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For purposes of 3 AAC 29.500 - 3 AAC 29.550, an exempt commercial policyholder is an entity that has sufficient insurance buying expertise to negotiate with insurers in a largely unregulated environment and that meets any two of the following criteria:
(1) has net worth of over $30 million;
(2) has net revenues or sales of over $75 million;
(3) has more than 300 employees per individual company or 800 per holding company aggregate;
(4) procures its insurance through use of a risk manager, employed or retained;
(5) collects annual aggregate premiums of over $250,000;
(6) is a nonprofit or public entity with an annual budget or assets of at least $30 million;
(7) is a municipality with a population of over 25,000.
History: Eff. 6/11/2005, Register 174
Authority: AS 21.06.090
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Last modified 7/05/2006