Section 3.29.545. 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.  

Authorities

21.06.090;21.39.040;21.42.120

Notes

Reference

3 AAC 29.500
3 AAC 29.510
3 AAC 29.530
3 AAC 29.540

Authority

AS 21.06.090 AS 21.39.040 AS 21.42.120

History

Eff. 6/11/2005, Register 174