all of which the individual was not covered under creditable coverage.

(d) A health care insurance plan offered, issued for delivery, delivered, or renewed in this state in the group market may exclude coverage for late enrollees for the greater of 18 months or an 18-month preexisting condition exclusion. If both a waiting period and a preexisting condition exclusion under (a) of this section are applicable to a late enrollee, the combined period may not exceed 18 months from the date the individual enrolls for coverage under a health care insurance plan.
Alaska Stat. § 21.69.150 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.150
Escrow of funds.
Status: in_force

(a) All funds received under a solicitation permit shall be deposited and held in escrow in a bond or trust company under an agreement approved by the director. Funds deposited may not be withdrawn, except (1) for the payment of promotion and organization expenses as authorized by the solicitation permit;

(2) for the purpose of making a deposit with the director required for the issuance of a certificate of authority to an insurer;

(3) if the proposed organization is not to be an insurer, upon completion of payments on stock or syndicate subscriptions made under the solicitation permit and deposit or appropriation of the funds to the purposes specified in the solicitation permit; or

(4) for making refunds as provided in AS 21.69.190 .

(b) When the director has issued a certificate of authority to an insurer the funds remaining in escrow for its account shall be released to the insurer.
Alaska Stat. § 21.55.320 — AK Code / Title 21 / Chapter 21.55 / Section 21.55.320
Plan administrator's response.
Status: in_force

(a) Within 30 days after receiving the application described in AS 21.55.310 , the plan administrator shall (1) provide the applicant with either a notice of rejection for failing to comply with the requirements of AS 21.55.300 and 21.55.310 or a notice of acceptance; and

(2) for a TAA eligible individual, send a notice to the director specifying the name, address, social security number, and effective date of coverage.

(b) When a person with a disability that is covered under 42 U.S.C. 1395  1395b-10 (Title XVIII of the Social Security Act) is referred by an insurer to a state plan under AS 21.55.310 , the plan administrator shall request that the Department of Health provide information to the person about applying for the federal benefits.
Alaska Stat. § 21.36.390 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.390
Notice to director.
Status: in_force

(a) An insurer or licensee that has reason to believe that a fraudulent claim has been made against it shall send the director a report disclosing information that the director may require.

(b) An insurer or licensee that has reason to believe that an insurance producer with which it is doing business is involved in a defalcation, embezzlement, or violation of the provisions of AS 21.36.030 , 21.36.050, or 21.36.360 shall immediately send the director a report disclosing the basis for that belief and any other information that the director may require.

(c) An insurer or licensee, its employee or agent, or another person acting in good faith is not civilly liable for damages resulting from the filing of the report or the furnishing of information required by this section or by the director.

(d) The director shall investigate facts reported under this section and shall refer facts indicating a violation of law to the appropriate prosecutor or agency.
Alaska Stat. § 21.84.455 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.455
Valuation.
Status: in_force

(a) Standards of valuation for certificates issued before January 1, 1999 shall be those provided by the laws applicable immediately before January 1, 1998.

(b) The minimum standards of valuation for certificates issued on or after January 1, 1999 shall be based on the following tables, which shall be under valuation methods and standards, including interest assumptions, in accordance with the laws of this state applicable to life and health insurers issuing policies containing similar benefits: (1) for certificates of life insurance, the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Mortality Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Ordinary Mortality Table, or a more recent table made applicable to life insurers;

(2) for annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits, and for noncancellable accident and health benefits, the tables authorized for use by life and health insurers in this state.

(c) The director may, in the director's discretion, accept other standards for valuation if the director finds that the reserves produced under those standards will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard presented in this section. The director may, in the director's discretion, vary the standards of mortality applicable to benefit contracts on substandard lives or other extrahazardous lives by any society authorized to do business in this state.

(d) A society, with the consent of the insurance supervisory official of the state of domicile of the society and under conditions that the director may impose, may establish and maintain reserves on its certificates in excess of the reserves required, but the contractual rights of any benefit member shall not be affected.
Alaska Stat. § 21.45.050 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.050
Entire contract.
Status: in_force

There shall be a provision that the policy, or the policy and the policy application if a copy of the application is endorsed upon or attached to the policy when issued, constitute the entire contract between the parties, and if the application is made a part of the policy, that all statements contained in the application shall, in the absence of fraud, be considered representations and not warranties.
Alaska Stat. § 21.53.066 — AK Code / Title 21 / Chapter 21.53 / Section 21.53.066
Producer training requirements.
Status: in_force

(a) A person may not sell, solicit, or negotiate long-term care insurance unless the person is licensed as an insurance producer for health or life insurance lines of authority and has completed a one-time training course that meets the requirements in (d) of this section.

(b) A person currently licensed and selling, soliciting, or negotiating long-term care insurance may not continue to sell, solicit, or negotiate long-term care insurance unless the person has completed a one-time training course that meets the requirements in (d) of this section.

(c) A person who sells, solicits, or negotiates long-term care insurance shall complete ongoing training that meets the requirements in (e) of this section.

(d) The one-time training course required under this section (1) must be at least eight credit hours;

(2) may not include training that is insurer or company product specific or that includes any sales or marketing information, materials, or training, other than those required by state or federal law;

(3) must consist of topics related to long-term care insurance, long-term care services, and, if applicable, qualified long-term care insurance partnership programs, including (A) state and federal requirements and the relationship between qualified state long-term care insurance partnership programs and other public and private coverage of long-term care services;

(B) available long-term care services and providers;

(C) changes or improvements in long-term care services or providers;

(D) alternatives to the purchase of private long-term care insurance;

(E) the effect of inflation on benefits and the importance of inflation protections; and

(F) consumer suitability standards and guidelines.

(e) The ongoing training course required under (c) of this section must be at least four credit hours every 24 months and must comply with the requirements in (d)(2) and (3) of this section.

(f) The director may approve the training requirements in (d) and (e) of this section as continuing education courses under AS 21.27.020 .

(g) An insurer shall (1) obtain verification that a producer received the training required under this section before a producer is permitted to sell, solicit, or negotiate the insurer's long-term care insurance products;

(2) maintain records of required training subject to the state's record retention requirements;

(3) make the verification required under (1) of this subsection available to the director on request.

(h) An insurer shall maintain (1) records with respect to the training of its producers concerning the distribution of its partnership policies that allow the director to provide assurance to the medical assistance program under AS 47.07 that producers have received the training described in (d)(3) of this section and that producers have demonstrated an understanding of the partnership policies and their relationship to public and private coverage of long-term care in this state; and

(2) the records described under (1) of this subsection in accordance with the record requirements under AS 21.09.320 and shall make the records available to the director on request.
Alaska Stat. § 21.09.320 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.320
Maintenance of records; production; civil penalty.
Status: in_force

(a) A foreign insurer shall keep at its principal place of business a complete record of its assets, transactions, and affairs in accordance with the methods and systems that are customary or suitable to the kind of business transacted.

(b) To meet the requirements of (a) of this section, the insurer shall keep the records as required by the record maintenance requirements of the insurer's domicile jurisdiction.

(c) The director may make a request in writing to review records under (a) of this section. An insurer shall, not later than 10 business days after the date of the request, provide the requested records to the director or make the records available for inspection and copying. All records inspected or examined under this subsection are confidential, but may be used by the director in a proceeding against the insurer.

(d) Failure by an insurer to provide information required in this section may result in a civil penalty of up to $1,000 for each violation and an additional civil penalty of up to $50 for each day the information requested is not provided.

Article 2. Corporate Governance Annual Disclosure.
Alaska Stat. § 21.79.120 — AK Code / Title 21 / Chapter 21.79 / Section 21.79.120
Examination of the association, annual report.
Status: in_force

The association may be examined by the director. The board shall submit to the director, not later than July 1 of each year, a certified financial report for the preceding calendar year in a form approved by the director and a report of its activities during the preceding calendar year. Nothing in AS 21.79.110 (b) limits the duty of the association to report under this section. Upon request, the association shall provide a copy of the report to a member insurer.
Alaska Stat. § 21.39.050 — AK Code / Title 21 / Chapter 21.39 / Section 21.39.050
Disapproval of filings.
Status: reserved

(a) [Repealed, § 12 ch 88 SLA 2005.] (b) If, within 30 days after a specific inland marine rate on a risk especially rated by a rating organization subject to AS 21.39.040 (e) has become effective or, if within 30 days after a special surety or guaranty filing subject to AS 21.39.040 (e) has become effective, the director finds that the filing does not meet the requirements of this chapter, the director shall send to the rating organization or insurer that made the filing written notice of disapproval of the filing specifying in what respects the filing fails to meet the requirements of this chapter and stating when, within a reasonable period, the filing shall be considered no longer effective. Disapproval shall not affect a contract made or issued before the expiration of the period set out in the notice.

(c) If, at any time subsequent to the applicable review period provided for in AS 21.39.041 (a) or 21.39.220(b), the director finds that a filing does not meet the requirements of this title, the director shall, after a hearing held upon not less than 10 days written notice specifying the matters to be considered at the hearing and given to each insurer and rating organization that made the filing, issue an order specifying in what respects the filing fails to meet the requirements of this title and stating when, within a reasonable period thereafter, the filing shall be considered no longer effective. Copies of the order shall be sent to each insurer and rating organization that made the filing. The order may not affect a contract or policy made or issued before the expiration of the period set out in the order.

(d) A person or organization aggrieved by a filing that is in effect may make written application to the director for a hearing, except that the insurer that made the filing may not be authorized to proceed under this subsection. The application shall specify the grounds to be relied upon by the applicant and the application must show that the person or organization making the application has a specific economic interest affected by the filing. If the director finds that the application is made in good faith, that the applicant has a specific economic interest, that the applicant would be so aggrieved if the grounds are established, and that the grounds otherwise justify holding a hearing, the director shall within 30 days after receipt of the application hold a hearing upon not less than 10 days written notice to the applicant and to every insurer and rating organization that made the filing. A rating or advisory organization has status under this chapter to make application for a hearing on a filing made by an insurer with the director. If, after the hearing, the director finds that the filing does not meet the requirements of this chapter, the director shall issue an order specifying in what respects that the filing fails to meet the requirements of this chapter, and stating when, within a reasonable period thereafter, the filing shall be considered no longer effective. Copies of the order shall be sent to the applicant and to every insurer and rating organization that made the filing. The order shall not affect a contract or policy made or issued before the expiration of the period set out in the order.

(e) A filing may not be disapproved if the rates in the filing meet the requirements of this chapter.
Alaska Stat. § 21.42.090 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.090
Application required, life and health insurance.
Status: in_force

A life or health insurance contract upon an individual, except a contract of group life insurance or of group or blanket health insurance, may not be made or effectuated unless at the time of the making of the contract the individual insured, being of competent legal capacity to contract, applies for the contract or has consented to it in writing, except in the following cases: (1) a spouse may effectuate the insurance upon the other spouse;

(2) a person having an insurable interest in the life of a minor or a person upon whom a minor is dependent for support and maintenance, may effectuate insurance upon the life of or pertaining to the minor;

(3) family policies insuring any two or more members of a family may be issued on an application signed by either parent, a stepparent, or by a husband or wife.
Alaska Stat. § 21.23.250 — AK Code / Title 21 / Chapter 21.23 / Section 21.23.250
Risk assessment.
Status: in_force

(a) A licensee shall conduct a risk assessment commensurate with the size and complexity of the licensee and in consideration of the nature and scope of the licensee's activities to evaluate the security and confidentiality of nonpublic information used by or in the possession or control of the licensee. In conducting the risk assessment, the licensee shall (1) identify reasonably foreseeable internal or external threats in each area of the licensee's operations that could result in unauthorized access, transmission, disclosure, misuse, alteration, or destruction of nonpublic information, including the security of information systems and nonpublic information that are accessible to, or held by, third-party service providers;

(2) assess the likelihood and potential damage of the threats identified in (1) of this subsection, taking into consideration the sensitivity of nonpublic information; and

(3) assess the sufficiency in each area of the licensee's operations of the licensee's policies, procedures, information systems, and other safeguards in place to manage the threats identified in (1) of this subsection, including the areas of (A) employee training and management;

(B) network and software design, information classification, governance, processing, storage, transmission, and disposal; and

(C) detecting, preventing, and responding to attacks or intrusions on information systems and nonpublic information, or other information system failures.

(b) A licensee shall use the licensee's risk assessment to design the licensee's information security program required under AS 21.23.260 (a).
Alaska Stat. § 21.86.180 — AK Code / Title 21 / Chapter 21.86 / Section 21.86.180
Examinations.
Status: in_force

(a) The director shall examine the affairs and transactions of a health maintenance organization in the same manner as prescribed for an insurer in AS 21.06.140  21.06.180.

(b) As often as is reasonably necessary for the protection of the interests of the people of the state, but at least once every three years, the director shall require submission of an independent review of the quality of care provided by a health maintenance organization either directly or indirectly through contract, agreement, or other arrangement for provisions of health care services to enrollees of the health maintenance organization. The review required under this subsection shall be done by a review organization approved by the Department of Health and shall be done under regulations adopted by that department. The health maintenance organization shall pay the cost of the review.
Alaska Stat. § 21.06.020 — AK Code / Title 21 / Chapter 21.06 / Section 21.06.020
Division of insurance.
Status: in_force

(a) There is created within the Department of Commerce, Community, and Economic Development a division of insurance, which shall be located in or convenient to the office occupied by the commissioner of commerce, community, and economic development.

(b) The division of insurance shall be under the administrative control of the commissioner of commerce, community, and economic development and the supervision of the director of the division of insurance.
Alaska Stat. § 21.36.100 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.100
Rebates.
Status: in_force

Except as otherwise expressly provided by law, a person may not knowingly permit or offer to make or make a contract of life insurance, life annuity or health insurance, or agreement under the contract other than as plainly expressed in the contract, or pay, allow, give or offer to pay, allow, or give, directly or indirectly, as inducement to the insurance, or annuity, a rebate of premiums payable on the contract, or a special favor or advantage in the dividends or other benefits, or paid employment or contract for services of any kind, or any valuable consideration or inducement whatever not specified in the contract; or directly or indirectly give, sell, purchase or offer to agree to give, sell, purchase, or allow as inducement to the insurance or annuity or in connection therewith, whether or not to be specified in the policy or contract, an agreement of any form or nature promising returns, profits, stocks, bonds, or other securities, or interest present or contingent in the contract or as measured by the contract, of an insurance company or other corporation, association, or partnership, or dividends or profits accrued or to accrue under the contract; or offer, promise, or give anything of value that is not specified in the contract.
Alaska Stat. § 21.09.190 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.190
Service of process.
Status: in_force

(a) Duplicate copies of legal process against an insurer for whom the director is attorney under AS 21.09.180 shall be served upon the director, or upon a deputy of the director or other person in charge of the office during the absence of the director. At the time of service the plaintiff shall pay to the director a fee set under AS 21.06.250 , taxable as costs in the action. Upon receiving service the director shall promptly forward a copy by certified mail with return receipt requested to the person last designated by the insurer to receive it.

(b) Process served upon the director and the copy forwarded as provided in this section constitutes service upon the insurer.
Alaska Stat. § 21.54.140 — AK Code / Title 21 / Chapter 21.54 / Section 21.54.140
Renewability of coverage for a multiple employer welfare arrangement.
Status: in_force

A health benefit plan that is a multiple employer welfare arrangement subject to this title may not deny an employer whose employees are covered under the plan continued access to the same or a different plan according to the terms of the plan, except (1) for nonpayment of contributions;

(2) for fraud or other intentional misrepresentation of material fact by the employer;

(3) for noncompliance with material plan provisions;

(4) where the plan is ceasing to offer any coverage in a geographic area;

(5) for a health benefit plan that offers benefits through a network plan if (A) there is no longer an individual enrolled through the employer who lives, resides, or works in the service area of the network plan; and

(B) the multiple employer welfare arrangement applies this paragraph without regard to the claims experience of the employer or a health status factor in relation to an individual or an individual's dependent; and

(6) for failure to meet the terms of an applicable collective bargaining agreement to renew a collective bargaining or other agreement requiring or authorizing contributions to the plan or to employ employees covered by a collective bargaining agreement.
Alaska Stat. § 21.53.080 — AK Code / Title 21 / Chapter 21.53 / Section 21.53.080
Organizational requirements of associations.
Status: in_force

An insurer, hospital or medical service corporation, or a fraternal benefit society may not issue group long-term care insurance to an association or a trust or the trustee of a fund established, created, or maintained for the benefit of members of one or more associations, unless the association or the insurer of the association files evidence with the director that the association has (1) a minimum of 100 members;

(2) been organized and maintained in good faith for purposes other than that of obtaining insurance;

(3) been in active existence for at least one year; and

(4) a constitution and by-laws that require (A) the association to hold regular meetings not less than annually to further purposes of the members;

(B) except for credit unions, the association to collect dues or solicit contributions from members; and

(C) the members to have voting privileges and representation on the governing board and committees.
Alaska Stat. § 21.06.240 — AK Code / Title 21 / Chapter 21.06 / Section 21.06.240
Hearings inapplicable to rate making.
Status: in_force

The hearing and appeal procedures provided for in AS 21.06.180  21.06.230 do not apply to matters covered by AS 21.39 (Rates and Rating Organizations).
Alaska Stat. § 21.39.070 — AK Code / Title 21 / Chapter 21.39 / Section 21.39.070
Deviations.
Status: reserved

(a) Each member of or subscriber to a rating organization shall adhere to the filings made on its behalf by the organization except that an insurer may file with the director, in accordance with AS 21.39.040 (a), a deviation from the class rates, schedules, rating plans, or rules respecting a kind of insurance, or class of risk within a kind of insurance, or a combination of them.

(b) [Repealed, § 12 ch 88 SLA 2005.]
Alaska Stat. § 21.86.210 — AK Code / Title 21 / Chapter 21.86 / Section 21.86.210
Rehabilitation, liquidation, or conservation.
Status: in_force

(a) A rehabilitation, liquidation, or conservation of a health maintenance organization is considered to be a rehabilitation, liquidation, or conservation of an insurer, and shall be conducted under AS 21.78 . The director may apply to the superior court for an order directing the rehabilitation, liquidation, or conservation of a health maintenance organization upon one or more of the grounds contained in AS 21.78.040 , 21.78.050, or 21.78.060, or if, in the director's opinion, the continued operation of the organization would be hazardous to either enrollees or to the people of the state.

(b) Enrollees of a health maintenance organization have the same priority in the event of liquidation or rehabilitation as AS 21.78 provides to policyholders of an insurer. A claim made by a health care provider in a liquidation or rehabilitation that pertains to services provided to an enrollee, has the same priority as an enrollee if the provider agrees not to assert the claim against an enrollee and if any payment fully discharges the obligation of the enrollee.
Alaska Stat. § 21.14.090 — AK Code / Title 21 / Chapter 21.14 / Section 21.14.090
Confidentiality; restrictions on use.
Status: in_force

(a) Except as provided in AS 21.06.060 and this subsection, a report required under AS 21.14.010 , a plan required under AS 21.14.060 , the results or report of an examination or analysis of an insurer performed under this chapter, and a corrective order issued by the director are confidential and may not be made public by the director or another person. Information in a risk based capital report that is also set out in a publicly available annual statement schedule is not confidential.

(b) The calculation of risk based capital for an insurer constitutes a regulatory tool that may indicate a need for corrective action, and the calculation may not be used as a means to rank insurers. Except as otherwise required in this chapter, a person may not directly or indirectly use information regarding the risk based capital of an insurer. If a materially false statement regarding an insurer's risk based capital or an inappropriate comparison of any other amount to the insurer's risk based capital is published and the insurer is able to demonstrate with substantial proof, as determined by the director, the falsity or inappropriateness of the statement, the insurer may publish an announcement exclusively to rebut the materially false statement or inappropriate comparison.

(c) The director may use the risk based capital instructions, report, adjusted report, plan, and revised plan only for monitoring the solvency of an insurer or for determining the need for corrective action by an insurer. Notwithstanding AS 21.39 , documents described in this subsection may not be considered or introduced as evidence in a rate proceeding or used by the director to calculate or derive any elements of an appropriate premium level or rate of return for a line of insurance that an insurer or an affiliate is authorized to write.
Alaska Stat. § 21.45.270 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.270
Incontestability, limitation of liability after reinstatement.
Status: in_force

(a) A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance.

(b) When a life insurance policy or annuity contract is reinstated, the reinstated policy or contract may exclude or restrict liability to the same extent that the liability might have been or was excluded or restricted when the policy or contract was originally issued, and the exclusion or restriction shall be effective from the date of reinstatement.
Alaska Stat. § 21.84.130 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.130
Existing voluntary associations.
Status: reserved

(a) After July 1, 1967, an unincorporated or voluntary association may not be permitted to transact business in this state as a fraternal benefit society.

(b) [Repealed, § 36 ch 96 SLA 1997.] (c) [Repealed, § 36 ch 96 SLA 1997.]
Alaska Stat. § 21.45.210 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.210
Misstatement of age or sex: annuities.
Status: in_force

In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that if the age or sex of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payment or payments to the insurer would have purchased according to the correct age or sex and that if the insurer makes or has made an overpayment or overpayments on account of a misstatement, the amount of the overpayment, with interest at the rate to be specified in the contract but not exceeding six percent a year, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.
Alaska Stat. § 21.06.110 — AK Code / Title 21 / Chapter 21.06 / Section 21.06.110
Director's annual report.
Status: in_force

As early in each calendar year as is reasonably possible, the director shall prepare and deliver an annual report to the commissioner, who shall notify the legislature that the report is available, showing, with respect to the preceding calendar year, (1) a list of the authorized insurers transacting insurance in this state, with a summary of their financial statement as the director considers appropriate;

(2) the name of each insurer whose certificate of authority was surrendered, suspended, or revoked during the year and the cause of surrender, suspension, or revocation;

(3) the name of each insurer authorized to do business in this state against which delinquency or similar proceedings were instituted and, if against an insurer domiciled in this state, a concise statement of the facts with respect to each proceeding and its present status;

(4) a statement in regard to examination of rating organizations, advisory organizations, joint underwriters, and joint reinsurers as required by AS 21.39.120 ;

(5) the receipt and expenses of the division for the year;

(6) recommendations of the director as to amendments or supplementation of laws affecting insurance or the office of director;

(7) statistical information regarding health insurance, including the number of individual and group policies sold or terminated in the state; this paragraph does not authorize the director to require an insurer to release proprietary information;

(8) the annual percentage of health claims paid in the state that meets the requirements of AS 21.36.495 (a) and (d);

(9) the total amount of contributions reported and the total amount of credit claimed under AS 21.96.070 ;

(10) the total number of public comments received and the director's efforts, to the extent allowable by law, to improve or maintain public access to information on individual health insurance rate filings before they become effective; and

(11) other pertinent information and matters the director considers proper.
Alaska Stat. § 21.27.530 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.530
Insurance producer qualifications.
Status: in_force

In addition to the general qualifications under AS 21.27.020 , to qualify for issuance or renewal of an insurance producer license, an applicant or licensee (1) must possess the competence necessary to fulfill the responsibilities of an insurance producer;

(2) if previously licensed in good standing in this state as an insurance producer, must not have had a license suspended or revoked within the previous four calendar years;

(3) for a license with a scope that includes variable contracts, must either be currently registered with the federal Securities and Exchange Commission as a broker-dealer or personally take and pass, to the satisfaction of the director, tests of the knowledge and competence of the applicant concerning securities.
Alaska Stat. § 21.84.060 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.060
Organization.
Status: in_force

The organization of a domestic society organized on or after January 1, 1998, shall be formed as follows: Seven or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign, and acknowledge before some officer, competent to take acknowledgment of deeds, articles of incorporation, in which shall be stated (1) the proposed corporate name of the society, which may not so closely resemble the name of any society or insurance company as to be misleading or confusing;

(2) the purposes for which it is being formed and the mode in which its corporate powers are to be exercised; the purposes may not include more liberal powers than are granted by this chapter;

(3) the names and residences of the incorporators and the names, residences, and official titles of all the officers, trustees, directors, or other persons who are to have and exercise the general control of the management of the affairs and funds of the society for the first year or until the ensuing election at which all the officers shall be elected by the supreme governing body, which election shall be held no later than one year from the date of the issuance of the permanent certificate of authority.
Alaska Stat. § 21.24.100 — AK Code / Title 21 / Chapter 21.24 / Section 21.24.100
Excess deposits.
Status: in_force

An insurer may deposit and have on deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this title by no more than 20 percent of the required or permitted deposit or $50,000, whichever is the larger amount, for the purpose of absorbing fluctuations in the value of assets and securities deposited and to facilitate the exchange and substitution of the assets and securities. During the solvency of the insurer an excess shall be released to the insurer upon its request. During the insolvency of the insurer the excess deposit shall be released only in accordance with AS 21.24.130 (d).
Alaska Stat. § 21.18.086 — AK Code / Title 21 / Chapter 21.18 / Section 21.18.086
Premium reserves for health insurance.
Status: in_force

(a) Unearned premium reserves must be established for the period of coverage for which premiums, other than premiums paid in advance, have been paid beyond the date of valuation.

(b) Due and unpaid premiums that are carried as an asset in the annual statement must be treated as premiums in force and are subject to the unearned premium reserve requirements of this section. Unpaid commissions, premium taxes, and costs of collection associated with due and unpaid premiums must be carried in the annual statement as an offsetting liability.

(c) Gross premiums paid in advance for a period of coverage starting after the next premium due date following the valuation date may be discounted to the valuation date and must be held as a separate liability in the annual statement or as an addition to the unearned premium reserve established in this section.

(d) The minimum unearned premium reserve for a policy is the pro rata unearned modal premium that applies to the valuation period beyond the date of valuation. If a policy reserve is required for a policy, the unearned modal premium is the valuation net modal premium on the policy reserve. If no policy reserve is required for a policy, the unearned modal premium is the gross modal premium for the policy.

(e) The sum of the unearned premium and policy reserves for all policies may not be less than the gross modal unearned premium reserve on all policies as of the date of valuation. The total unearned premium and policy reserves may not be less than the expected claims for the period after the valuation date represented by the unearned premium reserve.

(f) An insurer may use approximations and estimates in determining premium reserves, including groupings, averages, and aggregate estimates. The approximations or estimates must be tested periodically and not less frequently than triennially to determine adequacy.

(g) Premium reserves based on the 1964 or 1985 Commissioners' Individual Disability Tables must include policies on premium waiver as in-force contracts and establish a minimum reserve for a waiver of premium benefit equal to the unearned modal valuation net premium being waived.
Alaska Stat. § 21.78.296 — AK Code / Title 21 / Chapter 21.78 / Section 21.78.296
Termination of proceedings.
Status: in_force

(a) When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the receiver shall apply to the court for discharge. The court may grant the discharge and make additional orders the court considers appropriate.

(b) Any other person may apply to the court at any time for an order under (a) of this section. If the application is denied, the applicant shall pay the receiver's costs and expenses incurred in resisting the application, including a reasonable attorney fee.
Alaska Stat. § 21.23.030 — AK Code / Title 21 / Chapter 21.23 / Section 21.23.030
Own risk and solvency assessment summary report.
Status: in_force

(a) If requested by the director, an insurer shall submit an own risk and solvency assessment summary report or any combination of reports that together contain the information described in the own risk and solvency assessment guidance manual that is applicable to the insurer or the insurance group of which the insurer is a member. The director may not request more than one report a year. The insurer shall submit the report to the director within 30 days after the request, unless the insurer requests an extension in writing and the director grants the request. If an insurer is a member of an insurance group, the insurer shall submit the report required by this subsection at least annually if the director is the lead state regulator of the insurance group as determined by the procedures in the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.

(b) For a report submitted under this section, an insurer's or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process shall sign the report and attest, to the best of the officer's or executive's belief and knowledge, that the insurer applies the enterprise risk management process described in the report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee of the board.

(c) An insurer may comply with (a) of this section by providing the most recent and substantially similar report or reports provided by the insurer or another member of the insurance group of which the insurer is a member to the insurance regulator of another state or a foreign jurisdiction, if that report provides information that is comparable to the information described in the own risk and solvency assessment guidance manual. A report in a language other than English must be accompanied by a translation of that report into the English language.
Alaska Stat. § 21.09.170 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.170
Duration of suspension, insurer's obligations, and reinstatement.
Status: in_force

(a) Suspension of an insurer's certificate of authority shall be for a fixed period of time determined by the director, or until the occurrence of a specific event necessary for remedying the reasons for suspension. The director may modify, rescind, or reverse a suspension under this section.

(b) During the period of suspension, the insurer (1) may not solicit or write any new business in this state;

(2) shall file its annual statement and pay fees, licenses, and taxes required under this title; and

(3) may service its outstanding business in force in this state as if the certificate had continued in full force.

(c) If the suspension of the certificate of authority is for a fixed period of time and the certificate of authority has not been otherwise terminated, upon expiration of the suspension period, the insurer's certificate of authority shall be reinstated unless the director finds that the insurer is not in compliance with the requirements of this title. The director shall promptly notify the insurer of any reinstatement, and the insurer may not consider its certificate of authority reinstated until notified by the director. If not reinstated, the certificate of authority expires at the end of the suspension period or at the time the insurer fails to continue the certificate during the suspension period under (b) of this section, whichever event occurs first.

(d) If the suspension of the certificate of authority continues until the occurrence of a specific event and the certificate of authority has not been otherwise terminated, upon the presentation of evidence satisfactory to the director that the specific event has occurred, the insurer's certificate of authority shall be reinstated unless the director finds that the insurer is not in compliance with the requirements of this title. The director shall promptly notify the insurer of any reinstatement, and the insurer may not consider its certificate of authority reinstated until notified by the director. If satisfactory evidence as to the occurrence of the specific event has not been presented to the director within five years after the date of suspension, the certificate of authority expires five years from the date of suspension or upon failure of the insurer to continue the certificate during the suspension period under (b) of this section, whichever occurs first.

(e) The authority of the agents in this state to represent the insurer is reinstated upon reinstatement of the insurer's certificate of authority.

(f) The director shall promptly notify an insurer's agents in this state, as shown by records of the director, of any reinstatement.
Alaska Stat. § 21.66.390 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.390
Making of rates.
Status: in_force

(a) A title insurance company shall make rates that are not excessive or inadequate, that do not unfairly discriminate between risks in this state that involve essentially the same exposure to loss and expense elements, and that give due consideration to (1) the desirability for stability of rate structures;

(2) the necessity of assuring the financial solvency of title insurance companies in periods of economic depression by encouraging growth in assets of title insurance companies in periods of high business activity;

(3) the necessity for assuring a reasonable margin of underwriting and operating profit; and

(4) investment income.

(b) A title insurance company shall adopt basic classifications of policies or contracts of title insurance that shall be used as the basis for rate-making.
Alaska Stat. § 21.09.160 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.160
Notice of suspension or revocation and effect upon agent's authority.
Status: in_force

(a) Upon suspending or revoking an insurer's certificate of authority, the director shall immediately give notice to the insurer and shall also publish notice of the revocation in one or more newspapers of general circulation in this state.

(b) The suspension or revocation shall automatically suspend or revoke, as the case may be, the authority of all its agents and managing general agents to act as agents or managing general agents of the insurer in this state, and the insurer shall so state in the notice to agents and managing general agents provided for in (c) of this section.

(c) Upon notification of suspension or revocation of an insurer's certificate of authority, the insurer shall immediately give notice of the suspension or revocation to its agents and managing general agents operating in this state.
Alaska Stat. § 21.75.170 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.170
Subscriber's advisory committee.
Status: in_force

(a) The subscriber's advisory committee shall meet at least annually and shall consist of not less than nine individuals elected by the subscribers, at least two-thirds of whom are subscribers or officers or directors of subscriber corporations and, except for a reciprocal insurer that wholly owns its attorney-in-fact, not more than one-third of whom may be (1) the attorney-in-fact or an employee, officer, director, affiliate, or a person having a financial interest in the attorney-in-fact; or

(2) a person representing the attorney-in-fact or an employee, officer, director, affiliate, or other person having a financial interest in the attorney-in-fact; a person shall be treated as having a financial interest in the attorney-in-fact if the person (A) owns, directly or indirectly, more than one percent of the outstanding stock in the attorney-in-fact;

(B) has an outstanding loan from the attorney-in-fact; or

(C) earns a commission or other compensation as a producer for the reciprocal insurer.

(b) A member of the subscriber's advisory committee may be elected to a term of office of not less than one year nor more than four years. A member may be reelected for an unlimited number of terms. Terms of office may be staggered to provide for continuity.

(c) The chair of the committee shall be elected by the members of the committee and the committee shall adopt rules consistent with the purposes of the committee.

(d) The attorney-in-fact shall appoint a secretary.

(e) Special meetings of the committee may be called by the attorney-in-fact, the chair of the committee, three members of the committee, or a signed petition of at least one percent of the subscribers or three individual subscribers, whichever is greater, as of the most recent annual report of the reciprocal insurer.

(f) The committee shall (1) supervise the finances of the reciprocal insurer;

(2) supervise the reciprocal insurer's operations to assure conformity with the subscriber's agreement;

(3) procure the audit of the accounts and records of the reciprocal insurer and of the attorney-in-fact at the expense of the reciprocal insurer; and

(4) have additional powers and functions that may be conferred by the subscriber's agreement.

(g) Notwithstanding (a) of this section, a domestic reciprocal insurer transacting all of its insurance activities on a subject resident, located, or to be performed in this state may, with the prior written approval of the director, have a subscriber's advisory committee that consists of not less than five individuals who are elected by the subscribers, and who otherwise meet the requirements of (a) of this section.
Alaska Stat. § 21.66.060 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.060
Dividends.
Status: in_force

A title insurance company may not pay dividends except from net profits remaining on hand after retaining unimpaired (1) the subscribed capital stock;

(2) the amount required to be set aside as unearned premium reserve fund under AS 21.18.073 ;

(3) a sum sufficient to pay current liabilities for operating expenses and taxes, and losses established or in process of settlement, without impairment of the unearned premium reserve fund required under AS 21.18.073 .
Alaska Stat. § 21.42.385 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.385
Dental, vision, and hearing coverage.
Status: in_force

(a) Except for a fraternal benefit society, a health care insurer that offers, issues for delivery, delivers, or renews in this state a health care insurance plan, including a Medicare supplement policy to the extent not prohibited by 42 U.S.C. 1395 (Social Security Act), shall offer to each plan sponsor or individual minimum dental, vision, and hearing coverage described in (b) of this section. Coverage required under this subsection may be offered as a rider or in a separate policy.

(b) The minimum coverage required under (a) of this section (1) may be provided under contract with another health care insurer;

(2) may not be less than the dental, vision, and hearing coverage provided on July 1, 2009, to an individual entitled to medical benefits under AS 39.35.535 (public employees' retirement system of Alaska); and

(3) shall be adjusted by the director on July 1, 2012, and every three years thereafter to correspond to changes in coverage provided to individuals entitled to medical benefits under AS 39.35.535 .

(c) This section does not apply to a health care insurer that has written less than $300,000 in premiums in the previous calendar year. A health care insurer exempt under this subsection shall disclose the exemption when offering, issuing for delivery, delivering, or renewing a health care insurance plan or an excepted benefits contract, and shall advise the individual covered under the plan that health care insurers that have written more than $300,000 in premiums in the previous calendar year are required to offer coverage under (a) and (b) of this section.

(d) This section does not require an insurer who offers only group insurance coverage under AS 21.54 to offer dental, vision, and hearing coverage to an individual.
Alaska Stat. § 21.75.090 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.090
Modifications.
Status: in_force

Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney-in-fact and the subscribers' advisory committee. A modification may not be effective retroactively, or apply to an insurance contract issued before the modification.
Alaska Stat. § 21.27.820 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.820
Denial, nonrenewal, suspension, or revocation of surplus lines broker license.
Status: in_force

In addition to other action available under this title, the director may deny issuance of or not renew a license, or may suspend or revoke a license of a surplus lines broker issued under this chapter for any of the following causes: (1) removal of the resident surplus lines broker's office from this state;

(2) removal of the resident surplus lines broker's accounts and records from this state during the period within which the accounts and records are required to be maintained under this chapter;

(3) removal of the nonresident surplus lines broker's accounts and records required to be maintained under this chapter from the location described in the license without prior approval of the director;

(4) closing of the surplus lines broker's office for a period of more than 45 calendar days, unless permission is granted by the director;

(5) failure to make a required report;

(6) failure to transmit a required tax or fee on a surplus line premium to this state or a reciprocal state to which a tax is owing;

(7) failure to maintain a required bond.

Article 8. Independent Adjusters.
Alaska Stat. § 21.36.930 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.930
Provisions of this chapter additional to other law.
Status: in_force

The powers vested in the director by this chapter are in addition to any other powers to enforce penalties, fines, or other forfeitures authorized by law with respect to acts and practices declared in this chapter to be unfair or deceptive.
Alaska Stat. § 21.45.120 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.120
Payment of premiums.
Status: in_force

There shall be a provision relative to the payment of premiums.
Alaska Stat. § 21.36.495 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.495
Prompt payment of health care insurance claims.
Status: in_force

(a) A health care insurer shall pay or deny indemnities under a health care insurance policy, whether or not services were provided by a participating provider, within 30 calendar days after the insurer or a third-party administrator under contract with the insurer receives a clean claim.

(b) If a health care insurer does not pay or denies a health care insurance claim, the insurer shall give notice to the covered person, or to the provider of the medical care services or supplies if the claim was assigned or if the covered person elected direct payment under AS 21.51.120 (a)(2) or AS 21.54.020 (a), of the basis for denial or the specific information that is needed for the insurer to adjudicate the claim. The health care insurer shall provide the notice required under this subsection within 30 calendar days after the insurer or third-party administrator under contract with the insurer receives the claim.

(c) If a health care insurer does not provide the notice as required under (b) of this section, the claim is presumed a clean claim, and interest shall accrue at a rate of 15 percent annually beginning on the day following the day that the notice was due and continues to accrue until the date that the claim is paid.

(d) If a health care insurer provides the notice required under (b) of this section and requests specific information that is needed to adjudicate the claim, the insurer shall pay the claim not later than 15 calendar days after receipt of the information specified in the notice or within 30 days after receipt of the claim. If a health care insurer does not pay the claim within the time period required under this subsection, the claim is presumed to be a clean claim, interest at a rate of 15 percent accrues, and interest continues to accrue until the date the claim is paid.

(e) For purposes of (c) and (d) of this section, if only a portion of a claim is covered under the terms of the insurance policy, interest accrues based only on the portion of the claim that is covered.

(f) For the purposes of this section, a claim is considered paid on the day payment is mailed or transmitted electronically.

(g) If interest is accrued on a claim under (c) or (d) of this section, a health care insurer may not include the amount of interest accrued in calculating an applicable limit on benefits payable to a covered person or other person claiming payments under the health insurance policy.

(h) A health care insurer is not required to pay interest due as a result of the application of (c) or (d) of this section if the amount of the interest is $1 or less.

(i) In this section, (1) clean claim means a claim that does not have a defect or impropriety, including a lack of any required substantiating documentation, or a particular circumstance requiring special treatment that prevents timely payment of the claim;

(2) health care insurer has the meaning given in AS 21.54.500 .
Alaska Stat. § 21.59.190 — AK Code / Title 21 / Chapter 21.59 / Section 21.59.190
Records.
Status: in_force

(a) The provider shall keep accurate accounts, books, and records related to the sale of motor vehicle service contracts, including (1) copies of each type of motor vehicle service contract sold;

(2) the name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder;

(3) the locations where motor vehicle service contracts are marketed, sold, or offered for sale; and

(4) claim files describing claims related to the motor vehicle service contracts.

(b) The provider shall retain all records required by this section for at least five years after a motor vehicle service contract has expired.

(c) Records required to be maintained under this section may be maintained electronically.

(d) A provider shall reply in writing within 10 working days to a records inquiry of the director. The director may inspect or request summary or detailed copies of records for examination by the division. Accounting and financial records inspected or examined under this section are confidential when in the possession of the division, but may be used by the director in a proceeding against the licensee.

(e) A provider discontinuing business in this state shall maintain records as required by this section until the provider's obligations to all service contract holders in this state have been discharged.
Alaska Stat. § 21.14.080 — AK Code / Title 21 / Chapter 21.14 / Section 21.14.080
Hearings.
Status: in_force

(a) An insurer may request a hearing to challenge an action of the director or request a stay of the director's action as provided under AS 21.06.180  21.06.240.

(b) An insurer shall request a hearing under (a) of this section within 15 days after the director's notice of (1) an adjusted risk based capital report under AS 21.14.010 ;

(2) an unsatisfactory risk based capital plan or revised risk based capital plan;

(3) a regulatory action level event based on an unsatisfactory risk based capital plan or revised risk based capital plan;

(4) the insurer's failure to adhere to its risk based capital plan or revised risk based capital plan and the failure has a substantial adverse effect on the insurer's ability to eliminate the company action level event in accordance with its plan or revised plan; or

(5) a corrective order applicable to the insurer.
Alaska Stat. § 21.42.020 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.020
Insurable interest: life, annuity, or health.
Status: in_force

(a) A person of competent legal capacity may procure or effect an insurance contract on the life or body of the person for the benefit of any person. A person may not procure or cause to be procured an insurance contract upon the life or body of another person unless the benefits under the contract are payable to the individual insured, the personal representatives of the individual insured, or to a person having, at the time the contract was made, an insurable interest in the individual insured.

(b) If the beneficiary, assignee, or other payee under a contract made in violation of this section receives from the insurer any benefits from the contract upon the death, disablement, or injury of the person insured, the person insured or the executor or administrator of the person insured may maintain an action to recover the benefits from the person receiving them.

(c) Notwithstanding the other provisions of this section, a charitable organization may obtain, by procurement, assignment, or otherwise, life or health insurance on an insured who consents to the issuance of the insurance. In this subsection, charitable organization means a charity that is exempt from taxation under 26 U.S.C. 501(c)(3) (Internal Revenue Code).

(d) Notwithstanding (a) of this section, a trustee, acting in a fiduciary capacity, may procure or cause to be procured an insurance contract that is on the life or body of an individual and under which the proceeds of the insurance contract are payable to the trustee, acting in a fiduciary capacity, if (1) the trustee, acting in a fiduciary capacity, owns the insurance contract or the trust itself owns the insurance contract;

(2) on the date the contract is made, a settlor of the trust is the individual insured, has an insurable interest in the individual insured, or would have had an insurable interest in the individual insured if the settlor were living at the time the contract was made; in this paragraph, settlor means a person, including a person for whom a fiduciary or agent is acting, who executes the trust instrument; and

(3) the proceeds of the contract are primarily for the benefit of a trust beneficiary who has an insurable interest in the individual insured, except that, if the determination of the trust beneficiary's insurable interest is based on (e)(1) of this section, the trust beneficiary's relation by blood or law must be within the third degree.

(e) Insurable interest, with reference to life, annuity, or health insurance, includes only the following interests: (1) in the case of persons related closely by blood or by law, a substantial interest engendered by love and affection;

(2) in the case of persons other than those described in (1) of this subsection, a lawful and substantial economic interest in having the life, health, or bodily safety of the person insured continue, as distinguished from an interest that would arise only by, or would be enhanced in value by, the death, disablement, or injury of the individual insured;

(3) an individual party to a contract or option for the purchase or sale of an interest in a business partnership or firm, or of shares of stock of a closed corporation or of an interest in the shares, has an insurable interest in the life of each individual party to the contract for the purposes of the contract only, in addition to an insurable interest that may otherwise exist as to the life of the individual.

(f) A person who has an insurable interest in the life or body of an individual may form a business firm that is substantially or solely for the purpose of purchasing, holding, or administering an insurance contract on the life or body of the individual. In this subsection, firm has the meaning given in AS 21.97.900 , but also includes a business trust and a joint venture.
Alaska Stat. § 21.96.200 — AK Code / Title 21 / Chapter 21.96 / Section 21.96.200
Good faith estimate.
Status: in_force

Upon request of a covered person who is receiving nonemergency health care services, a health care insurer shall provide a good faith estimate of the amount of the reasonably anticipated charges for treating the patient's specific condition under AS 18.23.400 (g).
Alaska Stat. § 21.78.110 — AK Code / Title 21 / Chapter 21.78 / Section 21.78.110
Order of liquidation, alien insurers.
Status: in_force

An order to liquidate the business of a United States branch of an alien insurer having trusteed assets in this state shall be in the same terms as those prescribed for domestic insurers, except that the assets of the business of the United States branch shall be the only assets included in the order.
Alaska Stat. § 21.66.410 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.410
Rate administration.
Status: in_force

(a) The director may prescribe by regulation (1) guidelines reasonably adaptable to each of the rating systems on file with the director;

(2) a uniform classification of accounts to be observed;

(3) statistics to be reported; and

(4) uniform forms for reporting this data by all title insurance companies.

(b) Regulations may be adopted by the director for the interchange of data necessary for the application of rating plans.

(c) In order to more uniformly administer rate regulations, the director and each title insurance company may exchange information and experience data with insurance supervisory officials, title insurance companies, and title insurance rating organizations in other states, and may consult with them and with each other with respect to rate making and the application of rating systems.
Alaska Stat. § 21.06.200 — AK Code / Title 21 / Chapter 21.06 / Section 21.06.200
Notice of hearing.
Status: in_force

Not less than 20 days in advance, the administrative law judge or director shall give notice of the time and place of the hearing, stating the matters to be considered at the hearing. If the persons to be given notice are not specified in the provision under which the hearing is held, the administrative law judge or director shall give notice to all persons whose pecuniary interests are to be directly and immediately affected by the hearing.
Alaska Stat. § 21.09.090 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.090
Deposit requirement.
Status: in_force

(a) This section applies to all insurers.

(b) The director may not authorize an insurer to transact insurance in this state unless it makes and thereafter maintains in trust in this state through the director for the protection of all its policyholders or of all its policyholders and creditors, a deposit of cash or securities eligible for deposit under AS 21.24.030 in the amount of no less than $300,000, except that (1) from foreign insurers, in lieu of the deposit or part thereof in this state, the director may accept the certificate in proper form of the public official having supervision over insurers in any other state to the effect that a like deposit or part thereof by the insurer is being maintained in public custody or control under the law in that state in trust for the protection generally of the insurer's policyholders or its policyholders and creditors, in the United States;

(2) from alien insurers, in lieu of the deposit or part thereof in this state, the director may accept evidence satisfactory to the director that the insurer maintains within the United States by way of trust deposits with public depositaries, or in trust institutions acceptable to the director, assets available for discharge of its United States insurance obligations, which assets shall be in an amount not less than the outstanding liabilities of the insurer arising out of its insurance transactions in the United States together with a surplus equal to the larger of the following sums: (A) the largest deposit required by this title to be made by a foreign insurer transacting like kinds of insurance; or

(B) $300,000; which surplus shall for all purposes under this title be considered to be the capital or surplus of the insurer.

(c) Deposits of foreign insurers, or deposits of alien insurers under (b)(2)(A) or (B) of this section in another state shall be in cash or securities of substantially as high quality as those eligible for deposit in this state under AS 21.24.030 .

(d) All such deposits in this state are subject to the applicable provisions of AS 21.24 .
Alaska Stat. § 21.69.260 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.260
Failure to qualify.
Status: in_force

If the proposed domestic insurer fails to complete its organization and to secure its original certificate of authority within one year from and after the date of its certificate of incorporation, its corporate powers shall cease, and the director shall return or cause to be returned to the persons entitled thereto all advance deposits or payments of premiums held in trust under AS 21.69.250 .
Alaska Stat. § 21.69.680 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.680
Succession of corporate officers during national emergency.
Status: in_force

At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of a national emergency and in the event of the death or incapacity of the president, the secretary, or the treasurer of the insurer, the officers, or any of them, shall be succeeded in the office by the person named or described in a succession list adopted by the board of directors. The list may be on the basis of named persons or position titles, must establish the order of priority, and may prescribe the conditions under which the powers of the office shall be exercised.
Alaska Stat. § 21.42.425 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.425
Coverage for prescription topical eye medication.
Status: in_force

(a) A health care insurer that offers, issues for delivery, delivers, or renews a health care insurance plan in the group or individual market in the state that provides coverage for prescription topical eye medication shall allow the early refill of a prescription for a topical eye medication to treat a chronic condition before the last day of the prescribed dosage period, without regard to a coverage restriction.

(b) A covered person may request an early refill under this section (1) not earlier than 23 days after a prescription for a 30-day supply is dispensed;

(2) not earlier than 45 days after a prescription for a 60-day supply is dispensed;

(3) not earlier than 68 days after a prescription for a 90-day supply is dispensed;

(4) if the prescriber has indicated the number of refills needed; and

(5) if the prescription topical eye medication being refilled is covered under the covered person's policy.

(c) A covered person may receive an early refill under this section not more than once during the approved dosage period.

(d) A covered person may only receive an early refill under this section if the refill does not exceed the number of refills prescribed.
Alaska Stat. § 21.69.210 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.210
Penalty for exhibiting false accounts, etc.
Status: in_force

A person determined by the director, following an appropriate hearing as provided in AS 21.06.170  21.06.230, to have knowingly exhibited, with intent to deceive, a false account, document, or advertisement, relative to the affairs of an insurer, or of a corporation or syndicate of the kind enumerated in AS 21.69.060 , formed or proposed to be formed, is subject to a civil penalty of not more than $25,000.
Alaska Stat. § 21.57.030 — AK Code / Title 21 / Chapter 21.57 / Section 21.57.030
Authorized types of consumer credit insurance.
Status: in_force

A type of consumer credit insurance defined in AS 21.57.160 may be written separately or in combination with other types of consumer credit insurance on an individual or group basis.
Alaska Stat. § 21.23.090 — AK Code / Title 21 / Chapter 21.23 / Section 21.23.090
Definitions.
Status: in_force

In AS 21.23.010  21.23.090, (1) insurance group means those insurers and affiliates included in an insurance holding company system as defined in AS 21.22.200 ;

(2) insurer has the meaning given in AS 21.97.900 , except that it does not include agencies, authorities, or instrumentalities of the United States or a possession or territory of the United States, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state;

(3) own risk and solvency assessment means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer's or insurance group's current business plan and the sufficiency of capital resources to support those risks;

(4) own risk and solvency assessment guidance manual means the Own Risk and Solvency Assessment Guidance Manual developed and most recently adopted by the National Association of Insurance Commissioners;

(5) own risk and solvency assessment summary report means a confidential, high-level summary of an insurer's or insurance group's own risk and solvency assessment;

(6) risk management framework means a set of internal policies or procedures that address an insurer's or insurance group's risk culture and governance, risk identification and prioritization, risk appetite, tolerance and limits, risk management controls, and risk reporting and communication as described in and most recently adopted by the own risk and solvency assessment guidance manual.

Article 2. Insurance Data Security.
Alaska Stat. § 21.60.020 — AK Code / Title 21 / Chapter 21.60 / Section 21.60.020
Replacement insurance.
Status: in_force

By a contract of insurance of property or of any insurable interest in the property, the insurer may in connection with a special provision or endorsement made a part of the policy insure the cost of repair or replacement of the property, if damaged or destroyed by a hazard insured against, and without deduction of depreciation, subject to reasonable regulations that may be adopted by the director.
Alaska Stat. § 21.48.140 — AK Code / Title 21 / Chapter 21.48 / Section 21.48.140
Insurability.
Status: in_force

The group life insurance policy must contain a provision setting out the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of the coverage.
Alaska Stat. § 21.42.300 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.300
Forms for proof of loss to be furnished.
Status: in_force

An insurer shall furnish, upon written request of the person claiming to have a loss under an insurance contract issued by the insurer, forms of proof of loss for completion by the person, but the insurer is not, by reason of the requirement to furnish forms, responsible for or with reference to the completion of the proof or the manner of the completion or attempted completion.
Alaska Stat. § 21.18.100 — AK Code / Title 21 / Chapter 21.18 / Section 21.18.100
Increase of reserves.
Status: in_force

If loss experience shows that an insurer's loss reserves or reserves for incurred but not reported losses, however computed or estimated, are inadequate, the director shall require the insurer to maintain loss reserves or reserves for incurred but not reported losses in the increased amount needed to make them adequate.
Alaska Stat. § 21.27.915 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.915
Overpayment or underpayment.
Status: in_force

(a) When a pharmacy benefits manager conducts an audit of a pharmacy, the pharmacy benefits manager shall base a finding of overpayment or underpayment by the pharmacy on the actual overpayment or underpayment and not on a projection based on the number of patients served having a similar diagnosis or on the number of similar orders or refills for similar drugs, except as provided in (b) of this section.

(b) A pharmacy benefits manager may resolve a finding of overpayment or underpayment by entering into a settlement agreement with the pharmacy. The settlement agreement (1) must comply with the requirements of AS 21.36.125 ; and

(2) may be based on a statistically justifiable projection method.

(c) A pharmacy benefits manager may not include the dispensing fee amount in a finding of an overpayment unless (1) a prescription was not actually dispensed;

(2) the prescriber denied authorization;

(3) the prescription dispensed was a medication error by the pharmacy; or

(4) the identified overpayment is solely based on an extra dispensing fee.
Alaska Stat. § 21.09.180 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.180
Director attorney for service of process.
Status: in_force

(a) Each insurer applying for authority to transact insurance in this state shall appoint the director as its attorney to receive service of legal process issued against it in this state. The appointment shall be made on a form designated and furnished by the director. The appointment shall be irrevocable, shall bind the insurer and any successor in interest to the assets or liabilities of the insurer, and shall remain in effect as long as there is in force in this state a contract made by the insurer or obligations arising from it.

(b) Service of process against a foreign or alien insurer shall be made only by service of process upon the director or upon a deputy or other person in charge of the office during the absence of the director. Service of process against a domestic insurer may be made either upon the director or upon the insurer corporation in the manner provided by laws applying to corporations generally, or upon the insurer's attorney-in-fact if a domestic reciprocal insurer.

(c) Each insurer at the time of application for a certificate of authority shall file with the director the name and address of the person to whom process against it served upon the director is to be forwarded. The insurer may change the designation by a new filing.
Alaska Stat. § 21.27.901 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.901
Registration of pharmacy benefits managers; scope of business practice.
Status: in_force

(a) A person may not conduct business in the state as a pharmacy benefits manager unless the person is registered with the director.

(b) A pharmacy benefits manager registered under this section may (1) contract with an insurer to administer or manage pharmacy benefits provided by an insurer for a covered person, including claims processing services for and audits of payments for prescription drugs and medical devices and supplies; and

(2) contract with network pharmacies.

(c) A pharmacy benefits manager (1) shall apply for registration following the same procedures for licensure set out in AS 21.27.040 ;

(2) is subject to hearings and orders on violations; denial, nonrenewal, suspension, or revocation of registration; penalties; and surrender of registration under the procedures set out in AS 21.27.405  21.27.460.

(d) Each day that a pharmacy benefits manager conducts business in the state as a pharmacy benefits manager without being registered is a separate violation of this section, and each separate violation is subject to the maximum civil penalty under AS 21.97.020 .
Alaska Stat. § 21.34.035 — AK Code / Title 21 / Chapter 21.34 / Section 21.34.035
Health care insurance.
Status: in_force

(a) Except for a multiple employer welfare arrangement, health care insurance may be placed in and written by a nonadmitted insurer if (1) the director finds it is in the best interest of the public and issues an order to that effect; and

(2) the insurance is in compliance with this chapter.

(b) The rates and rating methods for health care insurance placed and written under this section are subject to AS 21.51.405 and AS 21.54.015 . The surplus lines broker shall make the filings required under AS 21.51.405 and AS 21.54.015 and maintain the records and accounts as required under AS 21.87.230 .

(c) Health care insurance may not be procured under this chapter (1) for the purpose of obtaining a lower premium rate than acceptable by an authorized insurer; or

(2) for obtaining a competitive advantage.

(d) Insurance placed in or written by a nonadmitted insurer and the activities of the surplus lines broker relating to that transaction are subject to this title.

(e) In this section, health care insurance has the meaning given in AS 21.12.050 (b).
Alaska Stat. § 21.79.170 — AK Code / Title 21 / Chapter 21.79 / Section 21.79.170
Determination of principal place of business.
Status: in_force

The principal place of business of a plan sponsor consisting of (1) a single employer or an employee organization is that state in which the plan sponsor exercises the direction, control, and coordination of the operations of the entity, as determined by the association in its reasonable judgment by considering the following factors: (A) the state in which the primary executive and administrative headquarters of the entity are located; (B) the state in which the principal office of the chief executive officer of the entity is located; (C) the state in which the board of directors or a similar governing body of the entity conducts the majority of its meetings; (D) the state in which the executive or management committee of the board of directors or a similar governing body of the entity conducts the majority of its meetings; (E) the state from which the management of the overall operations of the entity is directed; and (F) in the case of a benefit plan sponsored by affiliated companies making up a consolidated corporation, the state in which the holding company or controlling affiliate has its principal place of business as determined using the factors described in (A)  (E) of this paragraph; however, if more than 50 percent of the participants in the benefit plan are employed in a single state, that state is considered to be the principal place of business of a plan sponsor that is a single employer or an employee organization;

(2) two or more employers or employee organizations is that state in which the employers or employee organizations have the largest investment in the benefit plan.
Alaska Stat. § 21.87.040 — AK Code / Title 21 / Chapter 21.87 / Section 21.87.040
Incorporation and certificate of authority required.
Status: in_force

A person otherwise subject to this chapter may not engage or purport to engage in the provision of any part or all of a health care service for its subscribers in exchange for periodic prepayments in identifiable amount unless it is a service corporation incorporated under the laws of this state, and currently authorized as such a service corporation under a certificate of authority issued by the director under this chapter.
Alaska Stat. § 21.72.080 — AK Code / Title 21 / Chapter 21.72 / Section 21.72.080
Minimum membership.
Status: in_force

Each benevolent association shall have at all times not less than 200 members in good standing.
Alaska Stat. § 21.75.310 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.310
Certificate of authority of cooperative insurer.
Status: in_force

If the director is satisfied that the plan of insurance and other information provided by petitioners under AS 21.75.300 permits a sound insurance operation and complies with all other applicable requirements for a certificate of authority, the director shall issue a certificate of authority to the insurer.
Alaska Stat. § 21.72.070 — AK Code / Title 21 / Chapter 21.72 / Section 21.72.070
Receipts for payment to association.
Status: in_force

Every benevolent association shall issue a receipt or other evidence of payment to each person making a payment of any kind to the association.
Alaska Stat. § 21.69.590 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.590
Mergers and consolidations of stock insurers.
Status: in_force

(a) A domestic stock insurer may merge or consolidate with one or more domestic or foreign stock insurers authorized to transact insurance in this state, by complying with the applicable provisions of the statutes of this state governing the merger or consolidation of stock corporations formed for profit, but subject to (b) and (c) of this section.

(b) A merger or consolidation may not be effectuated unless the plan and agreement for it have been filed with the director and approved in writing by the director after a hearing. The director shall give approval within a reasonable time after the filing unless the director finds the plan or agreement (1) is contrary to law;

(2) inequitable to the stockholders of a domestic insurer involved; or

(3) would substantially reduce the security of and service to be rendered to policyholders of the domestic insurer in this state or elsewhere.

(c) A director, officer, agent, or employee of an insurer party to the merger or consolidation may not receive a fee, commission, compensation, or other valuable consideration for aiding, promoting, or assisting therein except as set out in the plan or agreement.

(d) If the director does not approve the plan or agreement the director shall so notify the insurer in writing specifying the reasons.

(e) If a domestic insurer involved in the proposed merger or consolidation is authorized to transact insurance also in other states, the director may request the insurance commissioner, director of insurance, superintendent of insurance, or other similar public insurance supervisory official of the two other states in which the insurer has in force the larger amounts of insurance, to participate in the hearing provided for under (b) of this section, with full right to examine all witnesses and evidence and to offer to the director the pertinent information and suggestions they consider proper.

(f) A plan or proposal through which a stock insurer proposes to acquire a controlling stock interest in another stock insurer through an exchange of stock of the first insurer, issued by the insurer for the purpose, for the controlling stock of the second insurer, is considered to be a plan or proposal of merger of the second insurer into the first insurer for the purposes of this section and is subject to the applicable provisions hereof.
Alaska Stat. § 21.36.490 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.490
Premium financing.
Status: in_force

A person licensed under AS 21.27 may not (1) enter into any insurance transaction in which the premium is financed by other than the licensee unless the person providing the financing is licensed under and in compliance with AS 06.40 or is exempted from licensure under AS 06.40.020 ; or

(2) finance premiums or extend credit to persons purchasing insurance except as provided in regulations adopted by the director; the director shall adopt regulations establishing the conditions under which licensees may extend credit or finance premiums except that in no event may the regulations permit a rate of interest on amounts lent or credit extended greater than that provided in AS 06.40.120 .
Alaska Stat. § 21.42.290 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.290
Minor may give acquittance.
Status: in_force

(a) A minor domiciled in this state who has attained the age of 16 years shall be considered competent to receive and to give full acquittance and discharge for a payment or payments in aggregate amount not exceeding $3,000 in any one year made by a life insurer under the maturity, death, or settlement agreement provisions in effect or elected by the minor under a life insurance policy or annuity contract, if the policy, contract, or agreement provides for the payment or payments to the minor, and if before the payment the insurer has not received written notice of the appointment of a duly qualified guardian of the property of the minor. A minor is not competent to alienate to the right to or to anticipate the payments.

(b) This section does not require an insurer to determine whether another insurer is effecting a similar payment to the same minor.
Alaska Stat. § 21.78.270 — AK Code / Title 21 / Chapter 21.78 / Section 21.78.270
Setoffs and counterclaims.
Status: in_force

(a) Except as provided in (b) of this section and in AS 21.78.271 , a mutual debt or mutual credit between an insurer and another person in connection with an action or proceeding under this chapter shall be set off, and only the balance may be allowed or paid.

(b) A setoff or counterclaim may not be allowed in favor of a person if the obligation of the (1) insurer to the person would not, at the date of the filing of a petition for liquidation, entitle the person to share as a claimant in the assets of the insurer;

(2) insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff;

(3) person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or

(4) person is to pay premiums, whether earned or unearned, to the insurer.
Alaska Stat. § 21.14.040 — AK Code / Title 21 / Chapter 21.14 / Section 21.14.040
Authorized control level event.
Status: in_force

If an authorized control level event occurs, the director shall take the action necessary (1) under AS 21.14.030 (a) against the insurer; or

(2) to place the insurer under regulatory control under AS 21.78 .
Alaska Stat. § 21.75.210 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.210
Time limit for assessments.
Status: in_force

A subscriber of a domestic reciprocal insurer having contingent liability is liable for and shall pay the subscriber's share of any assessment, as computed and limited under this chapter, if (1) while the subscriber's policy is in force or within one year after its termination, the subscriber is notified by either the attorney-in-fact or the director of an intention to levy the assessment; or

(2) an order to show cause why a receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while the subscriber's policy is in force or within one year after its termination.
Alaska Stat. § 21.84.475 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.475
License.
Status: in_force

Societies that are authorized to transact business in this state on January 1, 1998, and societies licensed after January 1, 1998 and before July 1, 1998, may continue the business through June 30, 1998. The authority of those societies and all other societies licensed after January 1, 1998 may be renewed annually, but, in all cases, terminates on the first day of the succeeding July. However, a license issued continues in full force and effect until the new license is issued or specifically refused. For each license or renewal, the society shall pay a fee set under AS 21.06.250 . A certified copy or duplicate of the license shall be prima facie evidence that the licensee is a fraternal benefit society under this chapter.
Alaska Stat. § 21.69.570 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.570
Mutualization of stock insurers.
Status: in_force

(a) A stock insurer other than a title insurer may become a mutual insurer under the plan and procedure that may be approved by the director after a hearing.

(b) The director may not approve a plan, procedure, or mutualization unless (1) it is equitable to stockholders and policyholders;

(2) it is subject to approval by the holders of not less than three-fourths of the insurer's outstanding capital stock having voting rights and by not less than two-thirds of the insurer's policyholders who vote on the plan in person, by proxy, or by mail under the notice and procedure which may be approved by the director;

(3) if a life insurer, the right to vote on it is limited to holders of policies other than term or group policies, and whose policies have been in force for more than one year;

(4) mutualization will result in retirement of shares of the insurer's capital stock at a price not in excess of the fair market value as determined by competent disinterested appraisers;

(5) the plan provides for the purchase of the shares of a nonconsenting stockholder in the same manner and subject to the same applicable conditions as provided by the general corporation law of the state, as to rights of nonconsenting stockholders, with respect to consolidation or merger of private corporations;

(6) the plan provides for definite conditions to be fulfilled by a designated early date upon which the mutualization will be considered effective;

(7) the mutualization leaves the insurer with surplus funds reasonably adequate for the security of its policyholders and to enable it to continue successfully in business in the state in which it is then authorized to transact insurance, and for the kinds of insurance included in its certificates of authority in those states.

(c) This section does not apply to mutualization ordered by a court to rehabilitate or reorganize an insurer under AS 21.78 .
Alaska Stat. § 21.23.290 — AK Code / Title 21 / Chapter 21.23 / Section 21.23.290
Confidentiality.
Status: in_force

(a) Any document, material, or information in the possession or control of the division that is provided by a licensee or an employee or agent acting on behalf of a licensee under AS 21.23.260 (f) or 21.23.280(b)(2)  (5), (8), (10), or (11) or that is obtained by the director in an investigation or examination under AS 21.23.310 (1) is confidential and privileged;

(2) is not subject to inspection and copying under AS 40.25.110  40.25.220;

(3) may not be obtained by subpoena or discovery; and

(4) is not admissible in evidence in a private civil action.

(b) The director may use a document, material, or information described in (a) of this section in a regulatory or legal proceeding brought in the performance of the duties of the director under this title.

(c) The director or an individual acting under the authority of the director who receives a document, material, or information described in (a) of this section may not testify about the document, material, or information in a private civil action.

(d) In the performance of duties under AS 21.23.240  21.23.399, the director (1) may disclose a document, material, or information, including a document, material, or information that is confidential and privileged or subject to (a) of this section, to state, federal, and international regulatory or law enforcement agencies, or to the National Association of Insurance Commissioners and its affiliates or subsidiaries, if the recipient agrees in writing to maintain the confidentiality and privileged status of the document, material, or information;

(2) may receive a document, material, or information, including a document, material, or information that is confidential and privileged, from the National Association of Insurance Commissioners and its affiliates or subsidiaries, and from state, federal, and international regulatory or law enforcement agencies; the director shall maintain as confidential or privileged the document, material, or information if the entity that provided the director with the document, material, or information requests the director to do so or gives notice to the director that the document, material, or information is confidential or privileged under the law of the jurisdiction supplying it;

(3) may disclose a document, material, or information that is subject to (a) of this section with a third-party service provider if the third-party service provider agrees in writing to maintain the confidentiality and privileged status of the document, material, or information; and

(4) may enter into agreements consistent with this section governing the sharing and use of a document, material, or information that is confidential or privileged or subject to (a) of this section.

(e) A person does not waive a claim of privilege or confidentiality that the person possesses by providing a document, material, or information to the director under AS 21.23.240  21.23.399 or by the disclosure, receipt, or sharing of a document, material, or information under (d) of this section.
Alaska Stat. § 21.22.070 — AK Code / Title 21 / Chapter 21.22 / Section 21.22.070
Review by director.
Status: in_force

If at any time the director determines that any material transaction entered into between an insurer and any of its affiliates does not meet the standards set out in AS 21.22.080 , the director may, after hearings conducted in accordance with AS 21.06 , require the insurer and the affiliate to terminate, set aside, or modify the transaction as considered appropriate by the director to make the transaction conform to those standards. An insurer may submit a proposed material transaction to the director for review and the director may issue an opinion that the transaction meets the standard set out in AS 21.22.080 . The opinion creates a rebuttable presumption that neither the insurer, director, officer, employee, nor agent committed a wilful violation of this chapter by entering into the transaction. The opinion does not prohibit the director from subsequently exercising authority under this section.
Alaska Stat. § 21.66.460 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.460
Filing required for escrow, settlement, and closing charges.
Status: in_force

(a) Each title insurance company shall file with the director a schedule of the escrow, settlement, and closing charges that it proposes to use in this state for these services when performed in connection with the issuance of policies of title insurance. The filing must state the effective date of the schedule, which shall be not less than 30 days after the date of filing with the director.

(b) All or any part of the schedule may be amended at any time. Each amendment shall be filed with the director, and shall state its effective date, which must be not less than 30 days after the date of its filing with the director.

(c) Copies of schedules filed under this section shall be retained in each of the offices of a title insurance company in this state, and, upon request shall be furnished to the public.

(d) A title insurance company may not make or impose a charge for escrow, settlement, or closing services when performed in connection with the issuance of a policy of title insurance except in accordance with the schedule of the charges filed with the director under this section.
Alaska Stat. § 21.54.040 — AK Code / Title 21 / Chapter 21.54 / Section 21.54.040
Application and certificates not required.
Status: in_force

An individual application may not be required from a person covered under a blanket health insurance policy or contract, nor is it necessary for the insurer to furnish each person a certificate.
Alaska Stat. § 21.86.190 — AK Code / Title 21 / Chapter 21.86 / Section 21.86.190
Suspension or revocation of certificate of authority.
Status: in_force

(a) After compliance with AS 21.86.200 , the director may suspend or revoke a certificate of authority issued to a health maintenance organization under this chapter if (1) the health maintenance organization is operating significantly in contravention of its basic organizational document or in a manner contrary to that described in other information submitted under AS 21.86.010 or 21.86.020;

(2) the health maintenance organization issues an evidence of coverage, or uses a schedule of charges for health care services, that does not comply with the requirements of AS 21.86.070 ;

(3) the health maintenance organization does not provide or arrange for the provision of basic health care services;

(4) the health maintenance organization is not in compliance with state and federal statutes and regulations as required under AS 21.86.010 (b)(12), or is unable to fulfill its obligations to furnish health care services;

(5) the health maintenance organization is no longer financially responsible and may reasonably be expected to be unable to meet its obligations to enrollees or prospective enrollees;

(6) the health maintenance organization has failed to implement a mechanism affording the enrollees an opportunity to participate in matters of policy and operation under AS 21.86.040 ;

(7) the health maintenance organization has failed to implement the complaint system required by AS 21.86.100 in a reasonable manner to resolve valid complaints;

(8) the health maintenance organization, or any person on its behalf, has advertised or merchandised its services in an untrue, misrepresentative, misleading, deceptive, or unfair manner;

(9) the continued operation of the health maintenance organization would be hazardous to its enrollees;

(10) the health maintenance organization has otherwise failed substantially to comply with this chapter.

(b) If the certificate of authority of a health maintenance organization is suspended, the health maintenance organization may not, during the period of the suspension, enroll additional enrollees except newborn children or other newly acquired dependents of existing enrollees, and may not engage in advertising or solicitation. The director may, by written order, specify limitations in the operation of the organization during the period of suspension as the director finds to be in the best interests of enrollees.

(c) If the certificate of authority of a health maintenance organization is revoked, the organization shall, immediately following the effective date of the order of revocation, proceed to wind up its affairs, and may not conduct further business except that essential to the orderly conclusion of the affairs of the organization. The organization may not engage in further advertising or solicitation. The director may, by written order, permit continued operation of the organization as the director finds to be in the best interest of enrollees, so that enrollees will be afforded the greatest practical opportunity to obtain continuing health care coverage.
Alaska Stat. § 21.69.270 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.270
Additional kinds of insurance.
Status: in_force

A domestic mutual insurer, after being authorized to transact one kind of insurance, may be authorized by the director to transact the additional kinds of insurance that are permitted under AS 21.09.060 while otherwise in compliance with this title and while maintaining unimpaired surplus funds in an amount not less than the amount of paid-in capital stock required of a domestic stock insurer transacting like kinds of insurance, subject further to the additional expendable surplus requirements of AS 21.09.080 applicable to such a stock insurer.
Alaska Stat. § 21.69.540 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.540
Assessment of stockholders or members.
Status: in_force

(a) An insurer receiving the director's notice mentioned in AS 21.69.530 (a) (1) if a stock insurer, by resolution of its board of directors and subject to limitations upon assessment contained in its articles of incorporation, may assess its stockholders for amounts necessary to cure the deficiency and provide the insurer with a reasonable amount of surplus in addition; if a stockholder fails to pay a lawful assessment after notice given to the stockholder in person or by advertisement in the time and manner approved by the director, the insurer may require the return of the original certificate of stock held by the stockholder, and issue a new certificate for the number of shares the stockholder may then be entitled to, upon the basis of the stockholder's proportionate interest in the amount of the insurer's capital stock as determined by the director to be remaining at the time of determination of amount of impairment under AS 21.69.530 , after deducting from the proportionate interest the amount of the unpaid assessment; the insurer may pay for or reissue fractional shares under this subsection;

(2) if a mutual insurer, shall levy an assessment upon members as provided for under AS 21.69.440 ;

(b) Neither this section nor AS 21.69.530 prohibits the insurer from curing the deficiency through any lawful means other than those referred to in those sections.
Alaska Stat. § 21.55.210 — AK Code / Title 21 / Chapter 21.55 / Section 21.55.210
Duties of plan administrator.
Status: in_force

(a) The plan administrator shall perform the administrative and claims payment functions required by this section. The plan administrator shall provide these services for a period specified in the contract between the association and the plan administrator subject to the terms, conditions, and limitations of the contract between the association and the plan administrator. At least six months before the expiration of each contract period, the board shall invite eligible entities, including the plan administrator, to submit bids to serve as the plan administrator. The board shall follow the provisions of this subsection in selecting a plan administrator for the subsequent contract period.

(b) The plan administrator shall provide to all eligible persons enrolled in a state plan an individual policy setting out a statement of the insurance protection to which the person is entitled, with whom claims are to be filed, and to whom benefits are payable. The policy must indicate that coverage was obtained through the association.

(c) The plan administrator shall submit to the board and the director on a regular basis a report on the operation of the state plans. The board shall determine the specific information to be contained in the report and that information shall be specified in the contract between the association and the plan administrator.

(d) The plan administrator shall pay claims and shall indicate when a claim is paid under a state plan. A claim payment must include a telephone number that can be used for inquiries regarding the claim.

(e) The plan administrator shall (1) be reimbursed from the state plan receipts for services rendered in connection with administering the plan; and

(2) at all times when carrying out its duties under this chapter be considered an agent of the association.
Alaska Stat. § 21.42.375 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.375
Coverage for mammograms.
Status: reserved

(a) Except for a fraternal benefit society, a health care insurer that offers, issues for delivery, delivers, or renews in this state a health care insurance plan shall provide coverage for low-dose mammography screening under the schedule described in (b) of this section if the plan covers mastectomies and prosthetic devices and reconstructive surgery incident to mastectomies.

(b) The minimum coverage required under (a) of this section includes (1) a baseline mammogram for a covered individual who is at least 35 years of age but less than 40 years of age;

(2) one mammogram every two years for a covered individual who is at least 40 years of age but less than 50 years of age;

(3) an annual mammogram for a covered individual who is at least 50 years of age;

(4) a mammogram at any age for a covered individual with a history of breast cancer or whose parent or sibling has a history of breast cancer, upon referral by a physician.

(c) The coverage required by this section (1) must be included in the health care insurance plan on a basis that is not less favorable than for other radiological examinations;

(2) may be subject to standard policy provisions applicable to other benefits, such as deductible or copayment provisions.

(d) [Repealed, § 115 ch 81 SLA 1997.] (e) In this section, (1) diagnostic breast examination means an examination of the breast using contrast-enhanced mammography, diagnostic mammography, breast magnetic resonance imaging, breast ultrasound, or other equipment dedicated specifically for mammography conducted to evaluate an abnormality (A) detected or suspected in a screening examination for breast cancer; or

(B) detected by another means of examination;

(2) low-dose mammography screening and mammogram mean the X-ray examination of the breast using equipment dedicated specifically for mammography, including the X-ray tube, filter, compression device, screens, films, and cassettes, with an average radiation exposure delivery of less than one rad mid-breast, with two views for each breast;

(3) supplemental breast examination means an examination of the breast using contrast-enhanced mammography, diagnostic mammography, breast magnetic resonance imaging, breast ultrasound, or other equipment dedicated specifically for mammography conducted based on (A) the insured's personal or family medical history of breast cancer; or

(B) other factors that may increase the insured's risk of breast cancer.

(f) Except as necessary to qualify a plan as a high deductible health plan eligible for a health savings account tax deduction under 26 U.S.C. 223 (Internal Revenue Code), a health care insurer that offers, issues, delivers, or renews a health care insurance plan in the individual or group market in the state that provides coverage for mammography screening, diagnostic breast examinations, and supplemental breast examinations may not impose cost sharing, a deductible, coinsurance, a copayment obligation, or another similar out-of-pocket expense on an insured for coverage of a low-dose mammography screening, diagnostic breast examination, or supplemental breast examination.
Alaska Stat. § 21.48.180 — AK Code / Title 21 / Chapter 21.48 / Section 21.48.180
Conversion on termination of eligibility.
Status: in_force

The group life insurance policy must contain a provision that if the insurance, or any portion of it, on a person covered under the policy ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, the person shall be entitled to have issued to the person by the insurer, without evidence of insurability, an individual policy of life insurance without health insurance or other supplementary benefits, provided application for the individual policy is made, and the first premium paid to the insurer, within 31 days after the termination, and provided further that (1) the individual policy shall, at the option of the person, be on any one of the forms, except term insurance, then customarily issued by the insurer at the age and for the amount applied for;

(2) the amount of the individual policy may not be in excess of the amount of life insurance that ceases because of the termination, less the amount of any life insurance for which the person is or becomes eligible under the same or any other group policy within 31 days after the termination, provided that any amount of insurance that matured on or before the date of the termination as an endowment payable to the person insured, whether in one sum or in installments or in the form of annuity, may not, for the purpose of this provision, be included in the amount that is considered to cease because of the termination;

(3) the premium on the individual policy shall be at the insurer's then customary rate applicable to the form and amount of the individual policy, to the class of risk to which the person then belongs, and to the person's age attained on the effective date of the individual policy.
Alaska Stat. § 21.09.080 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.080
Capital funds required of old domestic insurers.
Status: reserved

(a) In order for a domestic insurer to renew and continue the insurer's certificate of authority after January 1, 1992, the insurer must possess at least the basic capital, basic guarantee surplus, and additional maintained surplus required under AS 21.09.070 (a).

(b) [Repealed, § 85 ch 50 SLA 1990.] (c) [Repealed, § 85 ch 50 SLA 1990.] (d) Notwithstanding the provisions of this section, a domestic life insurer duly licensed and capitalized on December 31, 1984, shall have and maintain the capital and surplus required under the laws of this state on December 31, 1984, as if the laws had continued in force. This subsection does not apply to a domestic life insurer if the ownership of the insurer is changed, or the class, line, and volume of the business written is materially changed from that written on December 31, 1984.
Alaska Stat. § 21.12.130 — AK Code / Title 21 / Chapter 21.12 / Section 21.12.130
Commercial insurance defined.
Status: in_force

Commercial insurance is any line of property insurance, as defined in AS 21.12.060 , or casualty insurance, as defined in AS 21.12.070 , that is for business and professional interests, whether for profit, nonprofit, or public in nature. For purposes of filing rates under AS 21.39.040 and forms under AS 21.42.120 , commercial insurance does not include workers' compensation insurance.
Alaska Stat. § 21.51.020 — AK Code / Title 21 / Chapter 21.51 / Section 21.51.020
Scope, format of policy.
Status: in_force

A policy of health insurance may not be delivered or issued for delivery to a person in this state unless it otherwise complies with this title, and complies with the following: (1) the entire money and other considerations must be expressed in the policy;

(2) the time the insurance takes effect and terminates must be expressed in the policy;

(3) it must insure only one person, except that a policy may insure, originally or by subsequent amendment, upon the application of an adult member of a family, who shall be considered the policyholder, any two or more eligible members of that family, including husband, wife, dependent children, or any children under a specified age, which may not exceed 25 years, and any other person dependent on the policyholder;

(4) the style, arrangement, and over-all appearance of the policy must give no undue prominence to any portion of the text, and every printed portion of the text of the policy and of endorsements or attached papers must be plainly printed in light-faced type of a style in general use, the size of which must be uniform and not less than 10 point with a lower case unspaced alphabet length not less than 120 point; in this paragraph, text includes all printed matter except the name and address of the insurer, name or title of the policy, the brief description, if any, and captions and subcaptions;

(5) the exceptions and reductions of indemnity must be set out in the policy and, other than those contained in AS 21.51.040 - 21.51.260, must be printed, at the insurer's option, either included with the benefit provision to which they apply, or under an appropriate caption such as Exceptions, or Exceptions and Reductions, except that if an exception or reduction specifically applies only to a particular benefit of the policy, a statement of the exception or reduction must be included with the benefit provision to which it applies;

(6) each form, including riders and endorsements, must be identified by a form number in the lower left-hand corner of the first page;

(7) the policy may not contain a provision making a portion of the charter, rules, constitution, or bylaws of the insurer a part of the policy unless the portion is set out in full in the policy; this paragraph does not apply to the incorporation of, or reference to, a statement of rates or classification of risks, or short- rate table filed with the director.
Alaska Stat. § 21.86.090 — AK Code / Title 21 / Chapter 21.86 / Section 21.86.090
Information to enrollees.
Status: in_force

A health maintenance organization shall promptly notify its enrollees of a material change in its operation that would directly affect the enrollees.
Alaska Stat. § 21.39.041 — AK Code / Title 21 / Chapter 21.39 / Section 21.39.041
Prior approval.
Status: in_force

(a) Except for workers' compensation prospective loss cost filings and workers' compensation assigned risk pool rates by a rating organization under AS 21.39.043 , an insurer or rating organization shall file medical malpractice, workers' compensation and assigned risk plan rating systems as specified in AS 21.39.040 (a) with the director for review and approval prior to use. Each filing shall be on file for a waiting period of 15 days before it becomes effective. This period may be extended by the director for an additional period not to exceed 15 days if the director gives written notice within the waiting period to the insurer or rating organization that made the filing stating that additional time for the consideration of the filing is required. The director shall approve the filing upon a determination that the filing meets the requirements of this title.

(b) The filing must include the effective date. In place of a specific date, the insurer or rating organization may specify a reasonable time period after approval for the filing to be effective.

(c) Upon written application by the insurer or rating organization, the director may authorize a filing that the director has approved to become effective before the expiration of the waiting period. A filing shall be considered to meet the requirements of this title unless disapproved by the director within the waiting period.

(d) If the insurer or rating organization fails to provide information requested by the director under AS 21.39.040 (d) within 30 days after the director requests the information, the response period may be extended by the director for an additional 15 days upon written application of the insurer or rating organization within the initial 30-day response period. The director shall consider the failure to provide information as a request by the insurer or rating organization to withdraw the filing from further consideration.

(e) A filing and supporting information shall be open to public inspection after the filing becomes effective.

(f) If, within the review period provided for in (a) of this section, the director finds that a filing does not meet the requirements of this title, the director shall send to the insurer or rating organization that made the filing written notice of disapproval of the filing specifying in what respects the filing fails to meet the requirements of this title and stating that the filing may not become effective.
Alaska Stat. § 21.84.070 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.070
Filing articles and documents.
Status: in_force

The articles of incorporation, certified copies of the domestic society's laws and rules, copies of all proposed forms of certificates, applications, and circulars to be issued by the society, and a bond conditioned upon the return to applicants of the advanced payments if the organization is not completed within one year, shall be filed with the director, who may require further information considered necessary. The bond with sureties approved by the director shall be in an amount, not less than $300,000 or more than $1,500,000, required by the director. All documents filed are to be in the English language. If the purposes of the society conform to the requirements of this chapter and all provisions of the law have been complied with, the director shall so certify, retain, and file the articles of incorporation and furnish the incorporators a preliminary certificate of authority authorizing the society to solicit members as hereinafter provided.
Alaska Stat. § 21.22.110 — AK Code / Title 21 / Chapter 21.22 / Section 21.22.110
Examination.
Status: in_force

(a) In addition to the director's authority to examine insurers under AS 21.06.120  21.06.170, the director may examine an insurer registered under AS 21.22.060 and its affiliates to ascertain the financial condition of the insurer, including the enterprise risk to the insurer by the ultimate controlling party, by any entity or combination of entities within the insurance holding company system, or by the insurance holding company system on a consolidated basis.

(b) The director may (1) order an insurer registered under AS 21.22.060 to produce the records, books, or other information or papers in the possession of the insurer or its affiliates that are reasonably necessary to determine compliance with this chapter;

(2) order an insurer registered under AS 21.22.060 to produce information not in the possession of the insurer if the insurer can obtain access to the information under contractual relationships, statutory obligations, or other method; in the event the insurer cannot obtain the information requested by the director, the insurer shall provide the director a detailed explanation of the reason that the insurer cannot obtain the information and the identity of the holder of information; if the director determines that the detailed explanation is without merit, the director may, after notice and hearing, require the insurer to pay a penalty of $250 for each day's delay in providing the requested information, or may suspend or revoke the insurer's license;

(3) in the event the insurer fails to comply with an order under this subsection, examine or issue subpoenas to the insurer's affiliates to obtain the information.

(c) The director may retain, at the registered insurer's expense, attorneys, actuaries, accountants, and other experts not otherwise a part of the director's staff as may be necessary to assist in the conduct of an examination under (a) of this section. Any persons so retained are under the direction and control of the director and shall act in a purely advisory capacity.

(d) Each registered insurer producing for examination records, books, and papers under (a) of this section is liable for and shall pay the expense of an examination in accordance with AS 21.06.160 .
Alaska Stat. § 21.09.430 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.430
Contents of corporate governance annual disclosure.
Status: in_force

(a) An insurer or insurance group may have discretion in responding to a corporate governance annual disclosure inquiry if the insurer's or insurance group's disclosure contains the material necessary for the director to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices. The director may request additional information the director determines necessary for the director to have a clear understanding of the insurer's or insurance group's corporate governance policies, reporting or information system, or controls implementing those policies.

(b) An insurer or insurance group shall prepare a corporate governance annual disclosure consistent with regulations adopted by the director under AS 21.09.420 . An insurer or insurance group shall maintain documents and supporting information used in preparing the insurer's or insurance group's disclosure and shall make the documents and supporting information available upon examination or request of the director.
Alaska Stat. § 21.42.230 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.230
Construction of policies.
Status: in_force

Each insurance contract shall be construed according to the entirety of its terms and conditions as set out in the policy and as amplified, extended, or modified by a rider, endorsement, or application that is a part of the policy.
Alaska Stat. § 21.09.207 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.207
Statement of actuarial opinion and supporting documentation.
Status: in_force

(a) An insurer authorized to write property, casualty, surety, marine, wet marine, transportation, or mortgage guaranty insurance shall file annually with the director a statement of actuarial opinion, unless the insurer is exempt or otherwise not required to file an opinion in the insurer's state of domicile. The statement of actuarial opinion must (1) be issued by an actuary appointed by the insurer;

(2) follow, for a given year, the reporting format and requirements specified in the annual financial statement instructions most recently approved by the National Association of Insurance Commissioners; and

(3) be supplemented with additional information as may be required by the director.

(b) A domestic insurer that is required to file a statement under (a) of this section shall file annually with the director an actuarial opinion summary written by the insurer's appointed actuary. A foreign insurer that is required to file a statement under (a) of this section shall, on written request of the director, file an actuarial opinion summary with the director. The actuarial opinion summary must follow, for a given year, the reporting format and requirements specified in the annual financial statement instructions most recently approved by the National Association of Insurance Commissioners and must be supplemented with additional information as required by the director.

(c) An insurer that is required to file a statement under (a) of this section shall prepare an actuarial report and work papers to support each statement of actuarial opinion as required by the annual financial statement instructions most recently approved by the National Association of Insurance Commissioners. If an insurer fails to provide a supporting actuarial report or work papers at the request of the director, or the director determines that the supporting actuarial report or work papers provided by the insurer are incomplete or otherwise unacceptable to the director, the director may engage a qualified actuary at the expense of the insurer to review the statement of actuarial opinion and the basis for the statement and to prepare the supporting actuarial report or work papers.

(d) An actuarial report, actuarial opinion summary, or work paper provided in support of a statement of actuarial opinion and any other information provided by an insurer to the director in connection with the statement of actuarial opinion, the actuarial opinion summary, or the actuarial report issued under this section is confidential; however, nothing in this section limits the director's authority to release the documents to a national professional organization that disciplines actuaries that is recognized by the director, as long as the material is required for the purpose of professional disciplinary proceedings and the national professional organization establishes procedures satisfactory to the director for preserving the confidentiality of the documents.

(e) In this section, (1) appointed actuary means a qualified actuary who is appointed or retained by a company to provide a statement of actuarial opinion and the related actuarial opinion summary, actuarial report, and work papers;

(2) qualified actuary means a member in good standing of the (A) Casualty Actuarial Society; or

(B) American Academy of Actuaries who has been approved as qualified for signing casualty loss reserve opinions by the Casualty Practice Council of the American Academy of Actuaries.
Alaska Stat. § 21.96.015 — AK Code / Title 21 / Chapter 21.96 / Section 21.96.015
Workplace safety program.
Status: in_force

An insurer who provides workers' compensation insurance in this state shall establish and maintain a workplace safety rate reduction program, subject to the approval of the division.
Alaska Stat. § 21.57.060 — AK Code / Title 21 / Chapter 21.57 / Section 21.57.060
Provisions of policies and certificates of insurance.
Status: in_force

(a) Consumer credit insurance shall be evidenced by an individual policy or a group certificate of insurance.

(b) The individual policy or group certificate must, in addition to other requirements of law, set out (1) the name and home office address of the insurer;

(2) the name of the debtor;

(3) the premium to be paid by the debtor disclosed separately for each kind of coverage or for all coverage in a package, except that, for open-ended loans, the premium rate and the basis of premium calculation must be specified;

(4) a full description of the coverage, including the amount, the term, and any exceptions, limitations, or exclusions;

(5) a statement that the benefits shall be paid to the creditor to reduce or extinguish the unpaid debt and that, whenever the amount of insurance benefit exceeds the unpaid debt, the excess is payable to the debtor, a beneficiary other than the creditor named by the debtor, or the debtor's estate;

(6) an explanation of how refunds are calculated in the event of policy termination; and

(7) if the benefit is not adequate to completely pay off the debt existing on the date of death, disability, or unemployment, a statement to that effect on the face of the individual policy or group certificate in not smaller than 10 point, bold face type.
Alaska Stat. § 21.36.450 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.450
Definition of insurer for AS 21.36.430  21.36.440.
Status: in_force

In AS 21.36.430  21.36.440, insurer includes (1) an insurer, as defined in AS 21.97.900 ;

(2) a group health plan, as defined in 29 U.S.C. 1167(1) (Employee Retirement Income Security Act of 1974);

(3) a health maintenance organization, as defined in AS 21.86.900 ;

(4) a hospital service corporation or medical service corporation, as defined in AS 21.87.330 ;

(5) the Comprehensive Health Insurance Association, established in AS 21.55.010 ; and

(6) an entity offering a service benefit plan, as referred to in 42 U.S.C. 1396g-1.
Alaska Stat. § 21.84.650 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.650
Penalties.
Status: in_force

(a) A person who knowingly makes a false or fraudulent statement or representation in or with reference to an application for membership, or for the purpose of obtaining money from or a benefit in a society, is guilty of a misdemeanor and is punishable by a fine of not more than $2,500 and is liable for a civil penalty of three times the amount received by the violator as compensation or commission. A civil penalty may be sued for and recovered by the aggrieved person or society for the person's or society's own use and benefit.

(b) A person who makes a false sworn statement in a report or declaration required or authorized by this chapter or in a statement concerning the death or disability of an insured for the purpose of obtaining payment of a benefit named in the certificate and who does not believe the statement to be true is guilty of perjury and, upon conviction, is subject to the penalties prescribed by law for perjury under AS 11.56.200 .

(c) A person who solicits membership for, or in any manner assists in procuring membership in, a society not licensed to do business in this state is guilty of a violation and, upon conviction, is punishable by a fine of not less than $50 or more than $200.

(d) A person who knowingly engages in conduct that constitutes a violation of the provisions of this chapter for which a penalty is not otherwise prescribed is guilty of a misdemeanor and, upon conviction, is punishable by a fine of not more than $2,500.

(e) In this section, knowingly has the meaning given in AS 11.81.900 .
Alaska Stat. § 21.53.020 — AK Code / Title 21 / Chapter 21.53 / Section 21.53.020
Disclosure and performance standards.
Status: in_force

An insurer, hospital or medical service corporation, or fraternal benefit society that delivers or issues for delivery a long-term care insurance policy may not (1) cancel, fail to renew, or otherwise terminate the policy on the grounds of age or deterioration of the mental or physical health of the insured;

(2) include a provision requiring a new waiting period in the event existing coverage is converted to or replaced by a new or another form of health insurance within the same company, unless there is an increase in benefits voluntarily selected by the insured or group policyholder; or

(3) provide coverage only for skilled nursing care or provide significantly more coverage for skilled care in a facility than is provided for coverage for lower levels of care.
Alaska Stat. § 21.84.175 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.175
Reinsurance.
Status: in_force

(a) A domestic society may, by a reinsurance agreement, cede an individual risk or risks in whole or in part to an insurer, other than another fraternal benefit society, that has the power to make reinsurance and that is authorized to do business in this state or, if not authorized, that is approved by the director. However, a society may not reinsure substantially all of its insurance in force without the written permission of the director. A society may take credit for the reserves on the ceded risks to the extent reinsured, but a credit may not be allowed as an admitted asset or a deduction from liability to a ceding society for reinsurance made, ceded, renewed, or otherwise becoming effective after January 1, 1998, unless the reinsurance is payable by the assuming insurer on the basis of the liability of the ceding society under the contract or contracts reinsured without diminution because of the insolvency of the ceding society.

(b) Notwithstanding the limitation in (a) of this section, a society may reinsure the risks of another society in a consolidation or merger approved by the director under AS 21.84.185 .
Alaska Stat. § 21.42.365 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.365
Coverage for treatment of alcoholism or drug abuse.
Status: in_force

(a) Except for a fraternal benefit society, a health care insurer that offers, issues for delivery, delivers, or renews in this state a health care insurance plan providing coverage for five or more employees of an employer in the group market shall offer a covered employee or the employee's dependent coverage for the treatment of alcoholism or drug abuse.

(b) In this section, alcoholism or drug abuse means an illness characterized by (1) a physiological or psychological dependency, or both, on alcoholic beverages or controlled substances as defined in AS 11.71.900 ; or

(2) habitual lack of self-control in using alcoholic beverages or controlled substances to the extent that the person's health is substantially impaired or the person's social or economic function is substantially disrupted.
Alaska Stat. § 21.69.300 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.300
Bylaws of stock insurer.
Status: in_force

A bylaw adopted at a meeting of stockholders of a domestic insurer may not be modified or revoked except by the stockholders at a subsequent meeting unless the bylaw as adopted or amended by the stockholders grants authority to the board of directors to revoke or modify bylaw provisions; but the board of directors may not revoke or modify a bylaw relating to the qualifications, election, terms, or compensation of directors, or to the calling or notice of meetings of stockholders. A revocation or modification of bylaws made by the directors under this provision shall be presented at the next meeting of stockholders for the information of the stockholders.
Alaska Stat. § 21.86.078 — AK Code / Title 21 / Chapter 21.86 / Section 21.86.078
Choice of health care provider.
Status: in_force

(a) A health maintenance organization shall offer to every enrollee a point-of-service plan option that would allow a covered person to receive covered services from an out-of-network health care provider without obtaining a referral or prior authorization from the health maintenance organization. The point-of-service plan option may require that an enrollee pay a higher deductible or copayment and higher premium for the plan.

(b) A health maintenance organization shall provide each enrollee with an opportunity at the time of enrollment and during the annual open enrollment period to enroll in the point-of-service plan option. The health maintenance organization shall provide written notice of the point-of-service plan option to each enrollee and shall include in that notice a detailed explanation of the financial costs to be incurred by an enrollee who selects that option.
Alaska Stat. § 21.69.330 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.330
Corrupt practices.
Status: in_force

The director shall adopt regulations regarding the conduct of meetings of shareholders and members of an insurer and the purchase, sale, and bartering of votes and proxies.
Alaska Stat. § 21.09.290 — AK Code / Title 21 / Chapter 21.09 / Section 21.09.290
Risk retention groups.
Status: in_force

(a) A risk retention group formed in this state shall (1) comply with 15 U.S.C. 3901  3906 (Liability Risk Retention Act); and

(2) qualify for and hold in good standing a certificate of authority under AS 21.09.010  21.09.320, limited to liability insurance only.

(b) A risk retention group shall submit with its application for a certificate of authority (1) the identity of (A) the initial members of the risk retention group;

(B) all persons who organized the risk retention group;

(C) all persons who will provide administrative services to the risk retention group;

(D) all persons who will influence or control the activities of the risk retention group;

(2) the amount and nature of initial capitalization;

(3) a plan of operation or a feasibility study that includes the coverage, deductible, coverage limit, rate, and rating classification system for the type or class of liability insurance the group intends to offer; and

(4) the states in which the risk retention group intends to operate.

(c) At least 30 days before a domestic risk retention group implements a material change or revision to an approved plan of operation or feasibility study, the material change or revision shall be filed with the director. A material change or revision may not be implemented unless the domestic risk retention group receives the director's written approval. In this subsection, material change or revision includes an offering of an additional type or class of liability insurance.

(d) In this section, (1) liability means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injury to another person, damage to property, or other damage or loss to a person resulting from or arising out of a business, whether profit or nonprofit, trade, product, service, including a professional service, or an activity of a state or local government, or an agency or political subdivision of a state or local government; liability does not include personal risk liability or employer's liability with respect to its employees other than legal liability under 45 U.S.C. 51 (Federal Employers' Liability Act);

(2) personal risk liability means liability for damages because of injury to a person, damage to property, or other loss or damage resulting from a personal, familial, or household responsibility or activity and that is not a responsibility or activity described under (1) of this subsection.
Alaska Stat. § 21.42.705 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.705
Opt-out duties, guidelines, remedies.
Status: in_force

(a) As a participant in the Interstate Insurance Product Regulation Compact, it is the policy of the state to opt out, and the director shall opt out, of any Uniform Standard that provides a materially lower level of protection for or materially diminishes the rights of Alaska policyholders or policy applicants under Alaska law.

(b) If the director or a court of competent jurisdiction finds that the policy set out in (a) of this section has been violated, notice of the violation shall be given to the legislature, and reasonable and prompt measures shall be taken to opt out of the Uniform Standard that does not comply with the policy statement set out in (a) of this section to the extent that such action is permissible under the Interstate Insurance Product Regulation Compact.
Alaska Stat. § 21.42.345 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.345
Required provision for coverage of dependents.
Status: in_force

(a) A health care insurance plan providing coverage for a dependent of a covered individual shall, as to the dependent's coverage, also provide that the health care insurance benefits applicable for dependents shall be payable with respect to (1) a newly born child of a covered individual from the moment of birth;

(2) a child adopted by a covered individual from the date of adoption;

(3) a child placed with a covered individual for adoption from the date of placement for adoption; and

(4) a spouse from not later than the first day of the first month beginning after the date the request for enrollment is received, but the insurer may require that a request for enrollment be received within 31 days of the date of marriage.

(b) The coverage for a newly born child under this section shall consist of coverage of injury or sickness, including the necessary care and treatment of medically diagnosed congenital defects and birth abnormalities.

(c) If payment of a specific charge is required to provide coverage for a child under this section, the policy or contract may require that notification of birth of a newly born child, adopted child, or child placed for adoption and payment of the required premium or fees may be required to be furnished to the health care insurer within 31 days after the date of birth, adoption, or placement for adoption in order to have the coverage continue beyond the 31-day period.

(d) Under (a)  (c) of this section, a health care insurer shall offer coverage for a family member, including a newly born child, adopted child, or child placed for adoption, regardless of the marital status of the covered individual.
Alaska Stat. § 21.75.110 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.110
Action on bond.
Status: in_force

Action on the attorney-in-fact's bond or to recover against a deposit made in lieu of the bond may be brought at any time by one or more subscribers suffering loss through a violation of its conditions, or by a receiver or liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of the bond.
Alaska Stat. § 21.97.030 — AK Code / Title 21 / Chapter 21.97 / Section 21.97.030
Material incorporated by reference.
Status: in_force

The director may adopt a regulation that incorporates by reference the Financial Analysis Handbook published by the National Association of Insurance Commissioners. Under AS 44.62.245 (a)(2), in adopting or amending a regulation that incorporates the Financial Analysis Handbook published by the National Association of Insurance Commissioners, the director may incorporate future amended versions of the Financial Analysis Handbook published by the National Association of Insurance Commissioners.
Alaska Stat. § 21.27.360 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.360
Reporting and accounting for premiums and premium taxes and fees.
Status: reserved

(a) A licensee involved in the procuring or issuance of an insurance contract shall report to the insurer the exact amount of consideration charged as a premium for the contract. The amount charged shall be shown in the contract and in the records of the licensee.

(b) Except as provided under (h) of this section, all money, except that made payable to the insurer, representing premium taxes and fees, premiums, or return premiums received by the licensee shall be received by the licensee as a fiduciary and shall be promptly accounted for and paid to the person entitled to the money. Money held by the licensee as a fiduciary may not be commingled or otherwise combined with other money not held by the licensee as a fiduciary.

(c) In addition to any other penalty provided by law, a person who the director has determined has acted to divert or appropriate money held as a fiduciary for personal use shall be ordered to make restitution and shall be subject to suspension or revocation under AS 21.27.420  21.27.430 of all licenses and a civil penalty not to exceed $50,000 for each violation.

(d) A licensee may only commingle premium taxes and fees, premiums, and return premiums with additional money for the purpose of advancing premiums, establishing reserves for the payment of return premiums, or reserves for receiving and transmitting premium or return premium money.

(e) Money held by a licensee as a fiduciary may not be treated as a personal asset, as collateral for a personal or business loan, or as a personal asset or income on a financial statement, except that money held by the licensee as a fiduciary may be included in a financial statement of the licensee if clearly identified as assets held by the licensee as a fiduciary.

(f) This section does not apply to an individual licensee who has entered into an employment contract with a firm and who acts solely on behalf of a firm that maintains compliance with this section.

(g) [Repealed, § 223 ch 67 SLA 1992.] (h) A licensee who transacts the business of insurance under a motor vehicle rental agency limited producer license under AS 21.27.150 (a)(4) is not required to hold money collected from a person for the purchase of rental motor vehicle insurance coverage in a separate fiduciary account if (1) the fees for the rental insurance coverage are itemized and are a part of a rental motor vehicle transaction; and

(2) the insurer has given written consent that the money need not be segregated from other money received by the licensee and the consent is signed by an officer of the insurer.

(i) The director of insurance may adopt regulations to implement, define, and enforce this section.
Alaska Stat. § 21.27.830 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.830
Independent adjuster qualifications.
Status: in_force

In addition to the general qualifications under AS 21.27.020 , to qualify for issuance or renewal of an independent adjuster license, an applicant or licensee shall (1) have at least six months active working experience within the previous two calendar years as either an independent adjuster trainee, an insurance producer, a managing general agent, a reinsurance intermediary broker, a reinsurance intermediary manager, a surplus lines broker, an independent adjuster, or an underwriter or claims adjuster employee of an insurer, and, in the director's opinion, exhibit the ability to competently perform the responsibilities of an independent adjuster; or

(2) have been previously licensed in good standing in this state as an independent adjuster within the previous four calendar years and not have had a license suspended or revoked.
Alaska Stat. § 21.75.260 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.260
Merger or conversion.
Status: in_force

(a) A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds of its subscribers who vote on the merger after due notice and the approval of the director of the terms therefor, may merge with another reciprocal insurer or be converted to a stock or mutual insurer.

(b) The stock or mutual insurer is subject to the same capital or surplus requirements and has the same rights as a like domestic insurer transacting like kinds of insurance.

(c) The director may not approve a plan for a merger or conversion which is inequitable to subscribers, or which, if for conversion to a stock insurer, does not give each subscriber preferential right to acquire stock of the proposed insurer proportionate to the subscriber's interest in the reciprocal insurer as determined in accordance with AS 21.75.250 and a reasonable length of time within which to exercise the right.
Alaska Stat. § 21.78.280 — AK Code / Title 21 / Chapter 21.78 / Section 21.78.280
Special claims.
Status: in_force

(a) A contingent and unliquidated claim may not share in a distribution of the assets of an insurer that has been adjudicated to be insolvent by an order made under this chapter, except that the claim shall be considered, if properly presented, and may be allowed to share if (1) the claim becomes absolute against the insurer on or before the last day for filing claims against the assets of the insurer; or

(2) there is a surplus and the liquidation is, after that, conducted upon the basis that the insurer is solvent.

(b) The claim of a third party that is contingent only on the third party claimant first obtaining a judgment against the insured shall be considered and allowed as if there were not a contingency.

(c) A claim may be allowed even if contingent, if it is filed under AS 21.78.292 . It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.

(d) A claim that is due except for the passage of time shall be treated as an absolute claim is treated, except that the claim may be discounted at the legal rate of interest.

(e) A claim made under an employment contract by a director, principal officer, or person in fact performing similar functions or having similar powers, is limited to payment for services rendered before the issuance of an order of rehabilitation or liquidation under this chapter.
Alaska Stat. § 21.54.105 — AK Code / Title 21 / Chapter 21.54 / Section 21.54.105
Special enrollment requirements related to Medicaid and state child health plan coverage.
Status: in_force

A health care insurer that offers, issues, delivers, or renews a health care insurance plan in the group market shall allow an eligible employee or dependent of an employee to enroll for coverage under the terms of the plan if the employee or dependent (1) is covered by Medicaid under 42 U.S.C. 1396  1396u (Title XIX of the Social Security Act) or under a state child health plan under 42 U.S.C. 1397aa  1397mm (Title XXI of the Social Security Act), coverage is terminated because of loss of eligibility, and the employee requests coverage under the health care insurance plan not later than 60 days after the date of termination; or

(2) becomes eligible for assistance under Medicaid under 42 U.S.C. 1396  1396u (Title XIX of the Social Security Act) or under a state child health plan under 42 U.S.C. 1397aa  1397mm (Title XXI of the Social Security Act), with respect to coverage under a health care insurance plan, including under any waiver or demonstration project conducted under or in relation to the Medicaid or state child health plan, and the employee requests coverage under the health care insurance plan not later than 60 days after the date the employee or dependent is determined to be eligible for assistance.
Alaska Stat. § 21.45.140 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.140
Beneficiary, industrial policies.
Status: in_force

An industrial life insurance policy must have the name of the beneficiary designated on it with a reservation of the right to designate or change the beneficiary after the issuance of the policy. The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured. The policy may also provide that if the beneficiary designated in the policy does not make a claim under the policy or does not surrender the policy with due proof of death within the period stated in the policy, which may not be less than 30 days after the death of the insured, or if the beneficiary is the estate of the insured, or is a minor, or dies before the insured, or is not legally competent to give a valid release, the insurer may pay the proceeds to the executor or administrator of the insured, or to any relative of the insured by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled to the proceeds by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention, or burial of the insured. The policy may also include a similar provision applicable to other payments due under the policy.
Alaska Stat. § 21.12.030 — AK Code / Title 21 / Chapter 21.12 / Section 21.12.030
Definitions not mutually exclusive.
Status: in_force

It is intended that certain insurance coverages may come within the definitions of two or more kinds of insurance as defined in this chapter, and the inclusion of coverage within one definition does not exclude it from the definition of another kind of insurance coverage if the coverage may be reasonably included.
Alaska Stat. § 21.55.310 — AK Code / Title 21 / Chapter 21.55 / Section 21.55.310
Enrollment by an eligible person.
Status: in_force

A person may enroll in a state plan by applying to the plan administrator. The application must include the following: (1) name, address, age, and length of residency of the applicant;

(2) a designation of the plan desired, including deductible option chosen;

(3) information relevant to whether the person is a high risk or a federally defined eligible individual; and

(4) payment of the first premium.
Alaska Stat. § 21.36.465 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.465
Notice of limited motor vehicle insurance.
Status: in_force

(a) An insurance policy that provides coverage only against property damage to a motor vehicle and that does not provide liability coverage required under AS 28.22.101 (d) must contain the following statement printed in bold face type: This policy provides insurance only against damage to the motor vehicle. This policy does not insure against bodily injury, death, or property damage liability and does not satisfy the mandatory motor vehicle liability insurance requirements of AS 28.22.011 .

(b) If the insured under a policy described in (a) of this section is not the owner of the motor vehicle, the insurer shall provide a copy of the policy to the owner.
Alaska Stat. § 21.39.010 — AK Code / Title 21 / Chapter 21.39 / Section 21.39.010
Purpose.
Status: in_force

The purpose of this chapter is to promote the public welfare by regulating insurance rates in order that they will not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this chapter. Nothing in this chapter is intended (1) to prohibit or discourage reasonable competition, or (2) to prohibit or encourage, except to the extent necessary to accomplish the purpose of this chapter, uniformity in insurance rates, rating systems, rating plans or practices. This chapter shall be liberally interpreted to carry into effect the intent of this section.
Alaska Stat. § 21.18.040 — AK Code / Title 21 / Chapter 21.18 / Section 21.18.040
Disallowance of transactions; deceptions.
Status: in_force

(a) The director shall disallow as an asset or as a credit against liabilities any reinsurance found by the director, after a hearing, to have been arranged for the purpose principally of deception as to the ceding insurer's financial condition as of the date of any financial statement of the insurer. Without limiting the general purport of this subsection, reinsurance of a substantial part of the insurer's outstanding risks contracted for in fact within four months before the date of any financial statement and cancelled in fact within four months after the date of the statement, or reinsurance under which the reinsurer bears no substantial insurance risk or substantial risk of net loss to itself, shall prima facie be considered to have been arranged for the purpose principally of deception within the intent of this subsection.

(b) The director shall disallow as an asset a deposit, fund, or other asset of the insurer determined after a hearing to be (1) not in good faith the property of the insurer;

(2) not freely subject to withdrawal or liquidation by the insurer at any time for the payment or discharge of claims or other obligations arising under its policies;

(3) the result of arrangements made principally for the purpose of deception as to the insurer's financial condition as of the date of any financial statement of the insurer.

(c) A disallowance of assets or credits is not valid unless made by the director after a hearing of which notice was given the insurer within six months after the date the financial statement of the insurer in which the deception is claimed was filed with the director.

(d) The director may suspend or revoke the certificate of authority of an insurer that has knowingly been a party to a deception or an attempted deception.
Alaska Stat. § 21.40.050 — AK Code / Title 21 / Chapter 21.40 / Section 21.40.050
Arbitrage transactions exempted.
Status: in_force

AS 21.40.010  21.40.030 do not apply to foreign or domestic arbitrage transactions unless made in contravention of regulations adopted by the department in carrying out the purposes of this chapter.
Alaska Stat. § 21.55.420 — AK Code / Title 21 / Chapter 21.55 / Section 21.55.420
Board member civil and criminal immunity.
Status: in_force

A member of the board of directors of the association may not be held civilly or criminally liable for an act or omission if the act or omission was in good faith and within the scope of the director's duties under this chapter.
Alaska Stat. § 21.27.080 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.080
Examinations.
Status: in_force

(a) The answers of the applicant to an examination shall be written by the applicant under the director's supervision, and the written examination may be supplemented by oral examination at the director's discretion.

(b) The director shall give examinations at the times and places that the director considers necessary to reasonably serve the convenience of the director, applicants, and licensees.

(c) The director may require a waiting period of reasonable duration before giving a new examination to an applicant who has failed to pass a previous similar examination.

(d) The director may make arrangements, including contracting with an outside testing service, for administering examinations and collecting a nonrefundable fee.
Alaska Stat. § 21.66.380 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.380
Justification for rates.
Status: in_force

(a) A rate filing shall be accompanied by a statement of the title insurance company making the filing, setting out the basis on which the rate was determined, with the rates computed. A filing of rates may be justified by (1) the experience or judgment of the title insurance company making the filing;

(2) its interpretation of any statistical data relied upon;

(3) the experience of other title insurance companies making the filings; or

(4) any other factors that the title insurance company considers relevant.

(b) The statement and justification provided for in this section shall be open to public inspection; however, information that can be used to identify the experience of a particular title insurance limited producer is confidential.
Alaska Stat. § 21.36.190 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.190
Fictitious groups.
Status: in_force

(a) An insurer, whether an authorized or unauthorized insurer, may not make available through a rating plan or form, property, casualty, or surety insurance to a firm, corporation, or association of individuals, a preferred rate or premium based upon a fictitious group of the firm, corporation, or association of individuals.

(b) A form or plan of insurance covering a group or combination of persons or risks may not be written or delivered inside or outside this state to cover persons or risks in this state at a preferred rate or on a form other than that offered to persons not in the group or combination and to the public generally, unless the form, plan of insurance, and the rates or premiums to be charged have been submitted to and approved by the director as being not unfairly discriminatory and not otherwise in conflict with (a) of this section or with AS 21.39 to the extent that AS 21.39 is, by its terms, applicable to it.

(c) This section does not apply to mortgage guaranty insurance, life insurance, health insurance, or annuity contracts.

(d) This section does not apply to workers' compensation insurance when issued to an association of employers formed for purposes other than the purchase of insurance and that (1) has a constitution and bylaws;

(2) incorporates a safety program;

(3) as a group has preferred characteristics over similar risks written on an individual basis; and

(4) has filed and received approval from the director for the rating program to be applied to the group.

(e) This section does not apply to insurance coverage under a joint insurance arrangement authorized by AS 21.76 .

(f) Except as provided in AS 21.36.475 , an insurer, whether authorized or unauthorized, may not underwrite an owner controlled insurance program or contractor controlled insurance program. In this subsection, owner controlled insurance program and contractor controlled insurance program have the meanings given in AS 21.36.475 .
Alaska Stat. § 21.36.410 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.410
Out-of-state investigations.
Status: in_force

(a) If material the director seeks to obtain is located outside the state, the material may be made available to the director to examine at the place where the material is located. The director may designate representatives, including officials of the state in which the material is located, to inspect the material on behalf of the director.

(b) The director may respond to a request from an official of another state under procedures established in (a) of this section.
Alaska Stat. § 21.51.310 — AK Code / Title 21 / Chapter 21.51 / Section 21.51.310
Conforming to statute.
Status: in_force

(a) A policy provision that is not subject to this chapter may not make a policy, or any portion of a policy, less favorable to the insured or the beneficiary than the provisions of the policy that are subject to this chapter.

(b) A policy delivered or issued for delivery to a person in this state in violation of this chapter shall be held valid but shall be construed as provided in this chapter. When a provision in a policy subject to this chapter is in conflict with a provision of this chapter, the rights, duties, and obligations of the insurer, the insured and the beneficiary shall be governed by the provisions of this chapter.
Alaska Stat. § 21.59.200 — AK Code / Title 21 / Chapter 21.59 / Section 21.59.200
Examination, investigations, enforcement, and penalties.
Status: in_force

(a) The director may conduct investigations or examinations of a provider, administrator, insurer, or other person to enforce the provisions of AS 21.59.110  21.59.290 and to protect service contract holders in this state in accordance with AS 21.06 .

(b) The director may take necessary or appropriate action to enforce this title, to the extent applicable, and protect service contract holders in this state, including the issuance of a cease and desist order, if the director determines that a person has violated a provision of this title, to the extent applicable to the person. A person aggrieved by the cease and desist order may request a hearing under AS 21.06.170  21.06.240.

(c) Without prior hearing, the director may order summary suspension of the license of a provider if the director finds that protection of the public requires emergency action and incorporates this finding in an order. The suspension is effective on the date specified in the order or upon mailing by first class mail to the provider's business address on record with the division, whichever is later. If the provider requests a hearing, the director shall conduct a hearing on the suspension within a reasonable time but not later than 20 days after the effective date of the summary suspension unless the person whose license is suspended requests a later date. At the hearing, the director shall determine whether the suspension should be continued or withdrawn, and, if proper notice is given, may determine whether the license should be revoked. The director shall issue a decision within 30 days after the conclusion of the hearing. A suspension or revocation under this section must be based on one or more grounds in AS 21.27.410 or a finding that one or more of the circumstances in (d) of this section continue to exist. The summary suspension continues until the decision is issued. AS 21.06.190 and AS 44.64.030 do not apply to this subsection.

(d) The director shall order summary suspension of the license of a provider if one or more of the following circumstances exist: (1) the provider is insolvent or impaired;

(2) a proceeding for bankruptcy, receivership, conservatorship, or rehabilitation, or another delinquency proceeding regarding the provider has been commenced in any state or by a governmental agency of another jurisdiction;

(3) the provider is in an unsound condition, or is in a condition or using methods or practices that render its further sale of service contracts in the state injurious to service contract holders or the public.

(e) A person found to have violated AS 21.59.110  21.59.290 may be assessed a civil penalty in an amount determined by the director not to exceed $2,500 for each violation or, if the director determines that the person knowingly violated the provisions of AS 21.59.110  21.59.290, $5,000 for each violation. Penalties for violations may not exceed $50,000 in the aggregate for violations of a similar nature, except where the person knowingly violated the provisions of AS 21.59.110  21.59.290. In this subsection, (1) knowingly has the meaning given in AS 11.81.900 ;

(2) violation of a similar nature means a violation consisting of the same or a similar course of conduct, action, or practice as another violation, notwithstanding the number of times the act, conduct, or practice occurred.

(f) A service contract holder may bring an action in a court of competent jurisdiction for damages, injunctive relief, restitution, or other appropriate relief for a threatened or existing violation relating to the motor vehicle service contract.

(g) The director may adopt regulations necessary for the implementation and enforcement of AS 21.59.110  21.59.290.
Alaska Stat. § 21.36.480 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.480
Genetic information nondiscrimination.
Status: in_force

(a) A health care insurer that offers a health care insurance plan in the individual market shall comply with the genetic information nondiscrimination requirements established under 42 U.S.C. 300gg-53.

(b) A health care insurer that offers a health care insurance plan in the group market shall comply with the genetic information nondiscrimination requirements established under 42 U.S.C. 300gg-1(b)(3), 42 U.S.C. 300gg-1(c)  (f), and 42 U.S.C. 300gg-91.

(c) In this section, (1) group market has the meaning given in AS 21.54.500 ;

(2) health care insurance plan has the meaning given in AS 21.54.500 ;

(3) health care insurer has the meaning given in AS 21.54.500 ;

(4) individual market has the meaning given in AS 21.51.500 .
Alaska Stat. § 21.27.115 — AK Code / Title 21 / Chapter 21.27 / Section 21.27.115
Lines of authority.
Status: reserved

If a person has met the applicable requirements of AS 21.27.020 and 21.27.270, the director shall issue a license for one or more of the following lines of authority: (1) life insurance coverage on natural persons; in this paragraph, life insurance coverage (A) includes benefits of endowment and annuities; and

(B) may include benefits in the event of death or dismemberment by accident and benefits for disability income;

(2) health insurance coverage for sickness, bodily injury, or accidental death; in this paragraph, health insurance coverage may include benefits for disability income;

(3) property insurance coverage for the direct or consequential loss for damage to property of every kind;

(4) casualty insurance coverage against legal liability, including that for death, injury, or disability or damage to real or personal property; in this paragraph, casualty insurance includes surety insurance as defined in AS 21.12.080 ;

(5) variable life and variable annuity products insurance coverage;

(6) personal lines property and casualty insurance coverage sold to individuals and families for primarily noncommercial purposes;

(7) limited lines credit insurance;

(8) [Repealed, § 66 ch 41 SLA 2016.] (9) [Repealed, § 66 ch 41 SLA 2016.] (10) any insurance for which a limited lines license may be issued under AS 21.27.150 .
Alaska Stat. § 21.84.265 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.265
Nonforfeiture benefits, cash surrender values, certificate loans, and other options.
Status: in_force

(a) For certificates issued before one year after the January 1, 1998, the value of a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted shall comply with the provisions of law applicable on December 31, 1997.

(b) For certificates issued on or after January 1, 1999 for which reserves are computed on the Commissioner's 1941 Standard Ordinary Mortality Table, the Commissioner's 1941 Standard Industrial Table, the Commissioner's 1958 Standard Ordinary Mortality Table, the Commissioner's 1980 Standard Mortality Table, or a more recent table made applicable to life insurers, a paid-up nonforfeiture benefit and the amount of a cash surrender value, loan, or other option granted may not be less than the corresponding amount based on the interest rate and mortality tables authorized by the laws of this state for the calculation of those benefits by life and health insurers issuing policies containing similar benefits based upon these tables.
Alaska Stat. § 21.07.020 — AK Code / Title 21 / Chapter 21.07 / Section 21.07.020
Required contract provisions for health care insurance policy.
Status: in_force

A health care insurance policy must contain a provision (1) that preauthorization for a covered medical procedure on the basis of medical necessity may not be retroactively denied unless the preauthorization is based on materially incomplete or inaccurate information provided by or on behalf of the provider;

(2) for emergency services that meet the requirements under 42 U.S.C. 300gg-19a(b) if any coverage is provided for treatment of an emergency medical condition;

(3) that covered medical care services be reasonably available in the community in which a covered person resides or that, if referrals are required by the policy, adequate referrals outside the community be available if the medical care service is not available in the community;

(4) that discloses covered benefits, optional supplemental benefits, and benefits relating to and restrictions on nonparticipating provider services;

(5) describing a mechanism for assignment of benefits for health care providers and payment of benefits;

(6) describing the availability of prescription medications or a formulary guide, and whether medications not listed are excluded; if a formulary guide is made available, the guide must be updated annually; and

(7) describing available translation or interpreter services, including audiotape or braille information.
Alaska Stat. § 21.51.130 — AK Code / Title 21 / Chapter 21.51 / Section 21.51.130
Physical examination, autopsy.
Status: in_force

There shall be a provision as follows:

Physical Examinations and Autopsy: The insurer at its own expense shall have the right and opportunity to examine the person of the insured when and as often as it may reasonably require during the pendency of a claim hereunder and to make an autopsy in case of death where it is not forbidden by law.
Alaska Stat. § 21.61.106 — AK Code / Title 21 / Chapter 21.61 / Section 21.61.106
Other provisions applicable.
Status: in_force

(a) In addition to the provisions of this chapter, the following provisions of this title apply to air ambulance service providers and air ambulance membership agreements to the extent applicable and not in conflict with the express provisions of this chapter and the reasonable implications of the express provisions: (1) AS 21.36 ;

(2) AS 21.42 .

(b) When applying the provisions listed in (a) of this section, the director shall treat an air ambulance service provider as an insurer and an air ambulance membership agreement as an excepted benefits insurance policy under AS 21.54.160 .

(c) Except as provided in this section, an air ambulance service provider or an air ambulance membership agreement that complies with this chapter is not otherwise subject to this title.
Alaska Stat. § 21.87.340 — AK Code / Title 21 / Chapter 21.87 / Section 21.87.340
Other provisions applicable.
Status: in_force

In addition to the provisions contained or referred to previously in this chapter, the following chapters and provisions of this title also apply with respect to service corporations to the extent applicable and not in conflict with the express provisions of this chapter and the reasonable implications of the express provisions, and, for the purposes of the application, the corporations shall be considered to be mutual insurers: (1) AS 21.03 ;

(2) AS 21.06 ;

(3) AS 21.07 ;

(4) AS 21.09 , except AS 21.09.090 ;

(5) AS 21.18.010 ;

(6) AS 21.18.030 ;

(7) AS 21.18.040 ;

(8) AS 21.18.080  21.18.086;

(9) AS 21.36 ;

(10) AS 21.42.110 , 21.42.345  21.42.395;

(11) AS 21.51.120 and 21.51.400;

(12) AS 21.51.405 ;

(13) AS 21.53 ;

(14) AS 21.54 ;

(15) AS 21.56 ;

(16) AS 21.69.400 ;

(17) AS 21.69.520 ;

(18) AS 21.69.600 , 21.69.620, and 21.69.630;

(19) AS 21.78 ;

(20) AS 21.79 ;

(21) AS 21.96.060 ;

(22) AS 21.97 .
Alaska Stat. § 21.69.580 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.580
Converting mutual insurer.
Status: in_force

A mutual insurer may not be converted to a stock insurer.
Alaska Stat. § 21.59.090 — AK Code / Title 21 / Chapter 21.59 / Section 21.59.090
Definitions.
Status: in_force

In AS 21.59.010  21.59.090, (1) automobile service corporation means a corporation providing all or part of one or more automobile service corporation services for subscribers in exchange for periodic prepayment in identifiable amount by or as to the subscribers;

(2) automobile service corporation services means any professional service, technical service, replacement of goods that the corporation may become obligated to provide upon a contingent event or a certain event that may occur at an uncertain time and for which a specified single or periodic prepayment is charged or collected, including (A) emergency road service; (B) reimbursement of legal fees for representation on traffic offenses; and (C) providing bail bonds for traffic offenses; an automobile service corporation may provide other services or benefits that do not fall within the definition of automobile service corporation services;

(3) subscriber's contract means the contract between the automobile service corporation and its subscriber under which all or a part of one or more services is to be rendered to or on behalf of the subscriber by an automobile service corporation or by a provider that has entered into a service agreement with the automobile service corporation.

Article 2. Motor Vehicle Service Contracts.
Alaska Stat. § 21.75.190 — AK Code / Title 21 / Chapter 21.75 / Section 21.75.190
Subscribers' liability on judgment.
Status: in_force

(a) An action may not lie against a subscriber upon an obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for 30 days.

(b) The judgment shall be binding upon each subscriber only in the proportion which the subscriber's interest may appear and in an amount not exceeding the contingent liability of the subscriber, if any.
Alaska Stat. § 21.14.110 — AK Code / Title 21 / Chapter 21.14 / Section 21.14.110
Exemptions.
Status: in_force

(a) The director may exempt from the application of this chapter a domestic property and casualty insurer that (1) writes direct business only in this state;

(2) writes direct annual premiums of $2,000,000 or less; and

(3) does not assume reinsurance in excess of five percent of direct premiums written.

(b) The director may exempt from the application of this chapter a domestic health organization that (1) writes direct business only in this state;

(2) does not assume reinsurance in excess of five percent of direct premiums written and (A) writes direct annual premiums for comprehensive medical care of $2,000,000 or less; or

(B) is a limited health service organization that covers less than 2,000 lives.
Alaska Stat. § 21.66.180 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.180
General powers.
Status: in_force

A title insurance company may (1) do business as defined in AS 21.66.480 ;

(2) do any act, directly or through a title insurance limited producer, incidental to making a contract or policy of title insurance, including conducting or holding an escrow, settlement, or closing of a transaction; and

(3) provide other services relative or incidental to the sale and transfer of real or personal property.
Alaska Stat. § 21.55.330 — AK Code / Title 21 / Chapter 21.55 / Section 21.55.330
Effective date of policies.
Status: in_force

(a) Except as provided in (b) of this section and AS 21.55.130 (c), insurance under a state plan is effective immediately upon receipt of the first premium, and is retroactive to the date of the application, if the applicant otherwise complies with the requirements of this chapter.

(b) Insurance under a state plan is effective retroactively to the date that the person's previous contract or policy terminated if the person (1) applies for a state plan within 60 days after the previous contract or policy terminated;

(2) is accepted by the plan administrator; and

(3) pays a specified premium for the period of retroactive coverage.
Alaska Stat. § 21.21.010 — AK Code / Title 21 / Chapter 21.21 / Section 21.21.010
Scope.
Status: in_force

This chapter applies only to an investment and investment practice of a domestic insurer and a United States branch of an alien insurer entered through this state. This chapter does not apply to separate accounts of a life insurer.
Alaska Stat. § 21.69.110 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.110
Permit as inducement prohibited.
Status: in_force

The granting of a solicitation permit is permissive only and does not constitute an endorsement by the director of any person or thing related to the proposed insurer, corporation, or syndicate and the existence of the permit may not be advertised or used as an inducement in a solicitation. The substance of this section in bold faced type not less than 10 point shall be printed at the top of each solicitation permit.
Alaska Stat. § 21.12.110 — AK Code / Title 21 / Chapter 21.12 / Section 21.12.110
Mortgage guaranty insurance defined.
Status: in_force

Mortgage guaranty insurance includes insurance against financial loss by reason of nonpayment of principal, interest, and other sums agreed to be paid under the terms of any note or bond or other evidence of indebtedness secured by a mortgage, deed of trust, or other instrument consisting of a lien or charge on real estate.
Alaska Stat. § 21.51.080 — AK Code / Title 21 / Chapter 21.51 / Section 21.51.080
Notice of claim.
Status: in_force

(a) There shall be a provision as follows:

Notice of Claim: Written notice of claim must be given to the insurer within 20 days after the occurrence or commencement of a loss covered by the policy, or as soon thereafter as is reasonably possible. Notice given by or on behalf of the insured or the beneficiary to the insurer at (insert the location of the office which the insurer designates for the purpose), or to an authorized agent of the insurer, with information sufficient to identify the insured, shall be considered notice to the insurer.

(b) In a policy providing a loss-of-time benefit which may be payable for at least two years, an insurer may at its option insert the following between the first and second sentences of the provision in (a) of this section:

Subject to the qualifications set out below, if the insured suffers loss of time on account of disability for which indemnity may be payable for at least two years, the insured shall, at least once in every six months after having given notice of the claim, give to the insurer notice of continuance of the disability, except in the event of legal incapacity. The period of six months following a filing of proof by the insured or a payment by the insurer on account of the claim or a denial of liability in whole or in part by the insurer shall be excluded in applying this provision. Delay in the giving of notice shall not impair the insured's right to indemnity which would otherwise have accrued during the period of six months preceding the date on which the notice is actually given.
Alaska Stat. § 21.84.201 — AK Code / Title 21 / Chapter 21.84 / Section 21.84.201
Benefits.
Status: in_force

(a) A society may provide the following contractual benefits in any form: (1) death benefits;

(2) endowment benefits;

(3) annuity benefits;

(4) temporary or permanent health care benefits;

(5) hospital, medical, or nursing benefits;

(6) monument or tombstone benefits to the memory of deceased members; and

(7) other benefits authorized for life and health insurers that are not inconsistent with this chapter.

(b) A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits described in (a) of this section consistent with providing benefits to members and the members' dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult person.
Alaska Stat. § 21.33.042 — AK Code / Title 21 / Chapter 21.33 / Section 21.33.042
Suits by nonadmitted insurers.
Status: in_force

A nonadmitted insurer may not commence or maintain an action in law or equity in this state to enforce a right arising out of a transaction of insurance in this state except with respect to (1) claims under policies lawfully written in this state;

(2) liquidation of assets and liabilities, other than the collection of new premiums, resulting from its former admitted operations in this state;

(3) transactions subsequent to issuance of a policy not covering a subject resident, located, or to be performed in this state at time of issuance and lawfully solicited, written, or delivered outside this state;

(4) surplus lines insurance coverage exported under AS 21.34 ;

(5) reinsurance;

(6) the continuation and servicing of life insurance, health insurance policies, or annuity contracts remaining in force as to residents of this state where the insurer has withdrawn from the state and is not transacting new insurance;

(7) servicing of policies written by an admitted insurer in a state to which the insured has moved but in which the insured is not licensed, until the term of the policy expires;

(8) claims under policies covering wet marine and transportation insurance, including vessels of 50 displacement tons or less.
Alaska Stat. § 21.36.325 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.325
Definitions for AS 21.36.317  21.36.325.
Status: in_force

In AS 21.36.317  21.36.325, unless the context otherwise requires, (1) consumer means a person who obtains, applies to obtain, or is solicited to obtain insurance from or on behalf of a financial institution;

(2) financial institution means a bank holding company under 12 U.S.C. 1841 (Bank Holding Company Act of 1956); a credit union under 12 U.S.C. 1752 (Federal Credit Union Act); a bank, savings bank, savings and loan association, or trust company, or any depository institution under 12 U.S.C. 1813(c)(1); and any other person authorized to take federally insured deposits and make loans in the state; financial institution includes any employee or agent of a financial institution and any nondepository affiliate or subsidiary of a financial institution but only in the instances when the nondepository affiliate or subsidiary is soliciting the sale or purchase of insurance recommended or sponsored by, on the premises of, or in connection with a product offering of the financial institution; financial institution does not include an insurer.
Alaska Stat. § 21.14.120 — AK Code / Title 21 / Chapter 21.14 / Section 21.14.120
Notices.
Status: in_force

All notices by the director to an insurer that may result in regulatory action under this chapter are effective upon mailing if mailed by registered or certified mail or, in the case of any other transmission, upon the director's transmission of the notice.
Alaska Stat. § 21.66.400 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.400
Disapproval of filings.
Status: in_force

(a) If within the waiting period provided for in AS 21.66.370 (c) the director finds that a filing does not meet the requirements of this chapter, the director shall send to the title insurance company that made the filing written notice of disapproval of the filing specifying in what respects the director finds the filing fails to meet the requirements of this chapter and stating that the filing may not become effective.

(b) If at any time after the applicable review period provided for in AS 21.66.370 (c) the director finds that a filing does not meet the requirements of this chapter, the director shall, before issuing an order of disapproval, hold a hearing upon not less than 10 days written notice, specifying in reasonable detail the matters to be considered at the hearing. Notice of hearing shall be given to each title insurance company that made the filing, and if, after the hearing, the director finds that the filing or a part of the filing does not meet the requirements of this chapter, the director shall issue an order specifying how it is deficient, and when, within a reasonable period thereafter, the filing or a part of it is considered no longer effective. A title insurance company has the right to withdraw a filing or a part of a filing. Copies of the order issued under this section shall be sent to every title insurance company affected. The order does not affect a contract or policy made or issued before the expiration of the period set out in the order.

(c) A person or organization aggrieved with respect to a filing that is in effect may make a written application to the director for a hearing on the filing. The title insurance company that made the filing may not proceed under this subsection. The application shall specify in reasonable detail the grounds to be relied on by the applicant. If the director finds that the application is made in good faith, that the applicant would be aggrieved if the applicant's grounds are established, and that the applicant's grounds otherwise justify holding a hearing, the director shall, within 60 days after receipt of the application, hold a hearing upon not less than 10 days written notice to the applicant and to each title insurance company that made such a filing. If, after the hearing, the director finds that the filing or a part of it does not meet the requirements of this chapter, the director shall issue an order specifying how the filing or a part of it fails to meet the requirements of this chapter, stating when, within a reasonable period after the order is issued, the filing or a part of it is considered no longer effective. Copies of the order shall be sent to the applicant and to every affected title insurance company. The order does not affect a contract or policy made or issued before the expiration of the period set out in the order.

(d) A title insurance company to which the director has issued an order made without a hearing may, within 30 days after notice to it of the order, make a written request to the director for a hearing. The director shall hear the party or parties within 60 days after receipt of the request and shall give not less than 10 days written notice of the time and place of the hearing. Within 15 days after the hearing the director shall affirm, reverse, or modify the previous action, specifying the reasons. Pending the hearing and decision the director may suspend or postpone the effective date of the previous action.

(e) A hearing under this section is not required to observe formal rules of pleading or evidence.

(f) A filing or modification of a filing may not be disapproved if the rates in connection with the filing meet the requirements of this chapter.
Alaska Stat. § 21.36.125 — AK Code / Title 21 / Chapter 21.36 / Section 21.36.125
Unfair claim settlement practices.
Status: in_force

(a) A person may not commit any of the following acts or practices: (1) misrepresent facts or policy provisions relating to coverage of an insurance policy;

(2) fail to acknowledge and act promptly upon communications regarding a claim arising under an insurance policy;

(3) fail to adopt and implement reasonable standards for prompt investigation of claims;

(4) refuse to pay a claim without a reasonable investigation of all of the available information and an explanation of the basis for denial of the claim or for an offer of compromise settlement;

(5) fail to affirm or deny coverage of claims within a reasonable time of the completion of proof-of-loss statements;

(6) fail to attempt in good faith to make prompt and equitable settlement of claims in which liability is reasonably clear;

(7) engage in a pattern or practice of compelling insureds to litigate for recovery of amounts due under insurance policies by offering substantially less than the amounts ultimately recovered in actions brought by those insureds;

(8) compel an insured or third-party claimant in a case in which liability is clear to litigate for recovery of an amount due under an insurance policy by offering an amount that does not have an objectively reasonable basis in law and fact and that has not been documented in the insurer's file;

(9) attempt to make an unreasonably low settlement by reference to printed advertising matter accompanying or included in an application;

(10) attempt to settle a claim on the basis of an application that has been altered without the consent of the insured;

(11) make a claims payment without including a statement of the coverage under which the payment is made;

(12) make known to an insured or third-party claimant a policy of appealing from an arbitration award in favor of an insured or third-party claimant for the purpose of compelling the insured or third-party claimant to accept a settlement or compromise less than the amount awarded in arbitration;

(13) delay investigation or payment of claims by requiring submission of unnecessary or substantially repetitive claims reports and proof-of-loss forms;

(14) fail to promptly settle claims under one portion of a policy for the purpose of influencing settlements under other portions of the policy;

(15) fail to promptly provide a reasonable explanation of the basis in the insurance policy in relation to the facts or applicable law for denial of a claim or for the offer of a compromise settlement; or

(16) offer a form of settlement or pay a judgment in any manner prohibited by AS 21.96.030 ;

(17) violate a provision contained in AS 21.07 .

(b) The provisions of this section do not create or imply a private cause of action for a violation of this section.

(c) The director of insurance shall adopt regulations to implement, define, and enforce this section.
Alaska Stat. § 21.45.240 — AK Code / Title 21 / Chapter 21.45 / Section 21.45.240
Standard provisions: reversionary annuities.
Status: in_force

(a) Except as stated herein, a contract for a reversionary annuity may not be delivered or issued for delivery in this state unless it contains in substance each of the following provisions: (1) those provisions specified in AS 21.45.180  21.45.220, except that under AS 21.45.180 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of the payments from an amount payable upon settlement under the contract;

(2) a provision that the contract may be reinstated at any time within three years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract be paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding six percent a year compounded annually.

(b) This section does not apply to group annuities or to annuities included in life insurance policies, and any of the provisions not applicable to single premium annuities shall not to that extent be incorporated into the policy or contract.
Alaska Stat. § 21.76.040 — AK Code / Title 21 / Chapter 21.76 / Section 21.76.040
Financial provisions of agreements.
Status: in_force

(a) A cooperative agreement must include a provision requiring an annual determination by a casualty actuary who is a member of the American Academy of Actuaries that procedures for establishing reserves for losses of the joint insurance arrangement are actuarially sound.

(b) A joint insurance arrangement shall be subject to an annual independent audit. The audit shall be conducted in accordance with generally accepted auditing standards and must include a review of the actuarial assumptions used for establishing the reserves under (a) of this section. The audit report must include certification from a casualty actuary who is a member of the American Academy of Actuaries that the actuarial assumptions continue to be sound and the level of the reserves are adequate.
Alaska Stat. § 21.69.690 — AK Code / Title 21 / Chapter 21.69 / Section 21.69.690
Relocation of home office during national emergency.
Status: in_force

At any time the board of directors of a domestic insurer may, by resolution, provide that in the event of a national emergency the home office or principal place of business of the insurer shall be at the location named or described in the resolution. The resolution may provide for alternate locations and establish an order of preference.
Alaska Stat. § 21.24.050 — AK Code / Title 21 / Chapter 21.24 / Section 21.24.050
Record of deposits.
Status: in_force

(a) The director shall give to the depositing insurer vouchers of all assets and securities deposited by it in this state through the director as provided in this title.

(b) The director shall keep a record of the assets and securities comprising each deposit, showing as far as practical the amount and market value of each item, and all transactions regarding them.
Alaska Stat. § 21.66.350 — AK Code / Title 21 / Chapter 21.66 / Section 21.66.350
Division of rates.
Status: in_force

Nothing in this chapter prohibits the division of rates and charges between or among a title insurance company and its agent, two or more title insurance companies, one or more title insurance companies and one or more title insurance limited producers, or two or more title insurance limited producers if the division of rates and charges does not constitute an unlawful rebate and is not in payment of a forwarding fee or finder's fee.
Alaska Stat. § 21.42.075 — AK Code / Title 21 / Chapter 21.42 / Section 21.42.075
Reimbursement of losses.
Status: in_force

An insurer may make a filing for approval by the director that provides for reimbursement by an insured of losses paid by the insurer under a workers' compensation insurance policy. A form that alters the obligation of the insurer to an employee under AS 23.30.025 or 23.30.030 may not be approved by the director. Filing for approval under this section is not a deviation under AS 21.39.070 .
Alaska Stat. § 21.72.150 — AK Code / Title 21 / Chapter 21.72 / Section 21.72.150
Membership contract.
Status: in_force

(a) A membership contract is a certificate, policy, membership agreement, by whatever name called, or a promise or agreement, of a benevolent association with any or all of its members, whereby money or other benefit, charity, aid, or relief is to be paid, provided, or rendered by the association upon the decease of a member to the legal representatives of the member, or to the beneficiary or beneficiaries designated by the member.

(b) There shall be one contributing member for each membership contract, but a membership contract may cover more than one individual.