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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 21. INSURANCE. |
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Chapter 21.75. RECIPROCAL AND COOPERATIVE INSURERS. |
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Article 21.75.02. COOPERATIVE INSURANCE COVERAGE. |
Section 21.75.330. Coverage.
Latest version.
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(a) A cooperative insurer organized under AS 21.75.300 is authorized to transact only property insurance, limited to physical damage of
(1) licensed private passenger motor vehicles;
(2) single-family residences, and related structures;
(3) multiple dwellings of not more than four-family units if at least one unit is owner-occupied, and related structures;
(4) mobile homes;
(5) commercial structures of not more than $100,000 value.
(b) Cooperative insurance coverage is limited to risks located or principally garaged within a geographic radius determined by the director to be within the ability of the insureds to control and have an influence over the level of loss.
Authorities
21.75.300