Alaska Statutes Sec. 21.80.140 - Recognition of Assessments in Surcharge Rates

The rates and premiums charged for insurance policies to which this chapter applies may include surcharge rates sufficient to offset the adjusted assessments made under this chapter and paid to the association by member insurers, and these surcharge rates may not be considered excessive because they contain an amount reasonably calculated to offset the full amounted of adjusted assessments paid by member insurers. The association shall notify the director of each surcharge percentage determined by the association, and this surcharge percentage shall be the maximum surcharge rate that may be applied by member insurers related to the assessment, except that a member insurer may make application to the director to apply a higher surcharge rate. The amount charged on a policy shall be shown separate from the premium for coverage on the policy. The surcharge rate is not considered a premium and is not subject to the premium tax imposed under AS 21.09.210.

Section: Previous  21.80.070  21.80.080  21.80.090  21.80.095  21.80.100  21.80.110  21.80.120  21.80.130  21.80.140  21.80.150  21.80.160  21.80.170  21.80.180  21.80.190    Next

Last modified: November 15, 2016