Section 3 AAC 30.330 - Reimbursement limits and aggregates(a) An insurer shall specify in a loss reimbursement policy the (1) nature of losses for which an employer must reimburse the insurer; and(2) basis of the reimbursement limit. (b) An insurer may limit the aggregate amount that an employer must reimburse the insurer because of the aggregation of all of the claims arising during the policy period if the aggregate limitation is included in the same policy.(c) If an insurer includes an aggregate limitation in a loss reimbursement policy, the insurer shall also include in the policy a provision providing for the proration of the aggregate limits if the insurer cancels the policy, unless (1) the aggregate limits are a function of the audited exposure; or(2) the insurer cancels the policy (A) because of nonpayment of premium; or(B) for a reason set out in AS 21.36.220(b) and associated with the 10-day notice of cancellation requirement. (d) An employer contracting with an insurer in a loss reimbursement policy may not obtain insurance to cover the amounts the employer agreed to reimburse the insurer under the policy. Eff. 12/20/2020, Register 236, January 2021 Authority:AS 21.06.090
AS 21.36.220
AS 21.42.075