Legislature(1999 - 2000)

04/15/2000 02:50 PM L&C

Audio Topic
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
txt
           HB 310-ALASKA INSURANCE GUARANTY ASSOCIATION                                                                     
                                                                                                                                
CHAIRMAN MACKIE announced HB 310 to be up for consideration.                                                                    
                                                                                                                                
MS. JANET  SEITZ, staff  to Representative  Rokeberg, sponsor  of HB
310, informed  committee members this legislation  was introduced at                                                            
the request  of the Alaska Insurance  Guaranty Association.   HB 310                                                            
provides a mechanism to  protect policy holders and claimants in the                                                            
event  that  a property  and  liability  insurer  licensed  to  sell                                                            
policies in Alaska becomes  insolvent.  It updates the Alaska Act to                                                            
bring  it into conformance  with  the 1996 National  Association  of                                                            
Insurance  Commissioners'  Post Assessment  Property  and  Liability                                                            
Insurance Guaranty Model Act.                                                                                                   
                                                                                                                                
SENATOR  LEMAN  asked if  Section  2 applies  to  fraternal  benefit                                                            
societies.                                                                                                                      
                                                                                                                                
MR. DON  THOMAS, Executive  Director of the  Alaska Life and  Health                                                            
Guaranty  Association,   said  it   does  not  apply  to   fraternal                                                            
organizations.                                                                                                                  
                                                                                                                                
SENATOR LEMAN  noted that  fraternal societies  are not included  in                                                            
the list of excluded organizations.                                                                                             
                                                                                                                                
MR. THOMAS replied he was  told they are not admitted members of the                                                            
Association.                                                                                                                    
                                                                                                                                
There being no  further questions or testimony, SENATOR  LEMAN moved                                                            
to report HB 310 from committee  with individual recommendations and                                                            
its accompanying  zero fiscal note.   There being no objection,  the                                                            
motion carried.                                                                                                                 

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