Section 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 lawfully written in the state, or liquidation of assets and liabilities of the insurer, other than collection of new premiums, resulting from its former authorized operations in the state;
        (2) related transactions subsequent to issuance of a policy covering only subjects of insurance not resident, located, or expressly to be performed in the state at time of issuance, and which coverage was lawfully solicited, written, and delivered outside the state;
        (3) transactions under surplus lines coverages lawfully written under AS 21.34;
        (4) reinsurance, except as to domestic reinsurers; or
        (5) transactions relative to policies issued in another state, but only if
             (A) the insurer does not market insurance in this state;
             (B) the laws of the state of issue apply to this state's residents covered under the policies; and
             (C) the insurer complies with other requirements the director adopts by regulation to qualify for an exception under this paragraph.

Authorities

21.03.021

Notes

References

AS 21.03.021 Application of title.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 8 ch 50 SLA 1990; am Sec. 22 ch 23 SLA 2011)