BULLETIN B96-11

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.

Alaska requires an unimpaired basic capital and additional surplus equal to that required in its domiciliary jurisdiction or $15,000,000, whichever is greater. Alien insurers, other than alien mutual protection and indemnity associations, must have a U.S. trust fund of not less than $2,500,000 or as determined in AS 21.34.040.

All surplus lines brokers are reminded that, pursuant to the surplus lines law, the surplus lines broker shall ascertain the financial condition of an insurer before placing insurance with them.

The furnishing of this eligible list does not place any liability on the State of Alaska, Division of Insurance. The Director of the Division of Insurance reserves the right to remove a listing, acting on her own initiative, and to refuse to list any company regardless of its financial condition.

Please review AS 21.34.080 at your convenience. The Division of Insurance expects all reports and affidavits filed under AS 21.34.080 to be complete and truthful. Please take notice that filing a false document with this division under this provision constitutes a violation of AS 21.27.410 (refusal, suspension, revocation of license) and may be a criminal violation under AS 11.56.201.

Bulletin B96-11 supersedes Bulletin B96-01.

Done this 21st day of October 1996, at Juneau, Alaska.