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Title 3 . Commerce, Community, and Economic Development
Chapter 26 . Miscellaneous
Section 50. Standards for prompt investigation of claims

3 AAC 26.050. Standards for prompt investigation of claims

(a) Any person transacting a business of insurance who participates in the investigation, adjustment, negotiation, or settlement of a claim shall promptly undertake the investigation of a claim after notification of the claim is received, and shall complete the investigation within 30 working days, unless the investigation cannot reasonably be completed using due diligence.

(b) Unless the notification of a claim is in the form of a suit, demand for arbitration, application for adjudication, or other pleading, or the claim becomes the subject of such litigation within 30 working days, the person transacting the business of insurance shall give written notification to the claimant that specifically states the need and reasons for additional investigative time and also specifies the additional time required to complete the investigation. That notification shall be given no later than the 30th working day after notification of the claim is first received.

(c) This section does not apply to a group insurance claim subject to AS 21.54.020 or other health insurance claim for which the insurer complies with AS 21.54.020 .

History: Eff. 5/6/89, Register 110; am 9/15/2004, Register 171

Authority: AS 21.06.090

AS 21.36.125

AS 21.36.350

AS 21.54.020

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Last modified 7/05/2006