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- Alaska Statutes.
- Title 21. Insurance
- Chapter 34. Surplus Lines Insurance
- Section 20. Placement of Surplus Lines Insurance.
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. Subscription Policies or Joint Underwriting in Combination With Admitted Insurers.
AS 21.34.020. Placement of Surplus Lines Insurance.
- (a) Insurance other than reinsurance, wet marine and transportation insurance, insurance independently procured, life
insurance, health insurance except as provided in AS 21.34.035
, and annuity contracts may be procured through a surplus lines broker licensed under AS 21.27 from nonadmitted insurers if
- (1) the insurer is an eligible surplus lines insurer;
- (2) the full amount, kind, or class of insurance cannot be obtained from insurers who are admitted to do business in this
- (3) the producing broker has conducted and documented a diligent search among insurers who are admitted to transact
business in this state and are actually writing the particular kind or class of insurance required by the client in
- (4) the director authorizes an exception to (2) of this section by regulation or by written authorization for an
individual placement upon written request by the broker; and
- (5) all other requirements of this chapter are met.
- (b) In this section,
- (1) "amount" means limit, sublimit, retention, and broadening or restrictive endorsement;
- (2) "class" means rating class;
- (3) "kind" means one or more kinds of insurance as defined in AS 21.12.
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