AK | The Alaska Division of Insurance has issued Regulatory Order No. R 22-03.
- Alaska Statute (AS) 21.34.030 states that workers’ compensation coverage may be placed in and written by a nonadmitted insurer if
a. the director considers it in the best interest of the public and issues an order to that effect;
b. the insurance is written in accordance with AS 21.34;
c. the conditions for writing workers’ compensation in the nonadmitted market receive compliance;
d. the rates and rating plans have been filed by the surplus lines broker as may be required by AS 21.39;
e. the surplus lines broker’s activities related to placement of the insurance with a nonadmitted insurer comply with AS 21.34; and
f. the nonadmitted insurer has minimum capital and surplus that is two times that required by AS 21.34.040(c)(I ).