Section 21.33.042. Suits by nonadmitted insurers.

A nonadmitted insurer may not commence or maintain an action in law or equity in this state to enforce a right arising out of a transaction of insurance in this state except with respect to
        (1) claims under policies lawfully written in this state;
        (2) liquidation of assets and liabilities, other than the collection of new premiums, resulting from its former admitted operations in this state;
        (3) transactions subsequent to issuance of a policy not covering a subject resident, located, or to be performed in this state at time of issuance and lawfully solicited, written, or delivered outside this state;
        (4) surplus lines insurance coverage exported under AS 21.34;
        (5) reinsurance;
        (6) the continuation and servicing of life insurance, health insurance policies, or annuity contracts remaining in force as to residents of this state where the insurer has withdrawn from the state and is not transacting new insurance;
        (7) servicing of policies written by an admitted insurer in a state to which the insured has moved but in which the insured is not licensed, until the term of the policy expires;
        (8) claims under policies covering wet marine and transportation insurance, including vessels of 50 displacement tons or less.

Notes

History

(Sec. 11 ch 117 SLA 1984; am Sec. 104 ch 67 SLA 1992; am Sec. 22 ch 56 SLA 1996)