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- Alaska Statutes.
- Title 21. Insurance
- Chapter 9. Authorization of Insurers and General Requirements
- Section 205. Quarterly Statement.
previous: Section 200
. Annual Statement; Audited Financial Report.
next: Section 207
. Statement of Actuarial Opinion and Supporting Documentation.
AS 21.09.205. Quarterly Statement.
- (a) The director may require an insurer to file quarterly financial statements. If required, the statements must follow
for a given quarter the reporting format specified in the quarterly financial statement blank form and instructions
most recently approved by the National Association of Insurance Commissioners.
- (b) A quarterly financial statement, if required, is due 45 days after the end of the quarter to which it applies.
- (c) An insurer shall pay to the division $100 for each day the insurer fails to file the quarterly statement in the form
required or within the time established in (b) of this section.
- (d) In addition to the requirements of (a) of this section, an authorized insurer shall file its quarterly statement with
the National Association of Insurance Commissioners on electronic media acceptable to the association by the due date
established by the association, and shall pay the applicable filing fee. The director may waive the filing requirement
if the insurer only transacts business in this state and only accepts risks relative to a subject resident, located, or
to be performed in this state. An insurer that fails to comply with this subsection is subject to the penalties
specified in (c) of this section, calculated from the filing and fee due date established by the National Association
of Insurance Commissioners.
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