reglab/housing_qa huggingface dataset:
AK Stat § 21.33.042 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.042. Suits by nonadmitted insurers.

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health insurance policies, or annuity contracts remaining in force as to residents of this state where the insurer has withdrawn from the state and is not transacting new insurance; (7) servicing of policies written by an admitted insurer in a state to which the insured has moved but in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.
AK Stat § 21.33.045 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.045. Investigation and disclosure of insurance contracts.

(a) When the director has reason to believe that insurance has been effectuated by or for a person in this state with a nonadmitted insurer, the director shall in writing order the person to produce for examination all insurance contracts and other documents evidencing insurance with nonadmitted insurers and to disclose to the director the amount of insurance, name and address of each insurer, gross amount of premium paid or to be paid, the name and address of the person or persons assisting or aiding in the solicitation, negotiation, or effectuation of the insurance, and other information required by the director. (b) [Repealed, § 26 ch 117 SLA 1984.]  (c) In case of a failure of any person to comply with the director's order under (a) of this section, the superior court, on application of the director, may issue an order requiring the production of the records and information sought by the director. (d) [Repealed, § 60 ch 38 SLA 2002.]
AK Stat § 21.33.063 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.063. Agreements with other states.

The director is authorized to participate in an agreement with another state for the purposes of collecting and disbursing to the other state any premium tax collected under this chapter and payable to the other state and for receiving from the other state premium tax it has collected and is owed to this state. To the extent that another state where a portion of the properties, risks, or exposures reside has failed to enter into an agreement with this state, the director shall retain all of the net premium tax collected by this state.
AK Stat § 21.33.065 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.065. Penalties.

(a) A person other than an insured, who in this state represents or aids a nonadmitted insurer in violation of AS 21.33.037, is subject to a civil penalty of not more than $50,000 in addition to applicable criminal penalties and other penalties prescribed in this title. (b) In addition to any other penalty provided, a person who violates a provision of this chapter is subject to a civil penalty of not more than $10,000 for the first offense and not more than $100,000 for each succeeding violation. (c) [Repealed, § 223 ch 67 SLA 1992.]
AK Stat § 21.33.900 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.900. Records of insureds.

In order that the director may effectively administer this chapter, a person who has placed insurance with an unauthorized insurer shall, upon the director's order, produce for the examination of the director all policies and other documents evidencing the insurance and shall disclose to the director the amount of premiums paid or agreed to be paid for the insurance and other information required by the director. For each refusal to obey the order, in addition to any other penalties prescribed in this title, the person is subject to a civil penalty of not more than $25,000 following an appropriate hearing as provided in AS 21.06.170 - 21.06.230.
AK Stat § 21.33.910 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 33. Unauthorized Insurers|Sec. 21.33.910. Definitions.

In this chapter, (1) “export” means to place surplus lines insurance with a nonadmitted insurer; (2) “transaction of insurance” means the solicitation, negotiation, procurement, effectuation, or renewal of insurance; forwarding of applications; delivery of policies or contracts; inspection of risks; fixing of rates; investigation or adjustment of claims or losses; collection or forwarding of premiums; or transaction of matters subsequent to effectuation of the contract of insurance and arising out of it; (3) “unauthorized person” means a person not licensed as a surplus lines broker, or not a salaried employee of the insured; (4) “wet marine and transportation insurance” has the meaning given in AS 21.34.900.
AK Stat § 21.34.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.010. Purpose.

The legislature declares that insurance transactions with nonadmitted insurers are so affected with a public interest as to require regulation, taxation, supervision, and control of the transactions and matters relating to nonadmitted insurance. The purpose of this chapter includes (1) protection of persons seeking insurance in this state; (2) permission for surplus lines insurance to be placed with reputable and financially sound nonadmitted insurers and to be exported from this state under this chapter; (3) establishment of a system of regulation that will (A) permit orderly access to surplus lines insurance in this state; and (B) encourage admitted insurers to provide new and innovative types of insurance and make them available to consumers in this state; and (4) protection of the revenues of this state.
AK Stat § 21.34.020 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.020. Placement of surplus lines insurance.

(a) Insurance other than reinsurance, wet marine and transportation insurance, insurance independently procured, life insurance, health insurance except as provided in AS 21.34.035, and annuity contracts may be procured through a surplus lines broker licensed under AS 21.27 from nonadmitted insurers if (1) the insurer is an eligible surplus lines insurer; (2) the full amount, kind, or class of insurance cannot be obtained from insurers who are admitted to do business in this state; (3) the producing broker has conducted and documented a diligent search among insurers who are admitted to transact business in this state and are actually writing the particular kind or class of insurance required by the client in this state; (4) the director authorizes an exception to (2) of this section by regulation or by written authorization for an individual placement upon written request by the broker; and (5) all other requirements of this chapter are met. (b) If a policyholder meets the standards of an exempt commercial purchaser under this title and regulations adopted by the director, insurance may be procured from a surplus lines broker without complying with (a)(2), (3), and (4) of this section if (1) the broker procuring or placing the surplus lines insurance has disclosed to the exempt commercial purchaser that the insurance may or may not be available from the admitted market that may provide greater protection with more regulatory oversight; and (2) the exempt commercial purchaser has subsequently requested in writing that the broker procure or place the insurance from a nonadmitted insurer. (c) In this section, (1) “amount” means limit, sublimit, retention, and broadening or restrictive endorsement; (2) “class” means rating class; (3) “kind” means one or more kinds of insurance as defined in AS 21.12.
AK Stat § 21.34.025 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.025. Subscription policies or joint underwriting in combination with admitted insurers.

Subscription policies or joint underwriting of insurance other than reinsurance, wet marine and transportation insurance, insurance independently procured, life insurance, health insurance, and annuity contracts by a combination of authorized insurers and nonadmitted insurers is a surplus lines insurance placement in its entirety, is subject to this chapter, is not subject to AS 21.39, AS 21.42.120, or 21.42.130, and losses or claims are not covered by AS 21.80 (Alaska Insurance Guaranty Association Act).
AK Stat § 21.34.030 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.030. Workers' compensation insurance.

(a) Workers' compensation insurance may be placed in and written by a nonadmitted insurer if (1) the director considers it in the best interest of the public and issues an order to that effect; (2) the insurance is written in accordance with this chapter; and (3) all conditions established for writing workers' compensation insurance in a nonadmitted market receive compliance. (b) The rates and rating plans for workers' compensation insurance are subject to AS 21.39. The surplus lines broker is responsible for making the filings required under AS 21.39 and for maintaining the records required in that chapter. (c) Insurance placed or written in a nonadmitted insurer and the activities of the surplus lines broker relating to that transaction are subject to the applicable provision of this title. (d) The minimum capital and surplus required is two times that required in AS 21.34.040(c)(1).
AK Stat § 21.34.035 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.035. Health care insurance.

(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).
AK Stat § 21.34.050 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.050. Listing eligible surplus lines insurers.

(a) In addition to meeting the requirements of AS 21.34.040, a nonadmitted insurer shall be considered an eligible surplus lines insurer if it appears on the most recent list of eligible surplus lines insurers published by the director. The list is to be published at least semiannually by (1) posting the list on the division's Internet website; and (2) providing a copy of the list to a person on request to the division. (b) Nothing in this section requires the director to place or maintain the name of a nonadmitted insurer on the list of eligible surplus lines insurers. (c) A nonadmitted insurer shall be removed from the list of eligible surplus lines insurers if the nonadmitted insurer fails to meet the requirement under AS 21.34.040(d). However, the director may reinstate a nonadmitted insurer on the list of eligible surplus lines insurers if the nonadmitted insurer has remedied the reason for removal from the list.
AK Stat § 21.34.060 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.060. Other nonadmitted insurers.

Only that portion of a risk eligible for export for which the full amount of coverage is not procurable from eligible surplus lines insurers may be placed with another nonadmitted insurer that does not appear on the list of eligible surplus lines insurers published under AS 21.34.050 but nonetheless meets the requirements of AS 21.34.040 and a regulation adopted under this chapter. The surplus lines broker seeking to provide coverage through an unlisted nonadmitted insurer shall within 30 days after placing the coverage notify the director in writing on a form prescribed by the director the amount and percentage of each risk to be placed and naming each nonadmitted insurer with which placements are intended. Within 30 days after placing the coverage, the surplus lines broker shall also send written notice to the insured and the producing broker that the insurance, or a portion of it, has been placed with the unlisted nonadmitted insurer.
AK Stat § 21.34.070 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.070. Declaration of ineligibility.

(a) If after a review of a nonadmitted insurer and consideration of factors including quality of management, capital and surplus of a parent company, underwriting profit, investment income trends, trade practices, reserving practices, company record, and reputation within the industry, the director finds the insurer to be unacceptable, the director may declare the nonadmitted insurer to be ineligible. (b) The director may issue an order declaring a nonadmitted insurer ineligible if at any time the director has reason to believe that the nonadmitted insurer (1) is in unsound financial condition; (2) is no longer eligible under AS 21.34.040; (3) has wilfully violated the laws of this state or another state; or (4) does not reasonably investigate and make prompt payment of just losses and claims in this state or another state. (c) The director shall promptly mail notice of all declarations under (b) of this section to each licensed surplus lines broker.
AK Stat § 21.34.080 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.080. Transaction report; evidence of insurance.

(a) A surplus lines broker shall execute and file with the report required by AS 21.34.170 a written report, which shall be kept confidential, regarding each surplus lines insurance transaction occurring in the preceding period. The report must include (1) the name and address of the insured; (2) the identity of each insurer including the National Association of Insurance Commissioners company number and the percentage of coverage provided by each; (3) a complete description of the subject and location of the risk; (4) the amount of gross premium written for the insurance; and (5) other information required by the director. (b) Instead of the report required in (a) of this section, the director may order that evidence of insurance be filed with the surplus lines association and that the surplus lines association provide periodic reports regarding insurance transactions to the director. (c) [Repealed, § 53 ch 96 SLA 2004.]  (d) A transaction, as used in this section, is any placement of coverage as well as changes in coverage that result in an increase or decrease of premiums, taxes, or fees.
AK Stat § 21.34.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.090. Surplus lines association.

(a) A surplus lines association of surplus lines brokers may be formed to (1) facilitate and encourage compliance by its members with the laws of this state and the regulations relative to surplus lines insurance; (2) attend National Association of Insurance Commissioners meetings and participate in task forces and work groups; (3) communicate with organizations of admitted insurers with respect to the proper use of the surplus lines market; (4) receive and disseminate to its members information relative to surplus lines coverages; and (5) contract with the director to receive reports and affidavits under AS 21.34.080, verify that coverage has been placed with eligible surplus lines insurers, verify the amount of taxes under AS 21.34.180 and fees under AS 21.34.190 for surplus lines insurance for each surplus lines broker, and to prepare periodic reports as required by the director. (b) The surplus lines association shall file with the director (1) a copy of its constitution, its articles of agreement of association, or its certificate of incorporation; (2) a copy of its bylaws and regulations governing its activities; (3) a current list of its members; (4) the name of a resident of this state upon whom notices or orders of the director or processes issued at the director's instruction may be served; (5) an agreement that the director may examine the surplus lines association in accordance with this section; and (6) a schedule of its membership fees and assessments. (c) A surplus lines association is subject to the same penalties under this title as a surplus lines broker. (d) The director may, by order, require that all surplus lines brokers, as a condition of continued licensure under this chapter, join the surplus lines association. (e) The surplus lines association shall maintain its place of business in this state.
AK Stat § 21.34.100 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.100. Evidence of insurance.

(a) When surplus lines insurance is placed, the surplus lines broker shall promptly deliver to the named insured or the producing broker the policy or, if the policy is not then available, a cover note, binder, or other evidence of insurance. The cover note, binder, or other evidence of insurance for the named insured shall be executed by the surplus lines broker and must contain a summary of all material facts that would regularly be included in the policy, the description and location of the subject of insurance, a general description of the coverages of the insurance, the premium and rate charged and taxes to be collected from the insured, the name and address of the insured, the name of each surplus lines insurer and the percentage of the entire risk assumed by each, the name of the surplus lines broker, and the license number of the surplus lines broker. (b) A surplus lines broker may not issue or deliver evidence of insurance or purport to insure or represent that insurance will be or has been written by an eligible surplus lines insurer, or a nonadmitted insurer under AS 21.34.060, unless the surplus lines broker has authority from the insurer to cause the risk to be insured or has received information from the insurer in the regular course of business that the insurance has been granted. (c) If, after delivery of evidence of insurance, there is a change in the identity of the insurers or the percentage of the risk assumed by an insurer or another material change in coverage from that stated in the surplus lines broker's original evidence of insurance or in other material concerning the evidenced insurance, the surplus lines broker shall promptly issue and deliver to the insured or the producing broker an appropriate substitute for or endorsement of the original document, accurately showing the current status of the coverage and the insurer's responsibility. (d) A surplus lines broker who fails to comply with this section is subject to the penalties in AS 21.34.230. (e) Every evidence of insurance negotiated, placed, or procured under this chapter issued by a surplus lines broker must bear the name of the surplus lines broker, which may not be covered, concealed, or obscured by the producing broker, and the following legend in at least 10-point type: “This is evidence of insurance procured and developed under the Alaska Surplus Lines Law, AS 21.34. It is not covered by the Alaska Insurance Guaranty Association Act, AS 21.80.” (f) A producing broker or other licensee may issue to a person, other than the named insured, a certificate as evidence of insurance negotiated, placed, or procured under this chapter. The certificate must bear the name of the surplus lines broker, which may not be covered, concealed, or obscured by the producing broker, and the following legend in at least 10-point type: “This is evidence of insurance procured and developed under the Alaska Surplus Lines Law, AS 21.34. It is not covered by the Alaska Insurance Guaranty Association Act, AS 21.80.”
AK Stat § 21.34.110 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.110. Surplus lines broker's duty to notify insured.

(a) A contract of insurance placed by a surplus lines broker under this chapter is not binding upon the insured and a premium charged is not due and payable until (1) the surplus lines broker has notified the insured in writing, a copy of which shall be maintained by the surplus lines broker with the records of the contract, available for examination, that the insurer with whom the surplus lines broker places the insurance does not hold a certificate of authority issued by this state and is not subject to its supervision, and, in the event of the insolvency of the surplus lines insurer, losses will not be covered under AS 21.80 (Alaska Insurance Guaranty Association Act); or (2) the producing broker has notified the insured and the surplus lines broker in writing, a copy of which shall be maintained by the producing broker and the surplus lines broker with the records of the contract, available for examination, that the insurer with whom the surplus lines is placed does not hold a certificate of authority issued by this state and is not subject to this state's supervision, and, in the event of the insolvency of the surplus lines insurer, losses will not be covered under AS 21.80 (Alaska Insurance Guaranty Association Act). (b) Nothing in this section may be construed as nullifying an agreement by an insurer to provide insurance.
AK Stat § 21.34.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.120. Validity of surplus lines contracts.

Insurance contracts procured under this chapter shall be valid and enforceable as to all parties.
AK Stat § 21.34.130 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.130. Effect of payment to surplus lines broker.

A payment of premium to a surplus lines broker acting for a person other than itself in negotiating, continuing, or reviewing a policy of insurance under this chapter, is considered to be payment to the insurer, notwithstanding conditions or stipulations in the policy or contract to the contrary.
AK Stat § 21.34.150 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 34. Surplus Lines Insurance|Sec. 21.34.150. Surplus lines brokers may accept business from other brokers.

A surplus lines broker licensed by this state may originate surplus lines insurance or accept surplus lines insurance from another surplus lines broker licensed by this state or a producing broker licensed by this state as to the kind and class of insurance involved. The surplus lines broker may compensate the producing broker or surplus lines broker for the insurance.