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(a) Insurance may be procured through an Alaska licensed surplus lines broker from a risk retention group, as defined in 3 AAC 24.290, that does not hold a certificate of authority from this state only if the risk retention group is currently properly registered with the division.
(b) A surplus lines placement with a risk retention group which is in compliance with other statutes and regulations is not subject to 3 AAC 25.010, 3 AAC 25.030, 3 AAC 25.040, and 3 AAC 25.050.
(c) The notice required by AS 21.34.110 shall include the following federally mandated language in 10-point type:
NOTICE
This policy is issued by your risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency funds are not available for your risk retention group.
History: Eff. 8/28/91, Register 119
Authority: AS 21.06.090
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The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.
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Last modified 7/05/2006