An insurer shall pay $1,000 for each day the insurer fails to file the report within the time required in AS 21.23.030(a), not to exceed $365,000. The director may reduce the penalty under this section if the insurer demonstrates to the director that the imposition of the penalty is a financial hardship to the insurer.
Structure Alaska Statutes
Chapter 23. Risk Management; Own Risk and Solvency Assessment
Sec. 21.23.010. Risk management framework.
Sec. 21.23.020. Own risk and solvency assessment requirement.
Sec. 21.23.030. Own risk and solvency assessment summary report.
Sec. 21.23.050. Contents of own risk and solvency assessment summary report.