(a) Any person
transacting a business of insurance who participates in the investigation,
adjustment, negotiation, or settlement of a claim shall promptly undertake the
investigation of a claim after notification of the claim is received, and shall
complete the investigation within 30 working days, unless the investigation
cannot reasonably be completed using due diligence.
(b) Unless the notification of a claim is in
the form of a suit, demand for arbitration, application for adjudication, or
other pleading, or the claim becomes the subject of such litigation within 30
working days, the person transacting the business of insurance shall give
written notification to the claimant that specifically states the need and
reasons for additional investigative time and also specifies the additional
time required to complete the investigation. That notification shall be given
no later than the 30th working day after notification of the claim is first
received.
(c) This section does not
apply to an insurance claim subject to
AS
21.36.495 or other health insurance claim for
which the insurer complies with
AS
21.36.495.
Notes
3 AAC 26.050
Eff.
5/6/89, Register 110; am 9/15/2004, Register 171; am
8/20/2016,
Register
219, October 2016
In 2010 the revisor of statutes, acting under
AS
01.05.031, redesignated former
AS
21.36.350 as
AS
21.36.125(c). As of Register
196 (January 2011), the regulations attorney made a conforming technical
revision under
AS
44.62.125(b)(6), to the
authority citation that follows 3 AAC 26.050, deleting the citation to former
AS
21.36.350 to reflect that the authority
citation already includes a citation to
AS
21.36.125, the section where material
formerly in
AS
21.36.350 was
relocated.
Authority:AS
21.06.090
AS 21.36.125
AS
21.36.495
