Alaska Statutes Title 21, Chapter 21.09 - Authorization of Insurers and General Requirements

• Sec. 21.09.010 Certificate of Authority Required.
  (a) A person may not act as an insurer and an insurer may not transact insurance in this state except as authorized by a...
• Sec. 21.09.020 Exception From Certificate of Authority Requirement.
  A certificate of authority is not required of an insurer, not otherwise authorized in this state, with regard to(1) transactions relative to its policies...
• Sec. 21.09.030 Admission for Investment Only.
  A foreign insurer may transact business in this state without a certificate of authority, for the purpose and to the extent only of investing...
• Sec. 21.09.040 General Eligibility of Insurers.
  To qualify for and hold authority to transact insurance in this state an insurer shall comply with this title and with its charter powers...
• Sec. 21.09.050 Name of Insurer.
  (a) An insurer may not be authorized to transact insurance in this state that has or uses a name so similar to that of...
• Sec. 21.09.060 Combinations of Insuring Powers in One Insurer.
  An insurer that otherwise qualifies may be authorized to transact any one kind or combination of kinds of insurance as defined in AS 21.12,...
• Sec. 21.09.070 Capital Funds Required of Foreign Insurers and New Domestic Insurers.
  (a) To qualify for authority to transact any one kind of insurance as defined in AS 21.12, or combination of kinds of insurance as...
• Sec. 21.09.080 Capital Funds Required of Old Domestic Insurers.
  (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...
• Sec. 21.09.090 Deposit Requirement.
  (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...
• Sec. 21.09.100 Management and Affiliations.
  The director may not grant or continue authority to transact insurance in this state to an insurer whose principal management personnel is found by...
• Sec. 21.09.110 Application for Certificate of Authority.
  (a) To apply for an original certificate of authority, an insurer shall file with the director its application, accompanied by the applicable fees set...
• Sec. 21.09.120 Issuance, Refusal, and Ownership of Certificate.
  (a) If, upon completion of its application, the director finds that the insurer has met the requirements for and is entitled to a certificate...
• Sec. 21.09.130 Continuance, Expiration, Reinstatement, and Amendment of Certificate.
  (a) A certificate of authority issued or renewed under this title continues in force as long as the insurer is entitled to it under...
• Sec. 21.09.135 Voluntary Surrender of Certificate of Authority.
  (a) A foreign admitted insurer may apply for voluntary surrender of its certificate of authority and the director may accept the application, if the...
• Sec. 21.09.140 Mandatory Revocation or Suspension of Certificate.
  (a) The director shall suspend or revoke an insurer's certificate of authority(1) if the action is required by a provision of this title;(2) if...
• Sec. 21.09.150 Suspension or Revocation for Violations and Special Grounds.
  (a) The director may suspend or revoke an insurer's certificate of authority if, after a hearing, the director finds that the insurer has violated...
• Sec. 21.09.160 Notice of Suspension or Revocation and Effect Upon Agent's Authority.
  (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...
• Sec. 21.09.170 Duration of Suspension, Insurer's Obligations, and Reinstatements.
  (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...
• Sec. 21.09.175 Determination of Impairment.
  If the director determines that an insurer transacting business in this state is impaired or in imminent danger of becoming impaired, the director may...
• Sec. 21.09.180 Director Attorney for Service of Process.
  (a) Each insurer applying for authority to transact insurance in this state shall appoint the director as its attorney to receive service of legal...
• Sec. 21.09.190 Service of Process.
  (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,...
• Sec. 21.09.200 Annual Statement; Audited Financial Report.
  (a) Each authorized insurer shall annually, before March 2, file with the director or the director's designee a full and true statement of its...
• Sec. 21.09.205 Quarterly Statement.
  (a) The director may require an insurer to file quarterly financial statements. If required, the statements must follow for a given quarter the reporting...
• Sec. 21.09.207 Statement of Actuarial Opinion and Supporting Documentation.
  (a) An insurer authorized to write property, casualty, surety, marine, wet marine, transportation, or mortgage guaranty insurance shall file annually with the director a...
• Sec. 21.09.210 Tax on Insurers.
  (a) Each authorized insurer, and each formerly authorized insurer with respect to premiums written while an authorized insurer in this state, shall file with...
• Sec. 21.09.220 - 21.09.240. Resident Agent's Counter Signature; Exception; Affidavit Requirement. [Repealed, Sec. 2 Ch 41 Sla 1984].
  Repealed or Renumbered
• Sec. 21.09.242 Cooperation With the Department of Health and Social Services.
  (a) An insurer, including a pharmacy benefits manager, with respect to medical assistance programs under AS 47.07, shall cooperate with the Department of Health...
• Sec. 21.09.245 Required Notice.
  (a) If an insurer intends to change the insurer's name, domicile, or other information provided on the certificate of authority, the insurer shall file...
• Sec. 21.09.247 Biographical Affidavits.
  A domestic insurer shall file with the director a complete affidavit of biographical information not later than 30 days after the appointment of an...
• Sec. 21.09.250 Prohibited Acts.
  An insurer doing business in this state may not make, write, place, or cause to be made, written, or placed in this state a...
• Sec. 21.09.260 Penalties.
  An insurer that the director determines, following an appropriate hearing as provided in AS 21.06.170 - 21.06.230, has violated the provisions of AS 21.09.250...
• Sec. 21.09.270 Retaliation.
  (a) If, under the laws of another state or foreign country, taxes, licenses, and other fees, in the aggregate, and fines, penalties, deposit requirements,...
• Sec. 21.09.280 General Agents. [Repealed, Sec. 47 Ch 51 Sla 1990].
  Repealed or Renumbered
• Sec. 21.09.290 Risk Retention Groups.
  (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...
• Sec. 21.09.300 Disclosure of Material Transactions.
  (a) A domestic insurer shall file a report with the director disclosing a material acquisition and disposition of assets or a material nonrenewal, cancellation,...
• Sec. 21.09.310 Authorization of United States Branches of Alien Insurers and General Requirements.
  (a) This section applies to all United States branches of alien insurers using this state as a state of entry to transact the business...
• Sec. 21.09.320 Maintenance of Records.
  (a) A foreign insurer shall keep at its principal place of business a complete record of its assets, transactions, and affairs in accordance with...

Last modified: November 15, 2016