The purpose of this chapter is to protect, subject to certain limitations, the persons specified in AS 21.79.020 (a) against failure in the performance of contractual obligations under life insurance and health insurance policies and annuity contracts specified in AS 21.79.020(b) because of the impairment or insolvency of the member insurer that issued the policies or contracts. To provide this protection, an association of insurers is created under AS 21.79.040 to pay benefits and continue coverages as limited by this chapter, and members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
Section: 21.79.010 21.79.020 21.79.025 21.79.030 21.79.040 21.79.050 21.79.060 21.79.070 21.79.080 21.79.090 21.79.100 21.79.110 21.79.120 21.79.130 21.79.140 NextLast modified: November 15, 2016