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Title 3 . Commerce, Community, and Economic Development
Chapter 21 . Miscellaneous
Section 201. Purpose

3 AAC 21.201. Purpose

The purpose of 3 AAC 21.201 - 3 AAC 21.399 is to protect the interests of insureds by promoting insurer solvency and financial strength, through a reasonable balance of the following objectives:

(1) preservation of principal;

(2) reasonable diversification as to type of investment, issuer, and credit quality;

(3) the allocation of investments by insurers in a manner consistent with principles of prudent investment management, to achieve an adequate return so that obligations to insureds are adequately met and financial strength is sufficient to cover reasonably foreseeable contingencies.

History: Eff. 12/28/2001, Register 160

Authority: AS 21.06.090

AS 21.21.010

AS 21.21.020

AS 21.21.420

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Last modified 7/05/2006