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Title 3 . Commerce, Community, and Economic Development
Chapter 21 . Miscellaneous
Section 600. Applicability

3 AAC 21.600. Applicability

(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.

(b) The provisions of 3 AAC 21.635 - 3 AAC 21.690 apply to all domestic insurers.

(c) The provisions of 3 AAC 21.693 and 3 AAC 21.695 apply to all insurers to which (a) or (b) of this section apply.

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

AS 21.12.020

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Last modified 7/05/2006