(a) Workers’ compensation insurance may be placed in and written by a nonadmitted insurer if

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Terms Used In Alaska Statutes 21.34.030

(1) the director considers it in the best interest of the public and issues an order to that effect;
(2) the insurance is written in accordance with this chapter; and
(3) all conditions established for writing workers’ compensation insurance in a nonadmitted market receive compliance.
(b) The rates and rating plans for workers’ compensation insurance are subject to Alaska Stat. Chapter 21.39. The surplus lines broker is responsible for making the filings required under Alaska Stat. Chapter 21.39 and for maintaining the records required in that chapter.
(c) Insurance placed or written in a nonadmitted insurer and the activities of the surplus lines broker relating to that transaction are subject to the applicable provision of this title.
(d) The minimum capital and surplus required is two times that required in Alaska Stat. § 21.34.040(c)(1).
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