Title 29 — Insurance and Insurance Companies
6 chapters · 124 sections in this title.
A.S.C.A. § 29.1545 Regulation of sales material
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The Commissioner, if he considers it necessary, may require the filing by an insurer of any sales presentation material for use in the sale or the presentation for sale of any policy. The Commissioner, within 30 days after the filing of the sales presentation material, shall disa…
A.S.C.A. § 29.1550 Accrual of premium
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The insurer is entitled to payment of the premium as soon as the subject matter insured is exposed to the peril insured against. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1551 Right to return of premium
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Unless the insurance contract otherwise provides, a person insured is entitled to a return of premium after a policy is cancelled or rescinded as provided herein: (1) to the whole premium if no part of his interest in the thing insured was exposed to any of the perils insured aga…
A.S.C.A. § 29.1552 Acknowledgment of receipt of premium
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An acknowledgment in a policy of receipt of the premium is conclusive evidence of its pay-ment, so far as to make the policy binding, notwithstanding any stipulation in the policy that it shall be binding until the premium is actually paid. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1560 Approval
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(a) All rates, rate schedules, rate plans, and methods of computing rates to be applied to any insurance transacted in American Samoa must be filed in the office of the Commissioner, and before any rates may be charged, advertised, publicized, or otherwise represented, they must …
A.S.C.A. § 29.1561 Standards
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An insurer, in making rates, and the Commissioner in approving them, shall apply the follow-ing standards: (a) Rates shall not be excessive or inadequate, as herein provided, nor shall they be unfair or discriminatory. (b) No rate may be held excessive unless such rate is unreaso…
A.S.C.A. § 29.1562 Rating bureaus
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Insurers are authorized to become members or subscribers of rating bureaus, or advisory organizations of a like nature and may use the rating systems, and underwriting rules and policy forms of those organizations, provided they are not excessive, inadequate or unfairly discrimin…
A.S.C.A. § 29.1563 Disapproval of filings by Commissioner
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(a) If, within the waiting period, the Commissioner finds that a filing does not meet the requirements of 29.1560 through 29.1565, he shall send to the insurer or rating organization which made the filing, written notice of disapproval of the filing, specifying therein in what re…
A.S.C.A. § 29.1564 Motor vehicle insurance rates
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The following chart indicates the maximum allowable annual motor vehicle liability rates: Type Surcharge .00 +.40 +.90 +l .50 +2.20 Private $187.50 $262.50 $356.25 $468.75 $600. Points 0 1 2 3 4 Commercial & Fleet 231.25 Rentals 375. Motorcycles & Motorbikes 56.25 78.75 106.25 14…
A.S.C.A. § 29.1565 Liability rates for buses and taxis
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(a) Annual maximum motor vehicle liability rates for buses and taxis are as follows: Points 0 1 2 Rates $350 $450 $600 Points shall be calculated in the same manner as provided in 29.1564 for private vehicles, except that: (1) the points shall be the total points of both the owne…
A.S.C.A. § 29.1566 Violation-Penalty
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Any person violating 29.1560 through 29.1564 is guilty of a class B misdemeanor, and shall, upon conviction, be sentenced accordingly. History: 1974, PL 13-58 § 1, amd 1980, PL 16-90 § 28. Amendments: 1980 Amended to conform with penalties provided for in Title 46, Criminal Justi…
A.S.C.A. § 29.1570 Perils not insured against-Rescue efforts
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An insurer is liable: (1) when the thing insured is rescued from a peril insured against and which would otherwise have caused a loss if in the course of the rescue, the thing is exposed to a peril not insured against, and which permanently deprives the insured of its possession,…
A.S.C.A. § 29.1571 Liability of insurer—Negligence of insured
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An insurer is not liable for a loss caused by the willful act of the insured; but the insurer is not exonerated by the negligence of the insured or of the Insured’s agents or others. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1572 Notice of loss
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Failure to give notice of loss covered by any insurance within any period provided for by the policy or otherwise may not exonerate the insurer if the notice is given within a reasonable time after the insured has or should have first knowledge of the loss. In classes of insuranc…
A.S.C.A. § 29.1573 Preliminary proof of loss
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When preliminary proof of loss is required by a policy, the insured is not bound to give such proof as would be necessary in a court of justice, but it is sufficient for him to give the best evi-dence in his power at the time. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1574 Waiver of defects in notice or preliminary proof
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All defects in a notice of loss, or in preliminary proof thereof, which the insured might remedy, and which the insurer omits to specify to him, without unnecessary delay, as ground of objection, are waived. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1575 Waiver of delay
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Delay in the presentation to an insurer of notice, or preliminary proof of loss, is waived if caused by an act of the insurer, or if he omits to make objection promptly and specifically upon that ground. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1576 Proof by third person-Sufficient compliance
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If a policy requires, by way of preliminary proof of loss, the certificate or testimony of a person other than the insured or beneficiary, there is sufficient compliance with the requirement if the insured or the beneficiary uses reasonable diligence to procure the certificate or…
A.S.C.A. § 29.1577 Failure to pay loss, recovery of amount due, and damages
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In all cases where loss occurs and the insurer liable therefor fails to pay the same within the time specified in the policy, after demand made therefor, the insurer is liable to pay the holder of the policy, in addition to the amount of such loss, 12% damages upon the amount of …
A.S.C.A. § 29.1578 Total loss by fire or miscellaneous insurance-Recovery of full amount
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A fire or miscellaneous insurance policy, in case of a total loss of any risk insured under the classes specified in this chapter as fire or miscellaneous insurance, must be held and considered to be a liquidated demand against the insurer taking the risk for the full amount stat…
A.S.C.A. § 29.1580 Definition
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Double insurance exists when the same person is insured by several insurers separately in respect to the same subject, interest and risk. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1581 Contribution by insurers
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In case of double insurance, the several insurers are liable to pay losses thereon as follows: (a) In fire and miscellaneous insurance, each insurer shall contribute ratably without regard to the dates of the several policies. (b) In marine insurance, the liability of the several…
A.S.C.A. § 29.1590 Definition
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A contract of reinsurance is one by which an insurer procures a third person to insure him against loss or liability by reason of such original insurance. History: 1974, PL 13-58 § 1.
A.S.C.A. § 29.1591 Authorization
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No admitted insurer may reinsure with any other insurer who has not been previously admitted in American Samoa, or who has not been approved by the Commissioner as a reinsurer. History: 1974, PL 13-58 § 1.