In addition to the general qualifications under AS 21.27.020, the director may require that a managing general agent maintain (1) a bond in an amount acceptable to the director and that requires the managing general agent to conduct business under this title; and (2) an errors and omissions insurance policy acceptable to the director.
A managing general agent has only the authority consistent with this title that is conferred by an admitted insurer. A managing general agent, resident or nonresident, qualified and licensed under this chapter, may exercise the powers conferred by this title upon insurance producers and independent adjusters only for the kinds or classes of insurance and […]
(a) An insurer may not transact business with a managing general agent unless (1) the insurer holds a certificate of authority in this state; (2) the managing general agent is licensed under this chapter or has filed a certification with the director certifying that the managing general agent is operating only for a foreign insurer […]
