3 AAC 28.566 - Discretionary powers of the director

The director may, upon written request and after an administrative hearing, issue an order to modify or suspend one or more specific provision of 3 AAC 28.550 - 3 AAC 28.599 with respect to a specific long-term care insurance policy or certificate upon a written finding that;

(1) the modification or suspension would be in the best interest of the insureds;

(2) the purposes to be achieved could not be effectively or efficiently achieved without the modification or suspension; and

(3) the modification or suspension

(A) is necessary to the development of an innovative and reasonable approach for insuring long-term care;

(B) is reasonably related to the special needs or nature of the community when the policy or certificate is to be issued to residents of a life care or continuing care retirement community or some other residential community for the elderly; or

(C) is necessary to permit long-term care insurance to be sold as part of, or in conjunction with, another insurance product.

Notes

3 AAC 28.566

Eff. 3/27/2022, Register 241, April 2022

Authority:AS 21.06.090

AS 21.53.090