ADDENDUM TO BULLETIN 90-3
TO: ALL SURPLUS LINES BROKERS, RESIDENT AND NONRESIDENT, LICENSED IN THE STATE OF ALASKA
RE: ELIGIBLE SURPLUS LINES INSURERS IN THE STATE OF ALASKA
Pursuant to AS 21.34.050, the Division of Insurance has reviewed the financial statements of various foreign and alien insurers. I have, under authority granted in AS 21.34.050, issued the attached list of eligible surplus lines insurers. Additional companies are under review and, if necessary, an addendum will be issued.
All surplus lines brokers are reminded that, pursuant to the surplus line law, the surplus lines brokers shall ascertain the financial condition of an insurer before placing insurance with them. The surplus lines brokers shall be held strictly accountable for the solvency and the operating standard of the companies used. Every surplus line insurer must have capital and surplus of at least $5,000,000 and a U.S. trust not less than $1.5 million.
The furnishing of this eligible list does not place any liability on the Division of Insurance, State of Alaska. The Director of the Division of Insurance reserves the right to remove a listing, acting on his own initiative and to refuse to list any company regardless of its financial condition.
Please review AS 21.34.080 at your earliest convenience. The Division of Insurance shall expect all affidavits filed to be complete and truthful. Please TAKE NOTICE that filing a false affidavit constitutes a violation of AS 21.27.410 (refusal, suspension, revocation of license) as well as criminal violation pursuant to AS 22.56.201.
Bulletin 90-3 supersedes Bulletin 89-5.
Done this 21st day of June, 1990 at Juneau, Alaska.
The following companies have been added to Bulletin 90-3, dated May 15, 1990, as an addendum:
1. Agricultural Excess and Surplus Insurance
2. Allianz International Insurance Limited
3. American Southern Insurance Company
4. Bryanston Insurance Company Limited
5. California Union Insurance Company
6. CNA Reinsurance of London Limited
7. Compagnie Europeene D’Assurance Industrielles, S.A.
8. Gotham Insurance Company
9. Interstate Fire and Casualty Company
10. Landmark Insurance Company
11. Lexington Insurance Company
12. Orion Insurance Company
13. Pacific Insurance Company Limited
14. Pohjola Insurance Company (U.K) Limited
15. Progressive American Insurance Company
16. River Thames Insurance Company Limited
17. Storebrand Insurance Company (U.K.) Limited
18. Taisho Marine and Fire Insurance Company (Europe) Limited
19. U.I.C. Insurance Company
20. Underwriters Reinsurance Company
21. Western Alliance Insurance Company
22. Wheelway Insurance Company
23. Yasuda Fire and Marine Insurance Company of Europe Limited
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Revised 08/09/99