Clarification and Correction to Bulletins B 16-08 and B 16-09

GOV ERNOR BlLL WALKER Department of Commerce, Community, and Economic Development DlVISION OF INSURANCE 550 West Seventh Avenue. Suite 1560 Anchorage. AK 99501-3567 Main: 907.269.7900 Fax: 907.269.7910 BULLETIN 16-10 TO: ALL LICENSEES AND REGISTRANTS IN THE STATE OF ALASKA AND OTHER INTERESTED PARTIES, AND ALL INSURANCE LICENSEES WHO HOLD SURETY AS A LINE OF AUTHORITY AND OTHER INTERESTED PARTIES RE: CLARIFICATION AND CORRECTION TO BULLETINS B 16-08 ANDB 16-09 Bulletins B 16-08 and B 16-09 informed readers that due to the passage of SCS CSHB 372 {L&C). the division would be repealing the surety line of authority {LOA) effective 10/16/2016. The effective date in the legislation for the repeal of the surety LOA is 03/01/2017 and not 10116/2016. The State of Alaska will no longer offer surety as an LOA effective 03/01/2017. The state also will no longer offer crop insurance as an LOA effective 03/0 1/2017, however, on that date the state will be offering crop insurance as a limited lines license. Bulletins B 16-08 and B 16-09, and this bulletin, apply only to licensees or registrants under AS 21.27. Note, the legislation does not affect the lines of authority an admitted insurer is authorized to write in the state. If you have questions regarding the information in this bulletin, please contact the division at insurance@alaska.gov or at the following addresses: Alaska Division of Insurance P .0. Box 110805 Juneau, AK 99811-0805 (907) 465-2515 Dated October ~ 2016 Alaska Division of Insurance 550 West Seventh Avenue, Suite 1560 Anchorage, AK 99501-3567 {907) 269-7900 Cll!lJl Lgri Wing-Heier flirector