Alaska Insurance Guaranty Association

“Alaska insurance guaranty association assigned some management duties to northern adjusters, inc under a contract for administration as allowed under the governing statute. The contract is reviewed annually by the board and identified the levels of assigned authority.”

“This is a membership organization. Each insurer licensed to transact the kinds of insurance covered by as 21.80 and who writes such insurance shall automatically be deemed a member of the association. Membership shall be effective on the date the insurer meets the statutory definition of 'member insurer'.”

“The board consists of nine members; seven are elected by member insurers, two are public appointees by the division of inurance.”

“A copy of the return is reviewed by the current aiga chairperson prior to filing. There is no written process for reviewing the form 990.”

“Conflict of interest policy is contained within annual board meeting binder, delivered to the director of the division of insurance.”

“Each representative of aiga reviews and acknowledges the conflict of interest policy by annually signing a copy of the policy. Any possible conflict of interest in the part of those covered by the policy must be disclosed and made a matter of record when the interest becomes subject to and requires some action. Any person having a possible conflict of interest on a matter shall not vote, take action, or advocate a position to others on the matter. The minutes of meetings involving conflict of interest issues shall reflect any conflict disclosure and the abstention from voting. Any instance of noncompliance with the policy shall be promptly reported to the board.”

“The organization's governing documents are available for viewing on ncigf website.”

“Each member of the board is a representative of the elected member insurer or an appointee with their own address. The address for the aiga is the northern adjusters, inc.”

“The purpose of the alaska insurance guaranty association is to provide a mechanism for the payment of covered claims under certain insurance polices to avoid excessive delay in payment and, to the extent provided under the alaska insurance guaranty act, to minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to provide an association to assess the costs of this protection among insurers.”