BULLETIN 94-12

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 line 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 his 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 shall expect all affidavits filed to be complete and truthful. Please take notice that filing a false affidavit constitutes a violation of AS 21.27.410 (refusal, suspension, revocation of license) as well as criminal violation pursuant to AS 11.56.201.

Bulletin B94-12 supersedes Bulletin B94-07.

Done this 15th day of December 1994, at Juneau, Alaska.

ELIGIBLE SURPLUS LINES INSURERS

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Revised 08/09/99