3 AAC 29.355 - Cancellation and nonrenewal
(a) For purposes of
AS
21.36.210-21.36.290, if an employer,
association, organization, or other group for any reason, including
interruption or termination of employment or membership, fails to remit the
premiums when due, the insurer may not regard this as nonpayment of premium by
the insured unless
(1) the group-marketed
plan provides for the payment of the premium by the employer, association,
organization, or other group;
(2)
the insured is given written notice of the failure to remit the premium;
and
(3) the insured has not paid
the premium within 20 days after the written notice is sent or the date the
premium is due under the group-marketed plan, whichever is later.
(b) A group-marketed plan must
provide that, upon termination of employment or membership or termination of
the group-marketed plan, the insured may maintain the existing policy in force
until the next expiration date for the policy.
Notes
Authority:AS 21.06.090
AS 21.36.210
AS 21.36.220
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