Section 3 AAC 26.899 - DefinitionsIn 3 AAC 26.875 - 3 AAC 26.899,
(1) "convenience fee" means a fee (A) charged by a third-party vendor or payment processor; and(B) associated with a premium payment transaction;(2) "payment plan" means an arrangement or plan by which an insurer offers its policyholders an alternative to advance payment of the entire premium;(3) "payment method" means the way in which a policyholder pays the policyholder's premium, including electronic fiind transfers, automated clearing house (ACH) transactions, direct billing, cash, checks, a credit, charge, or debit card, or a third-party payment processor; (4) "premium payment transaction" means a payment made in consideration for insurance, including a payment related to acquiring, issuing, maintaining, modifying, servicing, or reinstating a policy;(5) "rate" and "rate filing" includes (A) a loss cost adjustment; and(B) a loss cost adjustment filing. Eff. 12/20/2020, Register 236, January 2021