Sec. 21.39.100. Advisory organizations.
306 words·~1 min read·
/ak/title-21/chapter-39/21-39-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 21.39.100. Advisory organizations.
(a)Each group, association or other organization of insurers, whether located inside or outside this state, that assists insurers that make their own filings or rating organizations in rate making by the collection and furnishing of loss or expense statistics or by the submission of recommendations, but that does not make filings under this chapter, shall be known as an advisory organization.
(b)Each advisory organization shall file with the director
(1)a copy of its constitution, its articles of agreement or association, or its certificate of incorporation and of its bylaws and regulations governing its activities;
(2)a list of its members;
(3)the name and address of a resident of this state upon whom notices or orders of the director or process issued at the direction of the director may be served; and
(4)an agreement that the director may examine the advisory organization in accordance with AS 21.39.120 .
(c)If, after a hearing, the director finds that the furnishing of the information or assistance involves an act or practice that is unfair or unreasonable or otherwise inconsistent with this chapter, the director may issue a written order specifying in what respects the act or practice is unfair or unreasonable or otherwise inconsistent with this chapter, and requiring the discontinuance of the act or practice.
(d)An insurer that makes its own filings and a rating organization may not support its filings by statistics or adopt rate making recommendations, furnished to it by an advisory organization that has not complied with this section or with an order of the director involving the statistics or recommendations issued under
(c)of this section. If the director finds the insurer or rating organization to be in violation of this subsection the director may issue an order requiring the discontinuance of the violation.