Addendum to Bulletin 92-2
To: All Insurers and Interested Parties
Re: Correction of Requirements for Maintenance of Minimum Capital and Surplus
Bulletin 92-2 issued June 5, 1992, discussed the calculation of minimum capital and surplus amounts required by statute to maintain an Alaska certificate of authority. Alaska Statute (AS) 21.09.070(b) states that
This language requires that capital and surplus minimum amounts must be calculated based on the authorized lines of insurance granted by the insurer's domestic state. The lines of authority granted by this state do not determine the total capital and total surplus required under AS 21.09.070.
This supersedes language included in Bulletin 92-2 regarding calculation of minimum capital and surplus amounts required under AS 21.09.070.
Dated: February 14, 1995