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(a) The provisions of 3 AAC 21.610 - 3 AAC 21.630 apply to domestic insurers with authority to write life and health lines of business, to all other licensed life and health insurers that are not subject to a substantially similar regulation in their domiciliary state, and to the health business written by property and casualty insurers. The provisions of 3 AAC 21.610 - 3 AAC 21.630 do not apply to assumption reinsurance, yearly renewable term reinsurance, or nonproportional reinsurance. For purposes of this subsection, a regulation in a domiciliary state is substantially similar if the director determines that the regulation equals or exceeds the corresponding requirement in AS 21.12.020 , this section, 3 AAC 21.610 - 3 AAC 21.630, 3 AAC 21.693, and 3 AAC 21.695.
History: Eff. 10/21/92, Register 124; am 11/25/94, Register 132; am 4/20/97, Register 142; am 11/21/2004, Register 172
Authority: AS 21.06.090
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Last modified 7/05/2006