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- Alaska Statutes.
- Title 21. Insurance
- Chapter 42. The Insurance Contract
- Section 125. Form Filing Dubject to File and Use; Penalties.
previous: Section 123
. Form Filing Dubject to Prior Approval.
next: Section 130
. Grounds For Disapproval.
AS 21.42.125. Form Filing Dubject to File and Use; Penalties.
- (a) A file and use filing shall be filed with the director for a waiting period of not less than 30 days. The
period may be extended by the director or the insurer or rating organization for an additional 30 days if notice is given within the
initial 30-day period that additional time is needed for the consideration of the filing. The filing may become effective at the end of
the waiting period unless disapproved by the director before the expiration of the waiting period.
- (b) The filing must state an effective date that must be after the waiting period. Upon written notice by the
insurer or rating organization, the director may authorize a filing that has been reviewed to become effective before the expiration of
the waiting period.
- (c) A file and use form filing must include a signed compliance certificate certifying that the filing complies
with this title. An authorized officer or state filings manager of the insurer shall sign the compliance certificate stating that, to
the best of the individual's knowledge, the filing complies with this title. The director may issue an order requiring an insurer who
submits an incomplete or inaccurate compliance certificate to submit future form filings for prior approval. The order must specify the
conditions under which the insurer may again submit filings under this section. In addition to any other penalty provided by law, a
person that the director finds has submitted a materially false or misleading compliance certificate may be subject to either a civil
penalty of not more than $10,000 for each violation or a civil penalty of not more than $25,000 for each violation if the director finds
that the person knowingly violated the provisions of this title. A filing that does not include the signed compliance certificate shall
be reviewed under the prior approval procedure under AS 21.42.123 . In this subsection, "knowingly" has the meaning given in AS 11.81.900 .
- (d) The director may require an insurer or rating organization to provide additional information to demonstrate
that a file and use filing meets the requirements of this title or to revise the filing to meet the requirements of this title. If an
insurer or rating organization fails to provide the information within the waiting period described in (a) of this section, the director
shall consider the failure to be a request to withdraw the filing from further consideration.
- (e) A file and use filing shall be open to public inspection after the filing becomes effective.
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