3 AAC 29.380. Written notice required

(a) When a personal motor vehicle liability insurer secures the application of a potentially eligible applicant, the insurer shall notify the applicant in writing that a reduction in the premium charged is available under AS 21.89.025 . The insurer shall also notify a potentially eligible insured at each policy renewal. An insurer shall document in its underwriting records that it delivered the written notice to each potentially eligible applicant and insured.

(b) An insurer may satisfy its obligation to notify a potentially eligible applicant by providing a pre-printed notice containing the information required in 3 AAC 29.385 if the insurance producer dealing directly with a potentially eligible applicant delivers the pre-printed notice before the applicant completes the application. The insurance producer shall document the delivery of the pre-printed notice to the applicant in the insurance producer's records.

(1) includes the complete written notice in the application;

(2) provides a printed copy of the application including the complete notice to a potentially eligible applicant; and

(3) retains as part of its underwriting records documentation that each potentially eligible applicant received the notice.

History: Eff. 11/13/97, Register 144

Authority: AS 21.06.090

AS 21.89.025

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