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2023 Alaska Statutes › Title 21. Insurance › Chapter 34. Surplus Lines Insurance › Sec. 21.34.230. Penalties.

(a) In addition to any other penalty provided by law, a person that the director determines under AS 21.06.170 - 21.06.240 has violated the provisions of this chapter is subject to
(1) a civil penalty equal to the compensation promised, paid or to be paid, directly or indirectly, to a licensee in regard to each violation; and
(2) either a civil penalty of not more than $10,000 for each violation or a civil penalty of not more than $25,000 for each violation if the director determines that the person wilfully violated the provisions of this chapter.
(b) A violation of this chapter is cause for denial, nonrenewal, suspension, or revocation of a license.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.010. Purpose.

The purpose of this chapter is to regulate an act or a trade practice in the business of insurance in accordance with the intent of Congress as expressed in 15 U.S.C. 1011 - 1015 (McCarran-Ferguson Act) by defining or providing for determination of all the practices in this state that constitute an unfair method of competition or an unfair or deceptive act or practice and by prohibiting them.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.020. Unfair methods, deceptive acts prohibited.

A person may not engage in an act or a trade practice in this state or relative to a subject resident, located, or to be performed in this state that is defined in this chapter as, or determined under this chapter to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.025. Unfair marketing practices prohibited.

(a) A person may not violate the applicable provisions of AS 21.56.180.
(b) A person may not sell a membership in an association or labor union for the purpose of qualifying an individual for group insurance.
(c) A person that sells a membership in an association may not offer group insurance for purposes of selling membership in an association or labor union.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.030. Misrepresentation and false advertising of insurance policies.

(a) A person may not make, issue, circulate, broadcast, or have made, issued, circulated, or broadcast an estimate, circular, statement, illustration, comparison, assertion, or other written, electronic, or oral presentation that
(1) misrepresents the benefits, advantages, conditions, sponsorship, source, or terms of an insurance policy or a health discount plan;
(2) misrepresents the dividends or share of the surplus to be received on an insurance policy;
(3) misrepresents an insurance policy as being a share or shares of stock;
(4) makes a false or misleading statement as to the dividends or shares of the surplus previously paid on an insurance policy;
(5) misrepresents or makes a misleading statement as to the financial condition of an insurer or as to the legal reserve system upon which a life insurer operates;
(6) uses a name or title of an insurance policy or class of insurance policies misrepresenting its true nature;
(7) is a misrepresentation for the purpose of inducing, or that tends to induce the lapse, forfeiture, exchange, conversion, or surrender of an insurance policy;
(8) is a misrepresentation for the purpose of effecting or tending to effect a pledge or assignment of or loan against an insurance policy;
(9) appears to be an actual policy for a named individual when it is merely an advertisement;
(10) does not clearly designate the name of the insurer providing the coverage or about which the statements are made;
(11) is in any other way misleading, false, or deceptive;
(12) misrepresents a health discount plan as a form or type of insurance;
(13) describes a health discount plan using common insurance terminology; or
(14) misrepresents that a health discount plan is underwritten by or associated with an insurer.
(b) In this section, “misrepresentation” includes any statement or omission of a statement that when taken in the context of the whole presentation may tend to mislead or deceive the person or persons addressed.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.040. False information, advertising.

A person may not make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster, or over a radio or television station, or in any other way, an advertisement, announcement, or statement containing an assertion, representation, or statement with respect to the business of insurance or with respect to a person in the conduct of the person's insurance business, that is untrue, deceptive, or misleading.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.050. Twisting prohibited.

A person may not make or issue, or cause to be made or issued, a written or oral statement misrepresenting or making incomplete comparisons as to the terms, conditions, or benefits contained in a policy for the purpose of inducing or attempting or tending to induce the policyholder to lapse, forfeit, surrender, retain, exchange, or convert an insurance policy.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.060. False or misleading financial statements.

(a) A person may not knowingly file with a public official, or knowingly make, publish, disseminate, circulate, or deliver to a person, or place before the public, or knowingly cause, directly or indirectly, to be made, published, disseminated, circulated, delivered to a person, or placed before the public, a false statement of the financial condition of a person in the insurance business.
(b) A person may not make a false entry in a book, report, or statement of a person in the insurance business, knowing it to be a false entry, or knowingly omit to make a true entry of a material fact pertaining to the business of a person in the insurance business in a book, report, or statement.
(c) A person may not, directly or indirectly, in connection with an audit, review, or communication required under AS 21.09.200,
(1) make or cause to be made a materially false or misleading statement to an accountant; or
(2) omit to state or cause another person to omit to state any material fact necessary in order to make other statements made not misleading to an accountant.
(d) A person may not, directly or indirectly, take any action to coerce, manipulate, mislead, or fraudulently influence any accountant engaged in the performance of an audit under AS 21.09.200 if that person knew or should have known that the action, if successful, could result in rendering the insurer's financial statement materially misleading.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.070. Defamation.

(a) A person may not make, publish, disseminate, or circulate, directly or indirectly, or aid, abet, or encourage the making, publishing, disseminating, or circulating of an oral or written statement or a pamphlet, circular, article, or literature that is false, or maliciously critical of or derogatory to the financial condition of a person in the insurance business or proposing to enter the insurance business and that is calculated to injure a person engaged or proposing to engage in the business of insurance.
(b) A person providing the director with information concerning the financial condition or an act or a practice of a licensee of the division is immune from liability for defamation.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.080. Boycott, coercion, and intimidation.

A person may not enter into an agreement to commit, or by any concerted action commit, an act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.090. Unfair discrimination.

(a) A person may not make or permit unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for a contract of life insurance or of life annuity or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of the contract.
(b) A person may not make or permit unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium, policy fees, or rates charged for a policy or contract of health insurance or in the benefits payable, or in any of the terms or conditions of the contract, or in any other manner whatever.
(c) A person may not make or permit arbitrary or unfair discrimination between insureds or property having like insuring or risk characteristics, in the premium or rates charged for a policy or contract of property, casualty, surety, marine, wet marine or transportation insurance, or in the dividends or other benefits payable on the insurance, or in the selection of it, or in any other of the terms and conditions of the insurance.
(d) Except to the extent necessary to comply with AS 21.42.365 and AS 21.56, a person may not practice or permit unfair discrimination against a person who provides a service covered under a group health insurance policy that extends coverage on an expense incurred basis, or under a group service or indemnity type contract issued by a health maintenance organization or a nonprofit corporation, if the service is within the scope of the provider's occupational license. In this subsection, “provider” means a state licensed physician, physician assistant, dentist, osteopath, optometrist, chiropractor, advanced practice registered nurse, pharmacist, naturopath, physical therapist, occupational therapist, marital and family therapist, psychologist, psychological associate, licensed clinical social worker, licensed professional counselor, certified direct-entry midwife, or dental hygienist holding an advanced practice permit.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.096. Prohibited denial of claim for causation.

An insurer may not deny a claim if a risk, hazard, or contingency insured against is the dominant cause of a loss and the denial occurs because an excluded risk, hazard, or contingency is also in a chain of causes but operates on a secondary basis.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.100. Rebates.

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.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.110. Exceptions to discrimination and rebates.

Nothing in AS 21.36.090, 21.36.100, and AS 21.54.100 may be construed as including within the definition of discrimination or rebates any of the following practices:
(1) in the case of a contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, if the bonuses or abatement of premiums is fair and equitable to policyholders and for the best interests of the insurer;
(2) in the case of a life insurance policy issued on industrial debit, preauthorized check, bank draft, or similar plans, making allowance to policyholders who have made premium payments directly to an office of the insurer or by preauthorized debit, check, bank draft, or similar plan, in an amount that fairly represents the saving in collection expense;
(3) readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder, at the end of the first or a subsequent policy year of insurance thereunder, which may be made retroactive only for that policy year;
(4) issuance of life or health insurance policies or annuity contracts at rates less than the usual rates of premiums for the policies or contracts, or modification of premium or rate based on amount of insurance; but the issuance or modification may not result in reduction in premium or rate in excess of savings in administration and issuance expenses reasonably attributable to the policies or contracts;
(5) a reward under a wellness program established under a health care plan that favors an individual if the wellness program meets the following requirements:
(A) the wellness program is reasonably designed to promote health or prevent disease;
(B) an individual has an opportunity to qualify for the reward at least once a year;
(C) the reward is available for all similarly situated individuals;
(D) the wellness program has alternative standards for individuals who are unable to obtain the reward because of a health factor;
(E) alternative standards are available for an individual who is unable to participate in a reward program because of a health condition;
(F) the insurer provides information explaining the standard for achieving the reward and discloses the alternative standards; and
(G) the total rewards for all wellness programs under the health insurance policy do not exceed 20 percent of the cost of coverage.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.120. Unfair discrimination and rebates prohibited in property and casualty insurance.

(a) A property, casualty, or surety insurer or its employee or representative, or an agent, or solicitor may not pay, allow, give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insurance or after insurance has been effected, a rebate, discount, abatement, credit, or reduction of the premium named in the policy of insurance, or a special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement, not specified in the policy, except to the extent provided for in an applicable filing with the director as provided by law.
(b) An insured named in a policy, or an employee of the insured may not knowingly receive or accept directly or indirectly, a rebate, discount, abatement, credit, or reduction of premium, or special favor or advantage or valuable consideration or inducement.
(c) An insurer may not make or permit an unfair discrimination between insureds or property having like insuring or risk characteristics, in the premium or rates charged for insurance, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of the insurance.
(d) Nothing in this section may be construed as prohibiting the payment of commissions or other compensation to persons duly transacting business under AS 21.27, or as prohibiting an insurer from allowing or returning to its participating policyholders, members, or subscribers, lawful dividends, savings, or unabsorbed premium deposits.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.125. Unfair claim settlement practices.

(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.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.130. Stock operations and advisory board contracts.

A person may not issue or deliver or permit its agents, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in a common law corporation, or securities, or an advisory board contract or other similar contract of any kind promising returns and profits as an inducement to insurance.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.160. Right of debtor or borrower to select insurance producer and insurer.

If property insurance is required in connection with a debt or loan, the debtor or borrower has the reasonable right to select the insurance producer and insurer through whom the insurance is to be placed if (1) the insurance is provided for the protection of the creditor's or lender's interest in the property at the commencement of the risk; or (2) in the case of renewal of insurance, the renewal policy is delivered to the creditor or lender no later than 30 days before the renewal date.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.170. Interlocking ownership, management.

(a) An insurer may retain, invest in, or acquire the whole or a part of the capital stock of another insurer or insurers, or have a common management with another insurer or insurers, unless the retention, investment, acquisition, or common management is inconsistent with a provision of this title, or unless by reason thereof the business of the insurers with the public is conducted in a manner that substantially lessens competition generally in the insurance business or tends to create a monopoly.
(b) A person otherwise qualified may be director of two or more insurers that are competitors, unless the effect is to lessen substantially competition between insurers generally or tends materially to create a monopoly.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.185. Maintenance of complaint handling records.

Except for records subject to health carrier grievance reporting and record keeping requirements established under AS 21.07.005, an insurer shall maintain a complete record of all the complaints received by the insurer since the date of the insurer's last market conduct examination under AS 21.06.120 or for four years, whichever occurs first. This record must indicate the total number of complaints, the classification of each complaint by line of insurance, the nature of each complaint, the disposition of each complaint, and the time it took to process each complaint. For purposes of this section, “complaint” means any written communication primarily expressing a grievance.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.190. Fictitious groups.

(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.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 1. Trade Practices in General. › Sec. 21.36.195. Surplus lines brokers and insurance producers; prohibited acts.

A surplus lines broker or an insurance producer may not fail to provide evidence of insurance, filings, or reports, or fail to maintain the records, or fail to pay the taxes and fees, required under AS 21.34.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.210. Limits on cancellation.

(a) An insurer may not exercise its right to cancel a policy of personal automobile insurance except for the following reasons:
(1) nonpayment of premium; or
(2) the driver's license or motor vehicle registration of either the named insured or of an operator who resides in the same household as the named insured or who customarily operates a motor vehicle insured under the policy has been under suspension or revocation during the policy period or, if the policy is a renewal, during its policy period or the 180 days immediately preceding its effective date.
(b) During the policy period, a modification of automobile physical damage coverage, except coverage for loss caused by collision, whereby provision is made for the application of a deductible amount not exceeding $100 is not a cancellation of the coverage or of the policy.
(c) [Repealed, § 47 ch 29 SLA 1987.]
(d) This section does not apply to
(1) the failure to renew a policy, except as to coverage in force for less than 12 months;
(2) a policy that has been in effect less than 60 days at the time notice of cancellation is mailed or delivered by the insurer, unless it is a renewal policy.
(e) [Repealed, § 47 ch 29 SLA 1987.]
(f) An insurer may not exercise its right to cancel a policy of personal insurance other than personal automobile insurance, except for the following reasons:
(1) nonpayment of premiums, including nonpayment of additional premiums, calculated in accordance with the current rating manual of the insurer, justified by a physical change in the insured property or a change in its occupancy or use;
(2) conviction of the insured of a crime having as one of its necessary elements an act increasing a hazard insured against;
(3) discovery of fraud or material misrepresentation made by the insured or a representative of the insured in obtaining the insurance or by the insured in pursuing a claim under the policy;
(4) discovery of a grossly negligent act or omission by the insured that substantially increases the hazards insured against;
(5) physical changes in the insured property that result in the property becoming uninsurable; or
(6) entire abandonment of the property that increases a hazard insured against; if a policy is cancelled under this paragraph, in addition to the notice required under AS 21.36.220, the insurer shall give notice of cancellation of the policy to a lender on file with the insurer at the time of the cancellation; in this paragraph, “entire abandonment” means the property is no longer occupied by the insured as defined by the policy and does not have contents of substantial utility; however, property is not entirely abandoned if the insured or an agent for the insured demonstrates that the property is being reasonably maintained and monitored for a condition that might cause damage to the property.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.225. Notice of health insurance coverage cancellation, coverage change, or premium change.

(a) Except for a health care insurance policy subject to AS 21.51.400 or AS 21.54.130, an insurer may not cancel a health insurance policy unless the insurer provides written notice to a policyholder at least 45 days before the effective date of the cancellation.
(b) An insurer shall provide written notice to a policyholder of the specific changes in coverage or the exact change in premium at least 45 days before the effective date of the change in coverage or premium.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.235. Notice of premium or coverage changes upon renewal.

(a) Except as provided in AS 21.36.305, if the renewal premium is increased more than 10 percent for a reason other than an increase in coverage or exposure base, or if after renewal there will be a material restriction or reduction in coverage not specifically requested by the insured, written notice shall be mailed to the insured and to the agent or broker of record as required by AS 21.36.260
(1) at least 20 days before expiration of a personal insurance policy; or
(2) at least 45 days before expiration of a business or commercial policy.
(b) If notice before expiration of the policy is not given as required by (a) of this section, the existing policy shall continue until the insurer provides notice for the time period required by (a) of this section for that policy.
(c) This section does not apply to workers' compensation insurance or to business or commercial policies issued under AS 21.34.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.240. Failure to renew.

(a) An insurer may only fail to renew a personal insurance policy on the policy's annual anniversary. An insurer may not fail to renew a policy unless a written notice of nonrenewal is mailed to the named insured under AS 21.36.260 at least 20 days for a personal insurance policy, and at least 45 days for a business or commercial insurance policy, before the date the policy expires or the anniversary date of a policy written for a term longer than one year or with no fixed expiration date.
(b) In addition to the requirements in (a) of this section, an insurer may not fail to renew a homeowner's insurance policy based solely on the earliest claim made by the insured within the three-year period immediately preceding the policy's annual anniversary if the claim arises from a criminal act committed by a third party. In this subsection, “homeowner's insurance” includes coverage described in AS 21.36.460(i)(7)(B) and (C).
(c) If notice of nonrenewal is not given as required by this section, the existing policy shall continue until the insurer provides notice for the period required by this section for the policy.
(d) This section does not apply
(1) if the insurer has in good faith manifested its willingness to renew;
(2) in case of nonpayment of premium for the expiring policy;
(3) if the insured fails to pay the premium as required by the insurer for renewal; or
(4) to business or commercial policies placed under AS 21.34.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.250. Cancellation or nonrenewal of automobile insurance.

When a policy of automobile liability insurance is cancelled, other than for nonpayment of premium, or is not renewed in accordance with AS 21.36.240, the insurer shall notify the named insured of possible eligibility for automobile insurance through the automobile assigned risk plan, or automobile insurance plan. The notification must accompany or be included in the notice of cancellation or nonrenewal required by AS 21.36.220 and 21.36.240.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.255. Premium return or credit.

(a) If an insurance policy is cancelled, rejected, or rescinded by the
(1) insurer, the insurer shall return or credit any unearned premium paid to the agent or broker of record, or directly to the insured or premium finance company, if applicable; or
(2) insured, the insurer shall return or credit any unearned premium to the agent or broker of record or directly to the insured or premium finance company, if applicable, less a cancellation fee not to exceed 7.5 percent of the unearned premium; a cancellation fee may not be charged unless the fee is clearly stated in the policy; the insurer shall return or credit the unearned premium less a lawful cancellation fee
(A) within 45 days of receipt of the request for cancellation or the effective date of cancellation, whichever is later; or
(B) if the policy is selected for audit, within 45 days of completion of an audit; the insurer shall perform and complete an audit within 45 days of receipt of the request for cancellation or the effective date of cancellation, whichever is later.
(b) Notwithstanding (a) of this section, if the insurer clearly indicates one or more of the following features in the policy, an insurer may issue a policy
(1) whose premium is earned at a varying rate due to seasonality of exposure;
(2) that contains a minimum earned premium; or
(3) with a fluctuating premium base.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.260. Proof and method of mailing notice.

If a notice is required from an insurer under this chapter, the insurer shall
(1) mail the notice by first class mail to the last known address of the insured and
obtain a certificate of mailing from the United States Postal Service; or
(2) transmit the notice by electronic means, to the last known electronic address of the intended recipient, if the insurer can obtain an electronic confirmation of receipt by the intended recipient.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.270. Effect of failure to comply.

Notwithstanding the failure of an insurer to comply with AS 21.36.210 - 21.36.310, termination of coverage under the policy either by cancellation or nonrenewal is effective on the effective date of any other policy providing similar coverage on the same risk or motor vehicle or a replacement of it.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.280. Immunity of insurer, director, and informer.

There is no liability on the part of, and a cause of action of any nature may not arise against, the director of insurance or against an insurer, its authorized representatives, agents, or employees, or a person furnishing to the insurer information as to reasons for cancellation, for any statement made by any of them in a written notice of cancellation, or in any other communication, oral or written, specifying the reasons for cancellation, or the providing of information pertaining to a cancellation or for statements made or evidence submitted at a hearing conducted in connection with a cancellation. However, this immunity from liability does not apply when the information furnished or statement made is untrue and the person furnishing the information or making the statement knew of the lack of truth or was grossly negligent in ascertaining the truth.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.290. Policy period.

(a) A policy with a policy period or term longer than one year or a policy with no fixed expiration date shall be considered to be written for successive policy periods or terms of one year, and termination by an insurer effective on an anniversary date of the policy shall be considered a failure to renew.
(b) The rate for a personal automobile insurance policy may not be changed more frequently than once every six months.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.305. Premium increases on personal automobile insurance policies.

(a) An insurer may not increase the premium on a personal automobile insurance policy unless the increase applies to all insureds of the same class.
(b) An insurer may not increase the premium or add a surcharge to a personal automobile insurance policy because of the issuance of a citation for a moving traffic violation unless the insured or another person who resides in the insured's household and is covered by the policy has been convicted of the violation or has entered a plea of no contest to the violation.
(c) The director shall adopt regulations to determine circumstances under which an insurer may increase the premium or add a surcharge to a personal automobile insurance policy.
(d) An insurer that increases the premium or adds a surcharge to a personal automobile insurance policy may only make the increase or surcharge effective on the renewal date of the policy.
(e) An insurer that increases the premium or adds a surcharge to a personal automobile insurance policy shall give written notice of the increase or surcharge at least 20 days before it takes effect, stating the reason for the change and the right of appeal under AS 21.39.090. This subsection does not apply to
(1) premium increase resulting from a change requested by an insured, if the insured is notified at the time the request is made that the amount of the insured's premium will change as a result of the requested policy change; or
(2) rate approved by the director if the insurer gives written notice of a premium increase to the insured at least 20 days before the renewal date of the affected policy.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.307. Effect of overweight vehicle offenses on personal automobile insurance.

(a) An insurer may not take adverse action relating to the personal automobile insurance of a driver who commits one or more violations related to an overweight vehicle under AS 45.75.380(a)(10) or (11).
(b) In this section, “adverse action” means the cancellation, refusal to insure, denial or failure to renew, increase in premiums, placement with an affiliate that charges higher premiums or offers less favorable policy terms, or any other action that increases the cost or decreases the extent of coverage or availability of personal automobile insurance to the driver.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 2. Cancellations and Renewals. › Sec. 21.36.310. Definitions.

In AS 21.36.210 - 21.36.310,
(1) “business or commercial insurance” means insurance other than personal insurance, reinsurance, life insurance, health insurance, fidelity and surety insurance, title insurance, or an annuity contract;
(2) “nonpayment of premium” means failure of the named insured to discharge when due any obligations of the named insured in connection with the payment of premium on a policy, or any installment of the premium, whether the premium is payable directly to the insurer or its agent or indirectly under any premium finance plan or extension of credit;
(3) “personal automobile insurance” means insurance not related to business or commercial activities, covering automobile liability, uninsured or underinsured motorists, automobile medical payments, or automobile physical damage, that is delivered or issued for delivery in this state, and under which the insured vehicles are of the following types only:
(A) a motor vehicle of the private passenger or station wagon type that is not used as a public or livery conveyance, nor rented to others; or
(B) any other four-wheel motor vehicle with a load capacity of 1,500 pounds or less that is not used in the occupation, profession, or business of the insured, nor used as a public or livery conveyance, nor rented to others;
(4) “personal insurance” has the meaning given in AS 21.36.460(i);
(5) “renewal” or “renew” means
(A) the issuance and delivery of an insurance policy at the end of the policy period, that replaces a policy previously issued and delivered by the same insurer;
(B) the issuance and delivery of a certificate or notice extending the term of a policy beyond its policy period or term; or
(C) the extension of the term of a policy beyond its policy period or term under a provision for extending the policy by payment of a continuation premium.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 3. Financial Institutions; Loans; Credit. › Sec. 21.36.319. Anticoercion and antitying.

(a) A person may not
(1) require, as a condition to the lending of money or extension of credit, or a renewal of the loan or extension of credit, that the obligee of the money or credit negotiate a policy or contract of insurance through any particular person or group of persons;
(2) disapprove the insurance policy provided by a borrower for the protection of property securing credit or a loan if disapproval is based on other than reasonable standards uniformly applied and relating to the extent of coverage required and the financial soundness and the services of the insurer; the standards may not discriminate against a particular type of insurer or call for the disapproval of a policy containing coverage in addition to that required;
(3) unless charges are required when the person handling the insurance transaction is a licensee, require a consumer, insurer, broker, or agent to pay a separate charge for handling an insurance policy required as security for a loan on real property, or to pay a separate charge to substitute the insurance policy of one insurer for that of another, except that interest may be charged on premium loans or premium advancements in accordance with the security instrument.
(b) A person shall
(1) use separate documents for an insurance transaction, other than credit insurance or flood insurance, and for a credit transaction; and
(2) maintain separate and distinct records relating to insurance transactions, including consumer complaint information, and make the records available to the director for inspection upon notice.
(c) A person may not include insurance premiums in a primary credit transaction without the consent of the consumer.
(d) Nothing in this section prohibits a person from informing a consumer or prospective consumer that insurance is required in order to obtain a loan or credit, that loan or credit approval is contingent on the procurement of acceptable insurance by the consumer, or that insurance is available from the person.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 3. Financial Institutions; Loans; Credit. › Sec. 21.36.321. Misrepresentation in financial institution sales.

In the sale of insurance by a financial institution, a person may not engage in any practice or use an advertisement that may tend to mislead or deceive a consumer or cause a consumer to erroneously believe that
(1) the insurance is backed by or a return on the insurance is guaranteed by the state, the federal government, the person, or the Federal Deposit Insurance Corporation;
(2) the state or federal government
(A) will pay a claim under an insurance contract that is an obligation of or was sold by the person;
(B) is responsible for the insurance sales activities of the person; or
(C) guarantees the credit of the person;
(3) for insurance that contains investment risk, the insurance does not contain investment risk, the principal may not be lost, or the value of the insurance may not decline;
(4) the lending of money, extension of credit, or a renewal of a loan is conditioned on the purchase of insurance from the person and that insurance may not be purchased from another source.
2023 Alaska Statutes › Title 21. Insurance › Chapter 36. Trade Practices and Frauds › Article 3. Financial Institutions; Loans; Credit. › Sec. 21.36.323. Disclosures required in financial institution sales.

(a) In the sale of insurance by a financial institution, a person shall disclose both orally and in writing to a consumer before the initial purchase of insurance that
(1) the insurance is not a deposit or other obligation of the person;
(2) the insurance is not guaranteed by the person or the person soliciting insurance;
(3) the insurance is not insured by the Federal Deposit Insurance Corporation or other agency of the United States, the financial institution, or the person;
(4) if the insurance contains risk, the insurance contains investment risk and the insurance may lose value;
(5) the consumer is not required to negotiate a policy or contract of insurance through any particular person or group of persons as a condition to the lending of money or extension of credit, or a renewal of the loan or extension of credit, except that the person may impose reasonable requirements uniformly applied and relating to the extent of coverage required and the financial soundness and the services of the insurer and that the standards may not discriminate against a particular type of insurer or require disapproval of a policy containing coverage in addition to that required.
(b) A person shall also provide the disclosures required in (a) of this section to a consumer both orally and in writing at the time of application for an extension of credit.
(c) If an application for insurance is made by telephone, written disclosure as required in (a) of this section must be mailed to the consumer within three working days.
(d) A person may provide the disclosures required in (a) of this section electronically, if
(1) the consumer affirmatively consents to electronic disclosure; and
(2) the disclosures are provided in a format that the consumer is able to access at a later time by a method such as through printing or storing the disclosures electronically.
(e) A person shall provide the disclosures required in (a) of this section in a meaningful form and in a conspicuous, simple, direct, and understandable manner that is designed to call attention to the information provided.
(f) A person shall obtain a written acknowledgment or, in the case of an electronic disclosure provided in compliance with (d) of this section, a written or electronic acknowledgment, by the consumer that the consumer received the disclosures as required in this section.
(g) This section does not require that a person provide the disclosures required in this section in advertisements that are of a general nature or that describe or list the services or products offered by a financial institution or on behalf of a financial institution.
(h) In this section, “meaningful form” means
(1) for other than an electronic form, a form of disclosure that is provided to a consumer orally and in writing;
(2) for an electronic form, a disclosure that a consumer cannot electronically bypass before purchasing insurance.