Section 21.42.160. Contents of policies in general.

   (a) Each policy must specify
        (1) the names of the parties of the contract;
        (2) the subject of the insurance;
        (3) the risks insured against;
        (4) the time when the insurance thereunder takes effect and the period during which the insurance is to continue;
        (5) the premium;
        (6) the conditions pertaining to the insurance.
   (b) If under the policy the exact amount of premium is determinable only at stated intervals or termination of the contract, a statement of the basis and rates upon which the premium is to be determined and paid shall be included.
   (c) Subsections (a) and (b) of this section do not apply to surety contracts, or to group insurance policies.
   (d) Each policy and annuity contract issued by an insurer, and the forms thereof filed with the director, must have printed on them an appropriate designating letter or figure, or combination of letters or figures, or terms identifying the respective forms of policies or contracts. When a change is made in the form, the designating letters, figures, or terms must be correspondingly changed.

Authorities

28.22.101

Notes

Recent Bills that will modify this

HB 372 OMNIBUS INSURANCE

Implemented As

3 AAC 26.510
3 AAC 26.520
3 AAC 26.530
3 AAC 26.550
3 AAC 31.250

References

AS 28.22.101 General coverage requirements; policy limits.

History

(Sec. 1 ch 120 SLA 1966; am Sec. 18 ch 30 SLA 2009; am Sec. 38 ch 41 SLA 2016)