{"id":371437,"date":"2016-04-11T01:20:58","date_gmt":"2016-04-11T06:20:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/alaska-law\/alaska-insurance-fraud-laws.html"},"modified":"2024-12-20T18:45:41","modified_gmt":"2024-12-20T23:45:41","slug":"alaska-insurance-fraud-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/alaska-law\/alaska-insurance-fraud-laws.html","title":{"rendered":"Alaska Insurance Fraud Laws"},"content":{"rendered":"\n
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Alaska Insurance Fraud Laws<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Opportunities to purchase insurance are everywhere these days. Before you put your signature on that policy or claim, it’s important that you fully understand the insurance laws in your state. Alaska insurance fraud laws are designed to protect both the insurance company as well as current and potential policy holders. This is a quick summary of insurance fraud laws in Alaska.<\/p>\n

Alaska Insurance Fraud Laws<\/h2>\n

The following table outlines the specifics of Alaska insurance fraud laws.<\/p>\n\n
Code Sections<\/b><\/td>\n

Alaska Stat. \u00a7 21.36.360<\/a> Fraudulent Insurance Acts<\/p>\n<\/td>\n<\/tr>

Parties Governed by this Section<\/b><\/p>\n<\/td>\n

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  • Insurance Companies<\/p>\n<\/li>\n

  • Insurance Policy Holders<\/p>\n<\/li>\n

  • Applicants for Insurance<\/p>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>

Intent to Injure, Defraud, or Deceive<\/b><\/p>\n<\/td>\n

Alaska insurance fraud law considers most acts performed with the intent to injure, defraud, or deceive by any of the above parties as "fraudulent insurance acts." An insurance company can also violate the statute by overcharging premiums or failing to provide insurance that a policy holder paid for.<\/p>\n<\/td>\n<\/tr>

Sworn Statements<\/b><\/p>\n<\/td>\n

If during an examination of a matter material to the claim the policy holder knowingly provides a false sworn statement or provides two irreconcilably inconsistent, sworn statements, then the policy holder commits a fraudulent insurance act.<\/p>\n<\/td>\n<\/tr>

Unlicensed\/Fraudulent Companies<\/b><\/p>\n<\/td>\n

Insurance companies, their agents, and brokers that fail to acquire proper licensing or that operate fraudulently can be prosecuted under this section of the Alaska insurance fraud laws.<\/p>\n<\/td>\n<\/tr>

Forged Documentation<\/b><\/p>\n<\/td>\n

Any person who falsely alters a certificate of insurance, knowingly possesses a forged certificate of insurance, or knowingly issues a forged certificate of insurance commits a fraudulent insurance act.<\/p>\n<\/td>\n<\/tr>

Penalties<\/b><\/p>\n<\/td>\n

Class B Felonies<\/u>: punishable by up to 10 years in prison, up to $100,000 in fines, or both. Fraudulent insurance acts that fall under this section include:<\/p>\n