In addition to the general qualifications under AS 21.27.020, the director may require that a reinsurance intermediary broker maintain (1) a bond in an amount acceptable to the director in favor of insurers and this state that requires the reinsurance intermediary broker to conduct business under this title; and (2) an errors and omissions insurance […]
(a) Except as provided in (b) of this section, an insurer may not transact business with a reinsurance intermediary broker unless the insurer holds a certificate of authority in this state, the reinsurance intermediary broker is licensed in this state, and there is in effect a written contract between the parties that establishes the responsibilities […]
In addition to any other records requirements under this title, a reinsurance intermediary broker shall maintain in organized form a record of each transaction including (1) the type of contract, limits, underwriting restrictions, classes or risks, and territory; (2) the period of coverage, including effective and expiration dates, cancellation provisions, and required notice of cancellation; […]
