Section 3 AAC 30.349 - Definitions In 3 AAC 30.300 - 3 AAC 30.349,
(1) "deductible" means a provision in an insurance policy where the policyholder must absorb or pay part of the insured loss before qualifying for recovery from the insurer under the policy;(2) "excess workers' compensation policy" means a policy (A) issued by an insurer to an employer certified as a self-insurer under AS 23.30.090; and(B) that reimburses the self-insured employer for amounts (i) accepted by, imposed upon, or assumed by the employer under AS 23.30 for death, disablement, or injury to the employer's employees; and(ii) that are above either a specific or an aggregate attachment point or self-insured retention, but that do not by themselves satisfy the requirements under AS 23.30.025 or 23.30.075;(3) "loss reimbursement" means a provision in a workers' compensation policy that (A) maintains an insurer's entire obligation under the policy for payment of insured loss under AS 23.30; and (B) provides that an insured employer will reimburse the insurer under the policy for the first part of the loss subject to an agreed upon limit;(4) "loss reimbursement policy" means a workers' compensation policy containing a loss reimbursement provision, regardless of whether the loss reimbursement provision is effected by means of an endorsement to a standard workers' compensation policy. Eff. 12/20/2020, Register 236, January 2021 Authority:AS 21.06.090
AS 21.42.075
AS 21.42.030