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Alaska Statutes Title 21. Insurance § 21.34.010. Purpose

Current as of January 01, 2025 | Updated by Findlaw Staff

The legislature declares that insurance transactions with nonadmitted insurers are so affected with a public interest as to require regulation, taxation, supervision, and control of the transactions and matters relating to nonadmitted insurance. The purpose of this chapter includes

(1) protection of persons seeking insurance in this state;

(2) permission for surplus lines insurance to be placed with reputable and financially sound nonadmitted insurers and to be exported from this state under this chapter;

(3) establishment of a system of regulation that will

(A) permit orderly access to surplus lines insurance in this state; and

(B) encourage admitted insurers to provide new and innovative types of insurance and make them available to consumers in this state; and

(4) protection of the revenues of this state.

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Cite this article: FindLaw.com - Alaska Statutes Title 21. Insurance § 21.34.010. Purpose - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-21-insurance/ak-st-sect-21-34-010/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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