Section 3.28.355. Limitations on compensation.

	(a)  An insurer selling a credit life insurance policy that has been filed and approved at rates higher than the prima facie rates may not pay an insurance producer compensation in excess of 30 percent of the net written prima facie premium established in 3 AAC 28.340. Compensation is not limited on a policy written at or below the prima facie rate.  
	(b)  An insurer selling a credit disability insurance policy that has been filed and approved at a rate higher than the prima facie rate may not pay an insurance producer compensation in excess of the prima facie rate multiplied by the percentages given in the table below. Compensation is not limited on a policy written at or below the prima facie rate.  
    Type of Plan                     Percent of Prima Facie Premium
    14-day retroactive                             26
    14-day non-retroactive                         28
    30-day retroactive                             30
    30-day non-retroactive                         34
	(c)  An insurer may not pay insurance producer compensation in excess of 30 percent of the premium charged for a credit unemployment insurance policy.  

Authorities

21.06.090;21.57.080;21.57.130

Notes

Authority

AS 21.06.090 AS 21.57.080 AS 21.57.130

History

Eff. 6/6/93, Register 126; am 7/2/2001, Register 158