Section 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 appears on the most recent list of eligible surplus lines insurers published by the director. The list is to be published at least semiannually by
        (1) posting the list on the division's Internet website; and
        (2) providing a copy of the list to a person on request to the division.
   (b) Nothing in this section requires the director to place or maintain the name of a nonadmitted insurer on the list of eligible surplus lines insurers.
   (c) A nonadmitted insurer shall be removed from the list of eligible surplus lines insurers if the nonadmitted insurer fails to meet the requirement under AS 21.34.040(d). However, the director may reinstate a nonadmitted insurer on the list of eligible surplus lines insurers if the nonadmitted insurer has remedied the reason for removal from the list.

Authorities

21.34.060

Notes

Recent Bills that will modify this

HB 372 OMNIBUS INSURANCE

Implemented As

3 AAC 25.150

References

11 AAC 09.320
3 AAC 25.010
3 AAC 25.040
3 AAC 25.150
AS 21.34.060 Other nonadmitted insurers.

History

(Sec. 21 ch 117 SLA 1984; am Sec. 31 ch 96 SLA 2004; am Sec. 31 ch 80 SLA 2006; am Sec. 27, 28 ch 41 SLA 2016)