Alaska Statutes Title 21, Chapter 21.34 - 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...
• 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 ,...
• 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...
• 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...
• 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...
• Sec. 21.34.040 Eligible Surplus Lines Insurers Required.
  (a) Coverage may be placed in a nonadmitted insurer by a surplus lines broker only if(1) at the time of placement, the nonadmitted insurer...
• 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...
• 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...
• 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,...
• 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,...
• 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...
• 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...
• 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...
• Sec. 21.34.120 Validity of Surplus Lines Contracts.
  Insurance contracts procured under this chapter shall be valid and enforceable as to all parties.
• 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...
• Sec. 21.34.140 Licensing of Surplus Lines Brokers. [Repealed, Sec. 223 Ch 67 Sla 1992].
  Repealed or Renumbered
• 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...
• Sec. 21.34.160 Records of Surplus Lines Broker. [Repealed, Sec. 223 Ch 67 Sla 1992].
  Repealed or Renumbered
• Sec. 21.34.170 Quarterly Reports, Summary of Exported Business.
  (a) A surplus lines broker shall file with the director, on forms prescribed by the director, a report of all surplus lines insurance, by...
• Sec. 21.34.180 Surplus Lines Tax.
  (a) In addition to collecting the full amount of gross premiums written by an insurer for surplus lines insurance, the surplus lines broker shall...
• Sec. 21.34.190 Filing Fee.
  (a) The fee for filing the statement under AS 21.34.180 (e) is an amount equal to one percent on gross premium charged less any...
• Sec. 21.34.200 Collection of Taxes and Fees.
  (a) If the tax collectible under AS 21.34.180 or the fee collectible under AS 21.34.190 by a surplus lines broker is not paid within...
• Sec. 21.34.210 Suspension, Revocation, or Non-Renewal of Surplus Lines Broker License. [Repealed, Sec. 223 Ch 67 Sla 1992].
  Repealed or Renumbered
• Sec. 21.34.220 Actions Against Surplus Lines Insurer; Service of Process.
  (a) A surplus lines insurer may be sued upon a cause of action arising in this state under a surplus lines insurance contract made...
• 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...
• Sec. 21.34.240 Severability.
  If any provision of this chapter, or the application of a provision of this chapter to any person or circumstance, is held invalid, the...
• Sec. 21.34.250 Regulations.
  The director may adopt regulations to implement, define, and enforce the provisions of this chapter.
• Sec. 21.34.900 Definitions.
  In this chapter,(1) "affiliate" or "affiliated" means, with respect to an insured, any entity that controls, is controlled by, or is under common control...

Last modified: November 15, 2016