Alaska Administrative Code

An insurer or insurance producer engages in an unfair or deceptive act or practice if the insurer or insurance producer conducts on a military installation an in-person, face-to-face solicitation of life insurance for which the insurer or insurance producer (1) knowingly solicits…

An insurer or insurance producer engages in an unfair or deceptive act or practice if the insurer or insurance producer (1) submits, processes, or assists in the submission or processing of an allotment form or similar device used by the United States armed forces in order to dir…

In 3 AAC 26.430 - 3 AAC 26.449, unless the context requires otherwise, (1) "active duty" means full-time duty in the active military service of the United States and includes members of the reserve component while serving under published orders for active duty or full-time traini…

Minimum acceptable standards for limitation of coverage for attorney fees taxable against an insured under Alaska Rule of Civil Procedure 82 and disclosure are established under 3 AAC 26.510 - 3 AAC 26.559 for all policies written on risks in this state or relative to a subject r…

A policy under which an insurer has a right or duty to provide a defense for an insured for liability for which the policy provides coycraee must provide coverage for the payment of attorney fees taxable as costs against the insured under Alaska Rule of Civil Procedure 82, (1) ex…

(a) A policy under which an insurer has neither a right nor a duty to provide a defense but agrees to indemnify an insured for the costs of defense for liability for which the policy also provides coverage must provide coverage to indemnify an insured for the payment of attorney …

A policy providing defense-only coverage is not required to provide coverage for the payment of attorney fees awarded as costs against an insured under Alaska Rule of Civil Procedure 82. Notes 3 AAC 26.525 Eff. 12/20/2020, Register 236, January 2021 Authority:AS 21.06.090 AS 21.3…

Notes 3 AAC 26.530 Eff. 7/1/96, Register 138; repealed 12/20/2020, Register 236, January 2021 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison …

(a) A cost-sharing provision that affects the amount of coverage for defense costs may be extended to apply specifically to coverage for attorney fees awarded as costs against an insured under Alaska Rule of Civil Procedure 82. A cost-sharing provision may not apply specifically …

An insurer may not charge a separate premium for the minimum coverage required under 3 AAC 26.510 or 3 AAC 26.520. An insurer may charge a separate premium for coverage in excess of the minimum required. An admitted insurer shall secure from the director prior approval for premiu…

(a) A policy issued by an insurer that limits coverage as permitted under 3 AAC 26.510 - 3 AAC 26.535 must include a policyholder notice regarding Alaska Rule of Civil Procedure 82. (b) The notice required by (a) of this section must (1) conform with the division's (A) Attorney F…

In 3 AAC 26.500 - 3 AAC 26.559, "defense-only coverage" means liability insurance covering defense costs but not settlements or indemnity payments related to events that give rise to the covered defense costs. Notes 3 AAC 26.559 Eff. 12/20/2020, Register 236, January 2021 Authori…

(a) The purpose of 3 AAC 26.610 - 3 AAC 26.749 is to protect the public by providing standards for the treatment by licensees of nonpublic personal information. (b) The provisions of 3 AAC 26.610 - 3 AAC 26.675 apply only to nonpublic personal financial information. (c) The provi…

(a) A licensee shall provide a clear and conspicuous notice that accurately reflects the licensee's privacy policies and practices to a (1) customer not later than when the licensee establishes a customer relationship, except as provided in (d) of this section; and (2) consumer b…

(a) At least once in each 12 consecutive month period in which a customer relationship exists, a licensee shall provide clear and conspicuous notice to each customer that accurately reflects the licensee's privacy policies and practices. (b) A licensee is not required to provide …

(a) In a privacy notice required under 3 AAC 26.610, 3 AAC 26.615, and 3 AAC 26.630, a licensee shall include the following: (1) the categories of nonpublic personal financial information that the licensee collects; (2) the categories of nonpublic personal financial information t…

(a) If a licensee is required to provide an opt out notice under 3 AAC 26.645, the licensee shall provide to each of the licensee's consumers a clear and conspicuous opt out notice that accurately explains the consumer's right to opt out under 3 AAC 26.645. (b) The opt out notice…

Except as otherwise allowed under 3 AAC 26.605 - 3 AAC 26.749, a licensee may not directly or through an affiliate disclose nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice provided to the consu…

(a) Unless a licensee provides the privacy notices required under 3 AAC 26.610, 3 AAC 26.615, and 3 AAC 26.630 directly to an individual described in 3 AAC 26.715(d), the licensee shall provide the privacy notices to the plan sponsor, group or blanket insurance policyholder, grou…

(a) A licensee shall provide a notice required under 3 AAC 26.610 - 3 AAC 26.749 to a consumer in a manner that is reasonably expected to result in receipt of the notice by the consumer. (b) For annual notices, a licensee may comply with the requirements of (a) of this section by…

(a) Except as allowed under 3 AAC 26.605 - 3 AAC 26.749, a licensee may not directly or through an affiliate disclose to a nonaffiliated third party nonpublic personal financial information unless the consumer does not opt out after the licensee has provided the consumer(1) the i…

(a) If a licensee receives, under an exception in 3 AAC 26.665 or 3 AAC 26.670, nonpublic personal financial information from a financial institution that is not an affiliate, the licensee may only disclose or use the information by(1) disclosing the information to the affiliates…

(a) Except as provided in (b) of this section, a licensee may not disclose directly or through an affiliate a policy number or similar form of access number or access code for a consumer's policy or transaction account to a nonaffiliated third party for use in marketing by teleph…

(a) A licensee is not subject to the requirements in 3 AAC 26.625 and 3 AAC 26.645 if the licensee provides nonpublic personal financial information to a nonaffiliated third party to act as a service provider or to perform joint marketing services for the licensee or on behalf of…

(a) A licensee is not subject to the requirements for initial notice in 3 AAC 26.610(a) (2), the opt out requirements in 3 AAC 26.625 and 3 AAC 26.645, or the requirements in 3 AAC 26.660 if the licensee discloses nonpublic personal financial information to a nonaffiliated third …

A licensee is not subject to the requirements for initial notice in 3 AAC 26.610(a) (2), the opt out requirements in 3 AAC 26.625 and 3 AAC 26.645, or the requirements in 3 AAC 26.660 if the licensee discloses nonpublic personal financial information (1) with the consent or at th…

(a) A person licensed, registered, or authorized under AS 21 is not subject to the notice and opt out requirements in 3 AAC 26.610 - 3 AAC 26.670, if the (1) person is an employee or other representative of another licensee; (2) licensee for whom the person is acting as an employ…

(a) Except as provided in (b) of this section or in 3 AAC 26.695(a), a licensee may not disclose nonpublic personal health information about a consumer unless authorization that complies with 3 AAC 26.685 is obtained from the consumer whose nonpublic personal health information t…

(a) Authorization to disclose nonpublic personal health information under 3 AAC 26.680 must be in written or electronic form and must contain (1) the identity of the consumer who is the subject of the nonpublic personal health information; (2) a general description of the types o…

(a) Except as provided in (h) of this section and 3 AAC 26.695(a), within 30 working days after the date a licensee or insurance support organization receives a written request from a consumer for recorded nonpublic personal information about the consumer that adequately describe…

(a) If a licensee complies with all the requirements of 45 C.F.R. Parts 160 and 164 even though the licensee is not required to comply, the licensee is not required to comply with 3 AAC 26.680, 3 AAC 26.685, and 3 AAC 26.690 with respect to health information. (b) Nothing in 3 AA…

(a) A licensee may not unfairly discriminate against a consumer because the consumer opts out of disclosure of nonpublic personal financial information under 3 AAC 26.645. (b) A licensee may not unfairly discriminate against a consumer because the consumer has not authorized the …

A licensee shall develop and implement a comprehensive written customer information security program that (1) includes administrative, technical, and physical safeguards for the protection of customer information; (2) is appropriate for the size and complexity of the licensee and…

(a) For purposes of 3 AAC 26.605 - 3 AAC 26.749, an individual is a consumer if (1) the individual seeks to obtain, obtains, has obtained, or is a claimant or beneficiary of an insurance product or service that provides coverage primarily for personal, family, or household purpos…

(a) In 3 AAC 26.605 - 3 AAC 26.749, unless the context requires otherwise, (1) "affiliate" means a company that controls, is controlled by, or is under common control with another company; (2) "affinity program" means a relationship between a financial institution and an unaffili…

(a) The provisions of 3 AAC 26.750 - 3 AAC 26.769 apply to a group or individual annuity contract except (1) a registered or non-registered variable annuity contract or other registered product; in this paragraph, "registered" means subject to the registration and prospectus deli…

(a) If an application for an annuity contract is taken in a face-to-face meeting, the insurer or licensee shall at or before the time of application give the applicant a copy of (1) the disclosure document described in (g) of this section; and (2) the buyer's guide. (b) Except as…

For an annuity in a payout period with changes in non-guaranteed elements and for the entire accumulation period of a deferred annuity the insurer shall provide each contract owner a report at least annually that contains the status of the contract including at a minimum the foll…

In 3 AAC 26.750 - 3 AAC 26.769, unless the context requires otherwise, (1) "buyer's guide" means the National Association of Insurance Commissioners' Buyer's Guide for Deferred Annuities Fixed, dated 2013 and adopted by reference; (2) "contract owner" means the owner named in the…

(a) Except as provided in (b) of this section, 3 AAC 26.770 - 3 AAC 26.789 apply to any sale or recommendation of an annuity. (b) Unless a provision of 3 AAC 26.770 - 3 AAC 26.789 specifically includes that recommendation, 3 AAC 26.770 - 3 AAC 26.789 do not apply to a transaction…

(a) When making a recommendation of an annuity, a producer shall act in the best interest of the consumer under the circumstances known at the time the recommendation is made, without placing the producer's or the insurer's financial interest ahead of the consumer's interest. A p…

(a) A producer may not solicit the sale of an annuity product unless the producer has adequate knowledge of the product to recommend the annuity and the producer is in compliance with the insurer's standards for product training. A may rely on insurer-provided product-specific tr…

(a) A producer or insurer shall comply with the requirements of AS 21.27.320 and AS 21.27.350 with respect to all information collected from a consumer and other information used in making a recommendation that was the basis for an annuity contact transaction. (b) An insurer, gen…

(a) An insurer is responsible for compliance with 3 AAC 26.770 - 3 AAC 26.789. If a violation occurs, either because of the action or inaction of the insurer or its producer, the director may order (1) an insurer to take reasonably appropriate corrective action for any consumer h…

(a) Nothing in 3 AAC 26.770 - AAC 26.789 creates or implies a private cause of action for a violation of 3 AAC 26.770 - AAC 26.789 or subjects a producer to civil liability under the best interest standard of care set out in 3 AAC 26.775 or under standards governing the conduct o…

In 3 AAC 27.770 - 3 AAC 26.789, (1) "annuity" has the meaning given in AS 21.12.055 with respect to an insurance product that is individually solicited, whether the product is classified as an individual or group annuity; (2) "cash compensation" means any discount, concession, fe…

(a) The provisions of 3 AAC 26.790 - 3 AAC 26.819 apply to all life insurance policies and annuity contract transactions except for the following, unless a provision of 3 AAC 26.790 - 3 AAC 26.819 specifically includes the otherwise exempted transaction: (1) credit life insurance…

(a) An insurance producer who initiates a new application shall submit to the insurer, with or as part of the application, a statement as to whether the applicant has an existing life insurance policy or annuity contract. The statement must be signed by both the applicant and the…

An insurer shall (1) maintain a system of supervision and control designed to ensure compliance with the requirements of 3 AAC 26.790 - 3 AAC 26.819 that at a minimum includes (A) informing the insurer's insurance producers of the requirements of 3 AAC 26.790 - 3 AAC 26.819 and i…

(a) In connection with a replacement, a replacing insurer shall (1) verify that (A) the replacing insurer has received the forms required under 3 AAC 26.795(e) and (f); and (B) the forms received are in compliance with 3 AAC 26.795(e) and (f); (2) notify any other existing insure…