3 AAC 29.545 - Exempt commercial policyholder

For purposes of 3 AAC 29.500 - 3 AAC 29.550, an exempt commercial policyholder is an entity that has sufficient insurance buying expertise to negotiate with insurers in a largely unregulated environment and that meets any two of the following criteria:

(1) has net worth of over $30 million;

(2) has net revenues or sales of over $75 million;

(3) has more than 300 employees per individual company or 800 per holding company aggregate;

(4) procures its insurance through use of a risk manager, employed or retained;

(5) collects annual aggregate premiums of over $250,000;

(6) is a nonprofit or public entity with an annual budget or assets of at least $30 million;

(7) is a municipality with a population of over 25,000.

Notes

3 AAC 29.545

Eff. 6/11/2005, Register 174

Authority:AS 21.06.090

AS 21.39.040

AS 21.42.120