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- Alaska Statutes.
- Title 21. Insurance
- Chapter 27. Producers, Agents, Administrators, Brokers, Adjusters, and Managers
- Section 110. Term of Appointment.
previous: Section 100
. Appointment of Insurance Producer, Managing General Agent, and Reinsurance Intermediary Manager; Acts of Agent.
next: Section 115
. Lines of Authority.
AS 21.27.110. Term of Appointment.
- (a) An appointment under AS 21.27.100
continues in force until the appointment is terminated in writing.
- (b) If an insurer, reinsurer, or authorized representative
discovers information showing that the appointee whose appointment was terminated has engaged in an activity
identified in AS 21.27.410
during the period of the appointment, the insurer, reinsurer, or authorized representative shall, on a form or in a
format prescribed by the director, promptly notify the director.
- (c) Within 15 days after providing notification in accordance with (b) of this section, the insurer, reinsurer, or
authorized representative shall mail a copy of the notification to the appointee at the last address on record with the
insurer, reinsurer, or authorized representative. The notice must be provided by certified mail, return receipt requested, postage prepaid, or by overnight
delivery using a nationally recognized mail carrier.
- (d) Within 30 days after the appointee receives notification in accordance with (c) of this section, the appointee may
file written comments concerning the substance of the notification with the director and shall provide a copy of the
written comments to the insurer, reinsurer, or authorized representative. The written comments filed with the director
must be included with each report distributed or disclosed concerning a reason about the termination of the
- (e) If requested by the director, an insurer, a reinsurer, or an authorized representative shall provide to the director
additional information, documents, records, or other data pertaining to a termination or activity of a licensee under
- (f) A notice of termination submitted to the director under this section must include a statement of the reasons for the
termination. A statement of the reasons for termination is confidential and not subject to inspection and copying under
. A statement of reasons for the termination may not be admitted as evidence in a civil action or an administrative
proceeding against an insurer, reinsurer, or authorized representative by or on behalf of a person affected by the
termination, except when the action or proceeding involves perjury, unsworn falsification in the second degree, fraud, or failure to comply
with this subsection.
- (g) If an insurer, a reinsurer, or an authorized representative fails to report as required under this section or is found by a
court to have knowingly or intentionally falsely made that report, the director may, after notice and hearing, suspend
or revoke the license or certificate of authority of the insurer, reinsurer, or authorized representative and may
impose a penalty in accordance with AS 21.27.440
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