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- Alaska Statutes.
- Title 21. Insurance
- Chapter 14. Risk Based Capital For Insurers
- Section 30. Regulatory Action Level Event.
previous: Section 20
. Company Action Level Event.
next: Section 40
. Authorized Control Level Event.
AS 21.14.030. Regulatory Action Level Event.
- (a) If a regulatory action level event occurs, the director shall
- (1) require the affected insurer to submit a plan or a revised plan under AS 21.14.060
; if the level event is caused by the insurer's failure to adhere to a previously filed plan or revised plan that has
been accepted by the director, the director may exempt the insurer from this requirement;
- (2) perform whatever examination, analysis, or review of the assets, liabilities, and operations of the insurer that the
director determines necessary; and
- (3) issue a corrective order specifying the action that the insurer is required to take to eliminate the level event.
- (b) When conducting a review of the insurer's plan or revised plan examining or analyzing the assets, liabilities, and
operations of the insurer or formulating a corrective order with respect to the insurer, the director may retain an
actuary, investment expert, or other consultant. The affected insurer or affiliated person shall pay the reasonable
costs of a person retained by the director under this subsection as ordered by the director.
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