(a) Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters' policy bearing their names. Any one insurer may issue policies in the name of an underwriter's department and the policy must plainly show the true name of the insurer.
(b) Two or more insurers may, with the approval of the director, issue a combination policy which shall contain provisions substantially as follows:
(1) that the insurers executing the policy shall be severally liable for the full amount of loss or damage, according to the terms of the policy, or for specified percentages or amounts thereof, aggregating the full amount of insurance under the policy; and
(2) that service of process, or of notice or proof of loss required by the policy, upon any of the insurers executing the policy, constitutes service upon all the insurers.
(c) This section does not apply to cosurety obligations.
Structure Alaska Statutes
Chapter 42. The Insurance Contract
Article 1. The Insurance Contract.
Sec. 21.42.010. Applicability.
Sec. 21.42.020. Insurable interest: life, annuity, or health.
Sec. 21.42.030. Insurable interest: property.
Sec. 21.42.040. Interest of named insured.
Sec. 21.42.050. Change of interest on death.
Sec. 21.42.060. Transfer of interest between joint insureds.
Sec. 21.42.070. Insurance without interest, or of wager, is void.
Sec. 21.42.075. Reimbursement of losses.
Sec. 21.42.080. Capacity to contract.
Sec. 21.42.090. Application required, life and health insurance.
Sec. 21.42.100. Request for copy of application; alteration.
Sec. 21.42.110. Representations in applications.
Sec. 21.42.120. Filing, approval of forms.
Sec. 21.42.123. Form filing subject to prior approval.
Sec. 21.42.125. Form filing subject to file and use; penalties.
Sec. 21.42.130. Grounds for disapproval.
Sec. 21.42.140. Standard provisions.
Sec. 21.42.145. Stop-loss insurance provisions.
Sec. 21.42.150. Policy must contain entire contract.
Sec. 21.42.160. Contents of policies in general.
Sec. 21.42.170. Additional policy contents.
Sec. 21.42.175. Non-English translations.
Sec. 21.42.180. Charter, bylaw provisions.
Sec. 21.42.190. Execution of policies.
Sec. 21.42.200. Underwriters' and combination policies.
Sec. 21.42.205. Coordination of benefits.
Sec. 21.42.210. Interest in reinsurance.
Sec. 21.42.220. Validity of noncomplying forms.
Sec. 21.42.230. Construction of policies.
Sec. 21.42.250. Delivery or posting of policy; notifications.
Sec. 21.42.260. Renewal by certificate.
Sec. 21.42.265. Effective date of coverage.
Sec. 21.42.270. Assignment of policies.
Sec. 21.42.280. Payment discharges insurer.
Sec. 21.42.290. Minor may give acquittance.
Sec. 21.42.300. Forms for proof of loss to be furnished.