SB 87: "An Act requiring a license to sell rental car insurance."
00SENATE BILL NO. 87 01 "An Act requiring a license to sell rental car insurance." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 21.27.060(d) is amended to read: 04 (d) This section does not apply to an applicant 05 (1) for a limited license under AS 21.27.150(a)(1) [AS 21.27.150(1)], 06 (2), [OR] (6) , or (7) ; 07 (2) who, at any time within the two-year period immediately preceding 08 the date the current pending application is received by the division, had been licensed 09 in good standing in this state under a license requiring substantially similar 10 qualifications as required by the license applied for; or 11 (3) whose license in its resident jurisdiction requires the same 12 qualifications as the license applied for in this state if the license in all jurisdictions 13 is in good standing. 14 * Sec. 2. AS 21.27.150 is amended to read:
01 Sec. 21.27.150. Limited licenses. (a) The director may issue a 02 (1) travel insurance limited producer license to a person whose place 03 of business is located in this state, who sells transportation tickets of a common carrier 04 of persons or property, who is appointed under AS 21.27.100, and whose sole purpose 05 is to be appointed by and [TO] act as an agent for transportation ticket policies of 06 health insurance, baggage insurance on personal effects, and trip cancellation or trip 07 interruption insurance; 08 (2) health insurance limited producer license to a resident of this state 09 whose sole purpose is to be appointed by and act as an agent for health insurance 10 pertaining to sports and recreation; 11 (3) title insurance limited producer license to a person whose place of 12 business is located in this state and whose sole purpose is to be appointed by and act 13 on behalf of a title insurer; 14 (4) bail bond limited producer license to a person whose place of 15 business is located in this state and whose sole purpose is to be appointed by and act 16 on behalf of a surety insurer pertaining to bail bonds; 17 (5) fraternal benefit society limited producer license to a person whose 18 sole purpose is to be appointed by and [TO] act on behalf of a fraternal benefit society 19 licensed under AS 21.84; 20 (6) retired insurance producer license to a resident who is retired or 21 retiring from the business of insurance and surrenders all in-force licenses to allow the 22 person to receive a continuing commission in regard to insurance transacted before 23 retirement; a retired insurance producer licensee may not solicit, induce, negotiate, or 24 effectuate contracts of insurance; the director may renew a retired insurance producer 25 license if the licensee ceases to be a resident of this state; 26 (7) rental motor vehicle limited producer license that covers the 27 person and the person's employees if the person 28 (A) is a firm with a rental office and place of business in 29 this state; 30 (B) does not rent a vehicle that requires a commercial 31 driver's license to operate;
01 (C) rents motor vehicles only to an individual under a rental 02 agreement that does not exceed a term of 90 days; 03 (D) transacts only the following kinds of insurance for rental 04 motor vehicles: 05 (i) personal accident insurance covering risks of 06 travel; 07 (ii) liability insurance, including uninsured or 08 underinsured motor vehicle coverage, with minimum limits 09 described in AS 21.89.020(c) and (d); 10 (iii) personal effects insurance; 11 (iv) roadside assistance and emergency illness 12 protection; or 13 (v) other rental motor vehicle coverage approved by 14 the director by regulation; 15 (E) maintains a list of employees who are transacting the 16 business of insurance under the authority of this paragraph; and 17 (F) provides other information as required by the director. 18 (b) The [THE] director may waive the bond required under AS 21.27.530(5) 19 for a person licensed under this section.