Alaska Gov. Signs Insurance Modernization Bills

JUNEAU, Alaska, May 23 -- Gov. Sean Parnell, R-Alaska, has issued the following news release:

Governor Sean Parnell today signed two pieces of legislation designed to streamline and modernize insurance laws in Alaska.

"I thank Representative Kurt Olson for sponsoring legislation that will help Alaskans and Alaska small business owners," Governor Parnell said. "These bills will increase transparency and improve efficiency for Alaskans."

House Bill 175, sponsored by Representative Kurt Olson, modernizes the way property and casualty insurers are permitted to conduct business in Alaska. The new law allows insurers to provide policies insured in three ways -- by mailing them, delivering them, or if the insurer agrees, by posting the policies and endorsements on the insurer's website.

House Bill 168, also sponsored by Representative Olson, clarifies the definition of travel insurance and seller qualifications, easing the regulatory burdens for Alaska's travel agents and providing better protections for Alaska consumers.

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