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- Alaska Statutes.
- Title 21. Insurance
- Chapter 36. Trade Practices and Frauds
- Section 120. Unfair Discrimination and Rebates Prohibited in Property and Casualty Insurance.
previous: Section 110
. Exceptions to Discrimination and Rebates.
next: Section 122
. Premium Financing.
AS 21.36.120. Unfair Discrimination and Rebates Prohibited in Property and Casualty Insurance.
- (a) A property, casualty, or surety insurer or its employee or representative, or an agent, or solicitor may not pay,
allow, give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insurance or after insurance
has been effected, a rebate, discount, abatement, credit, or reduction of the premium named in the policy of insurance,
or a special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or
inducement, not specified in the policy, except to the extent provided for in an applicable filing with the director as
provided by law.
- (b) An insured named in a policy, or an employee of the insured may not knowingly receive or accept directly or
indirectly, a rebate, discount, abatement, credit, or reduction of premium, or special favor or advantage or valuable
consideration or inducement.
- (c) An insurer may not make or permit an unfair discrimination between insureds or property having like insuring or risk
characteristics, in the premium or rates charged for insurance, or in the dividends or other benefits payable thereon,
or in any other of the terms and conditions of the insurance.
- (d) Nothing in this section may be construed as prohibiting the payment of commissions or other compensation to persons
duly transacting business under AS 21.27, or as prohibiting an
insurer from allowing or returning to its participating policyholders, members, or subscribers, lawful dividends,
savings, or unabsorbed premium deposits.
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