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The purpose of 3 AAC 21.201 - 3 AAC 21.399 is to protect the interests of insureds by promoting insurer solvency and financial strength, through a reasonable balance of the following objectives:
(1) preservation of principal;
(2) reasonable diversification as to type of investment, issuer, and credit quality;
(3) the allocation of investments by insurers in a manner consistent with principles of prudent investment management, to achieve an adequate return so that obligations to insureds are adequately met and financial strength is sufficient to cover reasonably foreseeable contingencies.
History: Eff. 12/28/2001, Register 160
Authority: AS 21.06.090
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Last modified 7/05/2006