AK| The Alaska Division of Insurance issued Order R 25-01, effective January 7, 2025, updating the state’s Surplus Lines Placement List in accordance with 3 AAC 25.040 and Alaska Statute AS 21.06.180-230. The order follows a hearing and reviews insurers’ availability in the admitted market. It adds specific insurance classes to the surplus lines list—categories that lack adequate admitted insurer options—allowing brokers to procure coverage through non-admitted insurers without further due diligence if these categories are listed.
- Two classes of insurance were newly added to the placement list:
- Hotels/Motels – Pre-1990, due to lack of coverage offerings from admitted insurers.
- Non-owned and Hired Trailer with coverage limits over $100K, also found to lack admitted options.
- A request to add Personal Homeowners insurance for properties valued at $1M+ in Protection Class 10 was denied, as admitted insurers do offer the coverage.