CSSB 87(L&C): "An Act requiring a license to sell rental car insurance."
00CS FOR SENATE BILL NO. 87(L&C) 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) motor vehicle rental agency limited producer license to a person 27 and, subject to the approval of the director, to employees of the person licensed 28 that the licensee authorizes to transact the business of insurance on the licensee's 29 behalf if, as to an employee, the licensee complies with (D) of this paragraph and 30 if the licensee 31 (A) rents to others, without operators,
01 (i) private passenger motor vehicles, including 02 passenger vans, minivans, and sport utility vehicles; or 03 (ii) cargo motor vehicles, including cargo vans, 04 pickup trucks, and trucks with a gross vehicle weight of less than 05 26,000 pounds that do not require the operator to possess a 06 commercial driver's license; 07 (B) rents motor vehicles only to persons under rental 08 agreements that do not exceed a term of 90 days; 09 (C) transacts only the following kinds of insurance: 10 (i) motor vehicle liability insurance with respect to 11 liability arising out of the use of a vehicle rented from the licensee 12 during the term of the rental agreement; 13 (ii) uninsured or underinsured motorist coverage, 14 with minimum limits described in AS 21.89.020(c) and (d) arising 15 out of the use of a vehicle rented from the licensee during the term 16 of the rental agreement; 17 (iii) insurance against medical, hospital, surgical, and 18 disability benefits to an injured person and funeral and death 19 benefits to dependents, beneficiaries, or personal representatives of 20 a deceased person if the insurance is issued as incidental coverage 21 with or supplemental to liability insurance and arises out of the use 22 of a vehicle rented from the licensee during the term of the rental 23 agreement; 24 (iv) personal effects insurance, including loss of use, 25 with respect to damage to or loss of personal property of a person 26 renting the vehicle and other vehicle occupants while that property 27 is being loaded into, transported by, or unloaded from a vehicle 28 rented from the licensee during the term of the rental agreement; 29 (v) towing and roadside assistance with respect to 30 vehicles rented from the licensee during the term of the rental 31 agreement; and
01 (vi) other insurance as may be authorized by 02 regulation by the director; 03 (D) notifies the director in writing, within 30 days of 04 employment, of the name, date of birth, social security number, location 05 of employment, and home address of an employee authorized by the 06 licensee to transact insurance on the licensee's behalf; and 07 (E) provides other information as required by the director. 08 (b) The [THE] director may waive the bond required under AS 21.27.530(5) 09 for a person licensed under this section.