Section 21.34.080. Transaction report; evidence of insurance.

   (a) A surplus lines broker shall execute and file with the report required by AS 21.34.170 a written report, which shall be kept confidential, regarding each surplus lines insurance transaction occurring in the preceding period. The report must include
        (1) the name and address of the insured;
        (2) the identity of each insurer including the National Association of Insurance Commissioners company number and the percentage of coverage provided by each;
        (3) a complete description of the subject and location of the risk;
        (4) the amount of gross premium written for the insurance; and
        (5) other information required by the director.
   (b) Instead of the report required in (a) of this section, the director may order that evidence of insurance be filed with the surplus lines association and that the surplus lines association provide periodic reports regarding insurance transactions to the director.
   (c)   [Repealed, Sec. 53 ch 96 SLA 2004].  
   (d) A transaction, as used in this section, is any placement of coverage as well as changes in coverage that result in an increase or decrease of premiums, taxes, or fees.

Authorities

21.34.090

Notes

Implemented As

3 AAC 25.090
3 AAC 25.100
3 AAC 25.105

References

3 AAC 25.090
AS 21.34.090 Surplus lines association.

History

(Sec. 21 ch 117 SLA 1984; am Sec. 124 ch 67 SLA 1992; am Sec. 52 ch 62 SLA 1995; am Sec. 32, 53 ch 96 SLA 2004; am Sec. 14 ch 30 SLA 2009; am Sec. 54 ch 23 SLA 2011)