Alaska Issues Bulletin On Regulations Modifying Surplus Lines Requirements

Carlton Fields
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Alaska’s Division of Insurance has released a bulletin notifying licensees, surplus lines insurance companies in the State of Alaska, and other interested parties that it has adopted regulations modifying surplus lines requirements to conform to Alaska statutory changes due to the federal Nonadmitted and Reinsurance Reform Act of 2010. The regulations include modifications to diligent search requirements, additional requirements for the notice of nonrenewal and premium increases, and additional fees for certain licenses. All affected parties must comply with the new requirements as of September 4, 2014, the effective date of the regulations. Alaska Ins. Bulletin No. 14-05 (Aug. 13, 2014).

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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