Sec. 21.66.300. Certain names prohibited.
A title insurance limited producer for a title insurance company may not adopt a firm name containing the words “title insurance”, “title guaranty”, or “title guarantee”, unless the words are followed by the words “agent” or “agency” in the same size and type as the words preceding them. This section does not apply to a […]
Sec. 21.66.310. Rebates prohibited.
(a) A title insurer, or officer, employee, attorney, or title insurance limited producer of a title insurer, may not pay, allow, or give or offer to pay, allow, or give, directly or indirectly, as an inducement to obtaining a title insurance business, a rebate, reduction, or abatement of a rate or charge made incident to […]
Sec. 21.66.330. Examination of records.
If the director has reason to believe that a title insurance limited producer has violated or is in violation of AS 21.66.310, the director shall immediately examine the title insurance limited producer’s books of account and record and vouchers pertaining to the business of title insurance. The title insurance limited producer shall pay to the […]
Sec. 21.66.340. Additional penalty for rebates.
A person who violates AS 21.66.310 is liable to the state for five times the amount or value of the rebate, reduction, or abatement of any rate or charge made incident to the issuance of title insurance, or a special favor or advantage, or a monetary consideration or inducement.
Sec. 21.66.350. Division of rates.
Nothing in this chapter prohibits the division of rates and charges between or among a title insurance company and its agent, two or more title insurance companies, one or more title insurance companies and one or more title insurance limited producers, or two or more title insurance limited producers if the division of rates and […]
Sec. 21.66.360. Purpose of title insurance rate regulation.
The purpose of AS 21.66.370 – 21.66.400 is to promote the public welfare by regulating title insurance rates so that they are not excessive, inadequate, or unfairly discriminatory, and to authorize cooperative action between or among title insurance companies in rate making and other matters within the scope of this chapter. Nothing in this chapter […]
Sec. 21.66.370. Rate filing.
(a) A title insurance company shall file with the director its schedules of rates, manuals of classifications, rules and plans relating to schedules of rates or manuals of classification, and every modification of the schedules or manuals that it proposes to use in this state. A filing under this section must contain the effective dates […]
Sec. 21.66.380. Justification for rates.
(a) A rate filing shall be accompanied by a statement of the title insurance company making the filing, setting out the basis on which the rate was determined, with the rates computed. A filing of rates may be justified by (1) the experience or judgment of the title insurance company making the filing; (2) its […]
Sec. 21.66.390. Making of rates.
(a) A title insurance company shall make rates that are not excessive or inadequate, that do not unfairly discriminate between risks in this state that involve essentially the same exposure to loss and expense elements, and that give due consideration to (1) the desirability for stability of rate structures; (2) the necessity of assuring the […]
Sec. 21.66.400. Disapproval of filings.
(a) If within the waiting period provided for in AS 21.66.370(c) the director finds that a filing does not meet the requirements of this chapter, the director shall send to the title insurance company that made the filing written notice of disapproval of the filing specifying in what respects the director finds the filing fails […]