Title 21 — Insurance
53 chapters · 1,244 sections in this title.
AS 21.36.485 Coverage of children.
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(a) A health care insurer may not deny enrollment of a child under the health care insurance of the child's parent on the ground that the child (1) was born out of wedlock; (2) is not claimed as a dependent on the parent's federal income tax return; (3) does not reside with the p…
AS 21.36.490 Premium financing.
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A person licensed under AS 21.27 may not (1) enter into any insurance transaction in which the premium is financed by other than the licensee unless the person providing the financing is licensed under and in compliance with AS 06.40 or is exempted from licensure under AS 06.40.0…
AS 21.36.495 Prompt payment of health care insurance claims.
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(a) A health care insurer shall pay or deny indemnities under a health care insurance policy, whether or not services were provided by a participating provider, within 30 calendar days after the insurer or a third-party administrator under contract with the insurer receives a cle…
AS 21.36.500 Unfair financial planning practices.
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(a) A person may not represent, directly or indirectly, to be a financial planner, investment adviser, consultant, financial counselor, or similar specialist engaged in the business of giving financial planning or advice relating to investments, insurance, real estate, tax matter…
AS 21.36.505 Health discount plans.
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(a) A person may not sell, market, promote, advertise, or otherwise distribute a health discount plan unless (1) each advertisement, policy, document, information, statement, or other communication regarding the health discount plan and the plan itself contain a statement, in bol…
AS 21.36.510 Nondisclosure of personal financial and personal health information.
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The director shall adopt regulations regarding the release of financial and health information regarding an individual who seeks to obtain, obtains, or has obtained an insurance product or service from a licensee that is to be used primarily for personal, family, or household pur…
AS 21.36.515 Portable electronics insurance.
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(a) Portable electronics insurance may be offered, issued for delivery, issued, or renewed only if the insurer makes available to customers written material stating (1) a summary of the material terms of the insurance, including (A) the identity of the insurer; (B) the identity o…
AS 21.36.520 Unfair trade practices.
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Article 6. Remedies and General Provisions. (a) An insurer providing a health care insurance policy or its pharmacy benefits manager may not (1) interfere with a covered person's right to choose a pharmacy or provider; (2) interfere with a covered person's right of access to a cl…
AS 21.36.900 Procedures as to undefined practices.
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(a) If the director believes that a person engaged in the insurance business is engaging in this state in an unfair method of competition or in an unfair or deceptive act or practice in the conduct of the business that is not defined as being unfair or deceptive under this chapte…
AS 21.36.910 Hearings and order on violation.
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(a) On the complaint of a person or on the motion of the director, the director may conduct an investigation to determine whether a person is engaged in an unfair method of competition or unfair or deceptive act or practice prohibited by this chapter. (b) If there are grounds for…
AS 21.36.920 Injunctive relief.
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The director may seek injunctive relief to aid in the enforcement of the provisions of this chapter.
AS 21.36.930 Provisions of this chapter additional to other law.
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The powers vested in the director by this chapter are in addition to any other powers to enforce penalties, fines, or other forfeitures authorized by law with respect to acts and practices declared in this chapter to be unfair or deceptive.
AS 21.39.010 Purpose.
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The purpose of this chapter is to promote the public welfare by regulating insurance rates in order that they will not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within …
AS 21.39.020 Applicability.
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(a) This chapter applies to all forms of casualty insurance, including fidelity, surety, and guaranty bonds, to all forms of fire, marine, and inland marine insurance, and to a combination of any of them, or risks or operations in this state. Inland marine insurance includes insu…
AS 21.39.030 Making of rates.
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(a) Rates, including loss costs under AS 21.39.043 or any other provision of law, shall be made in accordance with the following provisions: (1) rates shall not be excessive, inadequate, or unfairly discriminatory; (2) consideration shall be given to past and prospective loss exp…
AS 21.39.035 Required filing of insurance scoring models; personal insurance.
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(a) Credit history may not be used to determine personal insurance rates or premiums or to make underwriting decisions unless the insurance scoring models are filed with the director. Insurance scoring models include all attributes and factors used in the calculation of an insura…
AS 21.39.040 Rate filings.
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(a) Each insurer shall file with the director, except as to inland marine risks, which, by general custom of the business, are not written according to manual rates or rating plans, and except for rates for commercial insurance for which the director, by regulation authorizes an …
AS 21.39.041 Prior approval.
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(a) Except for workers' compensation prospective loss cost filings and workers' compensation assigned risk pool rates by a rating organization under AS 21.39.043, an insurer or rating organization shall file medical malpractice, workers' compensation and assigned risk plan rating…
AS 21.39.043 Workers' compensation loss cost filings and assigned risk pool rate filings.
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(a) On at least an annual calendar year basis, a rating organization shall make a workers' compensation prospective loss cost filing and an assigned risk pool rate filing, even if the rating organization determines that a change in the prospective loss costs or rates is not indic…
AS 21.39.045 Workers' compensation rate filings.
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(a) Notwithstanding any other provision of this chapter, a rate filing for workers' compensation insurance that classifies a risk in the construction industry may not contain or impose a higher premium rate if the risk upon which the higher rate filing is based consists only of a…
AS 21.39.050 Disapproval of filings.
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(a) [Repealed, § 12 ch 88 SLA 2005.] (b) If, within 30 days after a specific inland marine rate on a risk especially rated by a rating organization subject to AS 21.39.040(e) has become effective or, if within 30 days after a special surety or guaranty filing subject to AS 21.39.…
AS 21.39.055 Cancellation of approved filing.
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The voluntary surrender of a certificate of authority or the failure of the surrendering admitted foreign insurer to continue a certificate of authority in force has the effect of cancelling an approval that the insurer may have received under this chapter, unless the approval ha…
AS 21.39.060 Rating organizations.
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(a) A corporation, an unincorporated association, a partnership, or a person, whether located inside or outside this state, may make application to the director for license as a rating organization for the kinds of insurance, or subdivision or class of risk or a part or combinati…
AS 21.39.070 Deviations.
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(a) Each member of or subscriber to a rating organization shall adhere to the filings made on its behalf by the organization except that an insurer may file with the director, in accordance with AS 21.39.040(a), a deviation from the class rates, schedules, rating plans, or rules …
AS 21.39.080 Appeal by minority.
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(a) A member or subscriber to a rating organization may appeal to the director from the action or decision of the rating organization in approving or rejecting a proposed change in or addition to the filings of the rating organization and the director shall, after a hearing held …
AS 21.39.090 Rights of insureds.
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Each rating organization and each insurer that makes its own rate shall, within a reasonable time after receiving written request and upon payment of the reasonable charge as it may make, furnish to an insured affected by a rate made by it, or to the authorized representative of …
AS 21.39.100 Advisory organizations.
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(a) Each group, association or other organization of insurers, whether located inside or outside this state, that assists insurers that make their own filings or rating organizations in rate making by the collection and furnishing of loss or expense statistics or by the submissio…
AS 21.39.110 Joint underwriting or joint reinsurance.
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(a) Each group, association, or other organization of insurers that engages in joint underwriting or joint reinsurance is subject to regulation in accordance with this section. In addition, joint underwriting is subject to all other provisions of this chapter, except for AS 21.39…
AS 21.39.120 Examinations.
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(a) The director shall, at least once in five years, make or cause to be made an examination of each rating organization licensed in this state under AS 21.39.060 and may, as often as the director may consider it expedient, make or cause to be made an examination of each advisory…
AS 21.39.130 Rate administration.
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(a) The director shall adopt reasonable regulations and statistical plans, reasonably adapted to each of the rating systems filed with the director, that may be modified and that shall be used by each insurer in the recording and reporting of its loss and countrywide expense expe…
AS 21.39.140 False or misleading information.
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A person or organization may not wilfully withhold information from, or knowingly give false or misleading information to, the director, a statistical agency designated by the director, a rating organization, or an insurer, that will affect the rates or premiums chargeable under …
AS 21.39.150 Assigned risks.
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Agreements may be made among insurers with respect to the equitable apportionment among them of insurance that may be afforded applicants who are in good faith entitled to the insurance but who are unable to procure the insurance through ordinary methods. The insurers may agree a…
AS 21.39.155 Assigned risk pool.
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(a) The director may require insurers, except a reciprocal insurer formed under AS 21.75, as a condition of writing a line of insurance dealing with medical malpractice or workers' compensation, to participate in an assigned risk pool if the director finds that mandatory carrier …
AS 21.39.160 Penalties.
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(a) If the director finds, following an appropriate hearing, that a person or organization has violated a provision of this chapter, the director may impose a civil penalty not to exceed $200 or the actual amount of gain, whichever is greater, for each violation, but if the direc…
AS 21.39.170 Hearing procedure and judicial review.
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(a) An insurer or rating organization to which the director has issued an order made without a hearing may, within 30 days after notice to it of the order, make written request to the director for a hearing. The director shall hear the party or parties within 20 days after receip…
AS 21.39.175 Statistics. [Repealed, § 19 ch 6 SLA 1998.]
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[Repealed or reserved.]
AS 21.39.180 [Renumbered as AS 21.39.030(c).]
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[Repealed or reserved.]
AS 21.39.210 Flex-rating.
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(a) Except for workers' compensation, medical malpractice, and assigned risk plan rates, an insurer's rate level increase or decrease may take effect without prior approval if the cumulative rate level change for all coverages combined, calculated from the effective date to 12 mo…
AS 21.39.220 File and use, filing of rates, supplementary rate information, and supporting information.
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(a) An insurer's rate level increase or decrease filing falling outside of the limitation provided in AS 21.39.210(a) is subject to file and use provisions under this section, unless the filing is otherwise exempt from those provisions under another provision in this chapter. A r…
AS 21.40.010 Filing statement of ownership of equity securities.
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Every person who is directly or indirectly the beneficial owner of more than 10 percent of a class of an equity security of a domestic stock insurance company, or who is a director or an officer of the company, shall file with the department within 10 days after becoming the bene…
AS 21.40.020 Suit to recover profits realized on unfair use of information.
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For the purpose of preventing the unfair use of information that may have been obtained by a beneficial owner of more than 10 percent of a class of an equity security, or by a director or officer by reason of a relationship to a company, the profit realized by the beneficial owne…
AS 21.40.030 Unlawful sales of equity securities.
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A beneficial owner of more than 10 percent of a class of equity security, or a director or officer, may not, directly or indirectly, sell an equity security of the company if the person selling the security or the principal of that person (1) does not own the security sold, or (2…
AS 21.40.040 Exemption of certain sales of equity securities.
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AS 21.40.020 does not apply to a purchase and sale, or sale and purchase, and AS 21.40.030 does not apply to a sale, of an equity security of a domestic stock insurance company not then or theretofore held in an investment account, by a dealer in the ordinary course of business a…
AS 21.40.050 Arbitrage transactions exempted.
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AS 21.40.010 — 21.40.030 do not apply to foreign or domestic arbitrage transactions unless made in contravention of regulations adopted by the department in carrying out the purposes of this chapter.
AS 21.40.060 Exemption of registered or closely held equity securities.
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AS 21.40.010 — 21.40.030 do not apply to equity securities of a domestic stock insurance company if (1) the securities are registered, or are required to be registered, under 15 U.S.C. 78l (§ 12, Securities Exchange Act of 1934), as amended; or (2) the domestic stock insurance co…
AS 21.40.070 Enforcement; regulations.
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The department may, under AS 44.62 (Administrative Procedure Act), adopt regulations necessary for the execution of the functions vested in it by AS 21.40.010 — 21.40.060, and may for that purpose classify domestic stock insurance companies, securities, and other persons or matte…
AS 21.40.080 Definitions.
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In this chapter, (1) “domestic stock insurance corporation” means a stock insurance corporation organized under the laws of this state or the Territory of Alaska; (2) “equity security” means a stock or similar security; or a security convertible, with or without considerations, i…
AS 21.42.010 Applicability.
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AS 21.42.010 — 21.42.599 do not apply to (1) reinsurance; (2) policies or contracts not issued for delivery in this state or delivered in this state, except as provided in AS 21.42.120; (3) wet marine and transportation insurance; (4) title insurance, except that AS 21.42.080, 21…
AS 21.42.020 Insurable interest: life, annuity, or health.
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(a) A person of competent legal capacity may procure or effect an insurance contract on the life or body of the person for the benefit of any person. A person may not procure or cause to be procured an insurance contract upon the life or body of another person unless the benefits…
AS 21.42.030 Insurable interest: property.
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(a) A contract of insurance of property or of an interest in property or arising from property may not be enforced as to the insurance except for the benefit of persons having an insurable interest in the things insured at the time of the loss. (b) The measure of an insurable int…