Alaska Statutes Title 21, Chapter 21.42, Article 01 - The Insurance Contract

• Sec. 21.42.010 Applicability.
  AS 21.42.010 - 21.42.599 do not apply to(1) reinsurance;(2) policies or contracts not issued for delivery in this state or delivered in this state,...
• Sec. 21.42.020 Insurable Interest: Life, Annuity, or Health.
  (a) A person of competent legal capacity may procure or effect an insurance contract on the life or body of the person for the...
• Sec. 21.42.030 Insurable Interest: Property.
  (a) A contract of insurance of property or of an interest in property or arising from property may not be enforced as to the...
• Sec. 21.42.040 Interest of Named Insured.
  When the name of the person insured is specified in a policy insuring property the insurance can be applied only to the proper interest...
• Sec. 21.42.050 Change of Interest on Death.
  A change of interest, by will or succession, on the death of the insured does not avoid an insurance of property and the insurance...
• Sec. 21.42.060 Transfer of Interest Between Joint Insureds.
  A transfer of interest by one of the several partners, joint owners, or owners in common, who are jointly insured, to the others, does...
• Sec. 21.42.070 Insurance Without Interest, or of Wager, is Void.
  (a) A stipulation in a policy of insurance of property for the payment of loss without regard to absence of an insurable interest in...
• Sec. 21.42.075 Reimbursement of Losses.
  An insurer may make a filing for approval by the director that provides for reimbursement by an insured of losses paid by the insurer...
• Sec. 21.42.080 Capacity to Contract.
  (a) A person of competent legal capacity may contract for insurance.(b) [Repealed, Sec. 25 ch 245 SLA 1970]. (c) [Repealed, Sec. 25 ch 245...
• Sec. 21.42.090 Application Required, Life and Health Insurance.
  A life or health insurance contract upon an individual, except a contract of group life insurance or of group or blanket health insurance, may...
• Sec. 21.42.100 Alteration of Application.
  (a) If a policy of life or health insurance delivered in this state is reinstated or renewed, and the insured or the beneficiary or...
• Sec. 21.42.110 Representations in Applications.
  All statements and descriptions in an application for an insurance policy or annuity contract, or in negotiations for the policy or contract, by or...
• Sec. 21.42.120 Filing, Approval of Forms.
  (a) A basic insurance policy or annuity contract form, or application form where written application is required and is to be made a part...
• Sec. 21.42.123 Form Filing Subject to Prior Approval.
  (a) A prior approval filing shall be made not less than 30 days before the effective date. At the end of the 30-day period,...
• Sec. 21.42.125 Form Filing Subject to File and Use; Penalties.
  (a) A file and use filing shall be filed with the director for a waiting period of not less than 30 days. The period...
• Sec. 21.42.130 Grounds for Disapproval.
  The director shall disapprove a form filed under AS 21.42.120 or withdraw a previous approval of the form only if the form(1) is in...
• Sec. 21.42.140 Standard Provisions.
  (a) Insurance contracts must contain the standard or uniform provisions that are required by the applicable provisions of this title pertaining to contracts of...
• Sec. 21.42.145 Stop-Loss Insurance Provisions.
  (a) An insurance company licensed under AS 21.09, a hospital or medical service corporation licensed under AS 21.87, a fraternal benefit society licensed under...
• Sec. 21.42.150 Policy Must Contain Entire Contract.
  The policy, when issued, shall contain the entire contract between the parties, and neither the insurer nor its agent or representative, nor a person...
• Sec. 21.42.160 Contents of Policies in General.
  (a) Each policy must specify(1) the names of the parties of the contract;(2) the subject of the insurance;(3) the risks insured against;(4) the time...
• Sec. 21.42.170 Additional Policy Contents.
  A policy may contain additional provisions not inconsistent with this title that are(1) required to be inserted by the laws of the insurer's domicile;(2)...
• Sec. 21.42.175 Non-English Translations.
  (a) The director may approve an insurance policy form in a language other than English if the insurance policy form(1) is filed with a...
• Sec. 21.42.180 Charter, Bylaw Provisions.
  A policy may not contain a provision purporting to make a portion of the charter, bylaws, or other constituent document of the insurer, other...
• Sec. 21.42.190 Execution of Policies.
  (a) Each insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative...
• Sec. 21.42.200 Underwriters' and Combination Policies.
  (a) Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters' policy bearing their names. Any...
• Sec. 21.42.205 Coordination of Benefits.
  (a) Unless prohibited by federal law, an insurer authorized under AS 21.09 to offer, issue for delivery, deliver, or renew an individual or group...
• Sec. 21.42.210 Interest in Reinsurance.
  The original insured has no interest in a contract of reinsurance.
• Sec. 21.42.220 Validity of Noncomplying Forms.
  An insurance policy, rider, or endorsement issued and otherwise valid that contains a condition or provision not in compliance with the requirements of this...
• Sec. 21.42.230 Construction of Policies.
  Each insurance contract shall be construed according to the entirety of its terms and conditions as set out in the policy and as amplified,...
• Sec. 21.42.240 Binders.
  (a) A binder or other contract for temporary insurance may be made orally or in writing and shall be considered to include all the...
• Sec. 21.42.250 Delivery or Posting of Policy; Notifications.
  (a) An insurer shall provide a policy or endorsement to the insured or to the person entitled to it by mail or delivery or...
• Sec. 21.42.260 Renewal by Certificate.
  An insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option...
• Sec. 21.42.265 Effective Date of Coverage.
  Unless otherwise provided by law, the effective date of a change relating to coverage under an insurance contract as a result of a change...
• Sec. 21.42.270 Assignment of Policies.
  A policy may be assignable or nonassignable, depending upon its terms. Subject to its terms relating to its assignability, a life, group life, or...
• Sec. 21.42.280 Payment Discharges Insurer.
  When the proceeds of or payments under a life or health insurance policy or annuity contract, whether issued before or after July 1, 1966,...
• Sec. 21.42.290 Minor May Give Acquittance.
  (a) A minor domiciled in this state who has attained the age of 16 years shall be considered competent to receive and to give...
• Sec. 21.42.300 Forms for Proof of Loss to Be Furnished.
  An insurer shall furnish, upon written request of the person claiming to have a loss under an insurance contract issued by the insurer, forms...
• Sec. 21.42.310 Claims Administration Not Waiver.
  Without limitation of a right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer constitute...
• Sec. 21.42.315 Separate Accounts.
  (a) A domestic life insurance company may establish one or more separate accounts, and may allocate to an account amounts, including proceeds applied under...
• Sec. 21.42.320 - 21.42.340 Exemption of Life Insurance, Group Life Insurance, and Disability Insurance Proceeds. [Repealed, Sec. 14 Ch 62 Sla 1982. for Current Law See As 09.38.025 (A), 09.38.030(e), and 09.38.050].
  
  Repealed or Renumbered

Last modified: November 15, 2016