(a) The director shall, by regulation, provide a general plan for the implementation of cooperative insurance coverage limited to the risks defined in AS 21.75.330. (b) The regulations adopted under (a) of this section must include (1) procedures whereby not less than the number of persons required by AS 21.75.060(a) to organize a domestic reciprocal […]
If the director is satisfied that the plan of insurance and other information provided by petitioners under AS 21.75.300 permits a sound insurance operation and complies with all other applicable requirements for a certificate of authority, the director shall issue a certificate of authority to the insurer.
Except as otherwise specifically provided, the provisions of AS 21.75.010 – 21.75.270 and 21.75.900(2) and (3) are applicable to cooperative insurers.
(a) A cooperative insurer organized under AS 21.75.300 is authorized to transact only property insurance, limited to physical damage of (1) licensed private passenger motor vehicles; (2) single-family residences, and related structures; (3) multiple dwellings of not more than four-family units if at least one unit is owner-occupied, and related structures; (4) mobile homes; (5) […]
