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- Alaska Statutes.
- Title 21. Insurance
- Chapter 36. Trade Practices and Frauds
- Section 110. Exceptions to Discrimination and Rebates.
previous: Section 100
next: Section 120
. Unfair Discrimination and Rebates Prohibited in Property and Casualty Insurance.
AS 21.36.110. Exceptions to Discrimination and Rebates.
Nothing in AS 21.36.090
and 21.36.100 may be construed as including within
the definition of discrimination or rebates any of the following practices:
- (1) in the case of a contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating
their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, if the bonuses, or
abatement of premiums are fair and equitable to policyholders and for the best interests of the insurer;
- (2) in the case of life insurance policies issued on the industrial debit, preauthorized check, bank draft, or similar
plans, making allowance to policyholders who have continuously for a specified period made premium payments directly to
an office of the insurer or by preauthorized check, bank draft, or similar plan, in an amount that fairly represents
the saving in collection expense;
- (3) readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder,
at the end of the first or a subsequent policy year of insurance thereunder, which may be made retroactive only for
that policy year;
- (4) issuance of life or health insurance policies or annuity contracts at rates less than the usual rates of premiums for
the policies or contracts, or modification of premium or rate based on amount of insurance; but the issuance or
modification shall not result in reduction in premium or rate in excess of savings in administration and issuance
expenses reasonably attributable to the policies or contracts.
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