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- Alaska Statutes.
- Title 21. Insurance
- Chapter 42. The Insurance Contract
- Section 240. Binders.
previous: Section 230
. Construction of Policies.
next: Section 250
. Delivery of Policy.
AS 21.42.240. Binders.
- (a) A binder or other contract for temporary insurance may be made orally or in writing and shall be considered to include
all the usual terms of the policy as to which the binder was given together with the applicable endorsements designated
in the binder, except as superseded by the clear and express terms of the binder.
- (b) A binder is not valid after the issuance of the policy with respect to which it was given, or after 90 days from its
effective date, whichever period is the shortest.
- (c) If the policy has not been issued a binder may be extended or renewed after the 90 days with the written approval of
- (d) This section does not apply to life or health insurances.
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