Section 21.14.080. Hearings.

   (a) An insurer may request a hearing to challenge an action of the director or request a stay of the director's action as provided under AS 21.06.180 - 21.06.240.
   (b) An insurer shall request a hearing under (a) of this section within 15 days after the director's notice of
        (1) an adjusted risk based capital report under AS 21.14.010;
        (2) an unsatisfactory risk based capital plan or revised risk based capital plan;
        (3) a regulatory action level event based on an unsatisfactory risk based capital plan or revised risk based capital plan;
        (4) the insurer's failure to adhere to its risk based capital plan or revised risk based capital plan and the failure has a substantial adverse effect on the insurer's ability to eliminate the company action level event in accordance with its plan or revised plan; or
        (5) a corrective order applicable to the insurer.

Authorities

21.14.060;21.14.200

Notes

Recent Bills that will modify this

HB 164 INSURANCE; RISK MG'T; HOLDING COMPANIES
SB 107 INSURANCE; RISK MG'T; HOLDING COMPANIES

References

AS 21.14.060 Risk based capital plan.
AS 21.14.200 Definitions.

History

(Sec. 1 ch 76 SLA 1994; am Sec. 8 ch 34 SLA 2015)