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- Alaska Statutes.
- Title 21. Insurance
- Chapter 66. Title Insurance Companies
- Section 370. Rate Filing.
previous: Section 360
. Purpose of Title Insurance Rate Regulation.
next: Section 380
. Justification For Rates.
AS 21.66.370. Rate Filing.
- (a) A title insurance company shall file with the director its schedules of rates, manuals of classifications, rules and
plans relating to schedules of rates or manuals of classification, and every modification of the schedules or manuals
that it proposes to use in this state. A filing under this section must contain the effective dates of the documents
filed, and indicate the character and extent of the coverage contemplated.
- (b) The director shall review the filings as necessary to carry out the provisions of this chapter.
- (c) Subject to the provisions of (e) of this section, a filing shall be on file for a period of 30 days before it becomes
effective. The director may, upon written notice given within the 30-day period to the person making the filing, extend
the waiting period for an additional period, not to exceed 30 days, in order to complete the review of the filing.
Additional extensions of the waiting period may also be made with the consent of the title insurance company. Upon
written application by the title insurance company, the director, after review of the application, may authorize a
filing or any part of it to become effective upon the expiration of the waiting period or its extension.
- (d) Except for rates filed under (e) of this section, a filing that has become effective is considered to meet the
requirements of this chapter.
- (e) When the director finds that a rate for a particular kind or class of risk cannot practicably be filed before it is
used, or any contract or kind of title insurance, by reason of rarity or peculiar circumstances, does not lend itself
to advance determination and filing of rates, the director may, under appropriate regulations, permit the rate to be
used without a previous filing and waiting period.
- (f) A title insurance company or title insurance limited producer may not charge a rate for a policy or contract of title
insurance except in accordance with filings or rates that are in effect for the title insurance company as provided in
- (g) The director may not regulate, or require the filing of, rates paid by title insurance companies for reinsurance
contracts or agreements, or policies of excess co-insurance.
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