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- Alaska Statutes.
- Title 21. Insurance
- Chapter 14. Risk Based Capital For Insurers
- Section 90. Confidentiality; Restrictions On Use.
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. Penalty For Violation.
AS 21.14.090. Confidentiality; Restrictions On Use.
- (a) Except as provided in this subsection, a report required under AS 21.14.010, a plan required under AS 21.14.060
, the results or report of an examination or analysis of an insurer performed under this chapter, and a corrective
order issued by the director are confidential and may not be made public by the director or another person without the
prior written consent of the insurer who is the subject of the report, plan, analysis, or order. If the director, after
giving the insurer and its affiliates who would be affected by publication of the information notice and opportunity to
be heard, determines that the interests of policyholders, shareholders, or the public will be served by the publication
of the information, the director may publish all or part of the information in the manner the director considers
appropriate. This subsection does not prohibit the director from releasing a report, plan, analysis, or order to an
insurance regulatory agency of another state.
- (b) The calculation of risk based capital for an insurer constitutes a regulatory tool that may indicate a need for
corrective action, and the calculation may not be used as a means to rank insurers. Except as otherwise required in
this chapter, a person may not directly or indirectly use information regarding the risk based capital of an insurer.
If a materially false statement regarding an insurer's risk based capital or an inappropriate comparison of any other
amount to the insurer's risk based capital is published and the insurer is able to demonstrate with substantial proof,
as determined by the director, the falsity or inappropriateness of the statement, the insurer may publish an
announcement exclusively to rebut the materially false statement or inappropriate comparison.
- (c) The director may use the risk based capital instructions, report, adjusted report, plan, and revised plan only for
monitoring the solvency of an insurer or for determining the need for corrective action by an insurer. Notwithstanding
AS 21.39, documents described in this subsection may not be
considered or introduced as evidence in a rate proceeding or used by the director to calculate or derive any elements
of an appropriate premium level or rate of return for a line of insurance that an insurer or an affiliate is authorized
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