(a) Except as provided otherwise in this chapter, a person may not act as or represent to be an insurance producer, managing general agent, reinsurance intermediary broker, reinsurance intermediary manager, surplus lines broker, or independent adjuster in this state or relative to a subject resident, located, or to be performed in this state unless licensed […]
(a) For the protection of the people of this state, the director may not issue or renew a license except in compliance with this chapter and may not issue a license to a person, or to be exercised by a person, found by the director to be untrustworthy, incompetent, or who has not established to […]
(a) A licensee shall notify the director in writing not later than 30 days after a change in residence, place of business, legal name, fictitious name or alias, mailing address, electronic mailing address, telephone number, or compliance officer. A licensee shall report to the director in writing any administrative action taken against the licensee by […]
(a) The director may not issue an insurance producer, a managing general agent, or a surplus lines broker license to a person if the director has reasonable cause to believe that the applicant for the license would, during the 12-month period immediately following issuance of the license, earn or receive an aggregate amount in commission, […]
(a) Application for a license shall be made to the director upon forms prescribed by the director. As a part of or in connection with the application, the applicant shall furnish information concerning the applicant’s identity, personal history, experience, business record, purposes, and other pertinent facts that the director may reasonably require. The applicant shall […]
(a) Except as provided in this chapter, an applicant for an individual license and a compliance officer applicant for a firm license shall, before the issuance of the license, personally take and pass, to the satisfaction of the director, an examination that tests the knowledge and competence of the applicant as to the applicant’s duties […]
(a) The answers of the applicant to an examination shall be written by the applicant under the director’s supervision, and the written examination may be supplemented by oral examination at the director’s discretion. (b) The director shall give examinations at the times and places that the director considers necessary to reasonably serve the convenience of […]
(a) An appointment is required to be made in accordance with this section when one or more of the following has occurred: (1) an admitted insurer appoints a managing general agent in this state or relative to a subject resident, located, or to be performed in this state; (2) a managing general agent appoints an […]
(a) An appointment under AS 21.27.100 continues in force until the appointment is terminated in writing. (b) If an insurer, reinsurer, or authorized representative discovers information showing that the appointee whose appointment was terminated has engaged in an activity identified in AS 21.27.410 during the period of the appointment, the insurer, reinsurer, or authorized representative […]
If a person has met the applicable requirements of AS 21.27.020 and 21.27.270, the director shall issue a license for one or more of the following lines of authority: (1) life insurance coverage on natural persons; in this paragraph, “life insurance coverage” (A) includes benefits of endowment and annuities; and (B) may include benefits in […]
(a) A license must be in the form the director prescribes and must set out (1) the name and address of the licensee and, if the licensee is required to have a place of business, the physical address of the place of business; (2) the type, class, and lines of authority the licensee is licensed […]
(a) A firm shall have a firm license, the scope of which includes all lines and classes of authority of each individual employee of the firm. (b) A firm may not be licensed as an insurance producer, managing general agent, reinsurance intermediary broker, reinsurance intermediary manager, surplus lines broker, or independent adjuster, or transact insurance […]
(a) The director may issue a (1) travel insurance limited producer license to a person who is appointed under AS 21.27.100 and who sells travel insurance; in this paragraph, “travel insurance” has the meaning given in AS 21.27.152; (2) title insurance limited producer license to a person whose place of business is located in this […]
(a) A person that makes, arranges, or offers travel services may transact travel insurance by offering, issuing for delivery, issuing, or renewing travel insurance to its customers on behalf of and under the direction of a person holding a travel insurance limited producer license under AS 21.27.150. (b) A person may transact travel insurance under […]
An insurance producer, managing general agent, reinsurance intermediary broker, reinsurance intermediary manager, surplus lines broker, or independent adjuster is only required to have one license inclusive of all kinds or combination of kinds or all classes or combination of classes of insurance the insurance producer, managing general agent, reinsurance intermediary broker, reinsurance intermediary manager, surplus […]
(a) In addition to any other requirements in this title, a bond required under this title or an alternative indemnity permitted under this section shall meet the following requirements: (1) it shall be continuous in form; (2) it shall remain in force until the licensee is released from liability by the director or until cancelled […]
(a) A firm may enter into an employment contract with a licensed individual to conduct business under the supervision of and in the name of the firm. The employment contract must be in writing and must specify the lines and classes of authorities of the individual and the firm. The individual and the firm shall […]
(a) In accordance with P.L. 106-102 (Gramm-Leach-Bliley Act), the director shall issue a license to a nonresident license applicant on terms that are reciprocal with those of the applicant’s home state. Notwithstanding any contrary provision of this chapter, the director may by order waive any license application requirement in this chapter to achieve reciprocity to […]
The director may issue a license authorized by this chapter to a nonresident of this state who does not have a home state if that person meets all the requirements of this chapter for that license applicable to a resident of this state applying for the same license.
(a) A person licensed under this chapter shall have and maintain at least one place of business that is physically accessible to the public in this state unless the person holds a nonresident license and principally conducts transactions in another state. However, the nonresident licensee must have at least one physically accessible place in the […]
