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Session: State Capitol, Room 24 Juneau, AK 99801-1182 Toll Free: (800) 773-4968 Phone: (907) 465-4968 Fax: (907) 465-2040 Send E-Mail Interim: 716 W 4th, Suite 640 Anchorage, AK 99501-2133 Phone: (907) 269-0117 Fax: (907) 269-0119 |
Bill Updates Alaska Insurance Guaranty Association Act
| For Immediate Release: March 23, 2000 | |
| Contact: | Representative Norman Rokeberg at (907) 465-4968. |
Juneau -- The Alaska House of Representatives Wednesday passed House Bill 310, sponsored by the House Labor and Commerce Committee.
The Alaska Insurance Guaranty Association (AIGA) protects the public in the event a property or casualty insurer becomes insolvent. The Association pays policyholders and claimants if the insurance company fails.
HB 310 updates AIGA statutes to conform to new model legislation proposed by the National Association of Insurance Commissioners.
"Updating the Alaska Insurance Guaranty Association Act makes it better suited to meet its intended purpose of protecting Alaska policyholders and claimants," said Representative Norman Rokeberg (R-Anchorage), Chair of the House Labor and Commerce Committee. "Updating the act to comply with the model act provides the added benefit of uniformity among the states, which are responsible for regulation of the insurance industry nationwide."
HB 310 passed the House unanimously.
Broadcasters note: Audio comments are available on the Majority Actuality line, 1-800-478-6540
= Norman Rokeberg, 126 K