(a) An insurer shall pay to the division $100 for each day the insurer fails to file a report, and $1,000 for each day the insurer fails to file a plan or revised plan in conformance with the requirements of this chapter.
(b) If a report, plan, or revised plan has not been filed in conformance with the requirements of this chapter, the director may, as provided
(1) under AS 21.09.150, AS 21.84.535, AS 21.86.190, or AS 21.87.110, as applicable to a particular insurer, suspend the authority of an insurer to enter into new obligations or issue a new or renewal policy of insurance in this state; or
(2) under AS 21.34.070, declare a surplus lines insurer ineligible to transact business in this state.
Structure Alaska Statutes
Chapter 14. Risk Based Capital for Insurers
Sec. 21.14.010. Risk based capital reports.
Sec. 21.14.015. Other powers and duties not limited.
Sec. 21.14.020. Company action level event.
Sec. 21.14.030. Regulatory action level event.
Sec. 21.14.040. Authorized control level event.
Sec. 21.14.050. Mandatory control level event.
Sec. 21.14.060. Risk based capital plan.
Sec. 21.14.070. Foreign insurers.
Sec. 21.14.090. Confidentiality; restrictions on use.