Alaska Director of Insurance

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Alaska Director of Insurance
General information
Office Type:  Non-partisan
Office website:  Official Link
2014 FY Budget:  $7,541,300
Term limits:  None
Structure
Length of term:   Serves at pleasure of the commissioner of commerce, community, and economic development
Authority:  Alaska Statutes, Title 21, Chapter 6, Section 10
Selection Method:  Appointed by commissioner of commerce, community, and economic development
Current Officeholder

Bret Kolb.jpg
Name:  Bret S. Kolb
Officeholder Party:  Nonpartisan
Assumed office:  May 29, 2012
Compensation:  $61,176
Other Alaska Executive Offices
GovernorLieutenant GovernorAttorney GeneralComptrollerEducation CommissionerRevenue CommissionerAgriculture DirectorInsurance DirectorNatural Resources CommissionerLabor CommissionerRegulatory Commission
The Alaska Director of Insurance is a state executive position in the Alaska state government. He or she oversees the Division of Insurance, a subdivision of the Alaska Department of Commerce, Community, and Economic Development. The Division of Insurance is responsible for establishing and enforcing regulations of the insurance industry in Alaska.

Current officeholder

The current director of insurance is Bret S. Kolb. Kolb was appointed on May 29, 2012, to replace Linda Hall.[1]

Authority

The authority of the director of insurance derives from statute, which states that the director of the Division of Insurance is appointed by the commissioner of commerce, community, and economic development.[2]

Alaska Statutes, Title 21, Chapter 6, Section 10

The commissioner of commerce, community, and economic development shall appoint the director, division of insurance, Department of Commerce, Community, and Economic Development. The director serves at the pleasure of the commissioner.

Qualifications

State law does not require any particular qualifications of the director of insurance.

Appointments

The director is appointed by the commissioner of commerce, community, and economic development.[2]

Term limits

There are no term limits specified for the director of insurance.

Vacancies

Alaska law does not prescribe any particular procedure for dealing with vacancies. It is the commissioner of commerce, community, and economic development's responsibility to appoint a new director.

Duties

The mission of the Division of Insurance is to "assure competitive, viable, ethical, and lawful insurance is available to all Alaskans." The division licenses insurance providers, adjusters and brokers and examines their records to ensure compliance. It also produces educational materials for consumers and annual reports on insurance companies operating in the state. The director and his office are empowered to establish regulations, such as limitation of risk, to ensure the financial health of insurance companies and supervise their business practices. Some of the regulations the Division of Insurance enforces are established by the legislature itself, which are outlined in Title 21 of the Alaska Statutes.

Additionally, the director plays an important role in the Alaska government's reaction to natural disasters by determining whether a catastrophe has occurred for insurance purposes. He or she may also take extraordinary measures to license insurance adjusters, etc., to ensure companies speedily address and pay out claims following a disaster.

Divisions

Click here to view larger-scale image of the Alaska Division of Insurance's organizational chart as of February 21, 2013.

The Director of Insurance heads the Insurance Division within the Department of Commerce, Community and Economic Development. The Division subdivides into these sections:

  • Administrative
  • Investigation
  • Consumer Services
  • Licensing
  • Actuarial, Filings Review and Market Regulation
  • Financial[3]

State budget

The budget for the Division of Insurance in Fiscal Year 2014 is $7,541,300.[4]

Compensation

See also: Compensation of state executive officers

In 2013, the Alaska Director of Insurance was paid an estimated $61,176. This figure comes from the Council of State Governments.

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Alaska Director of Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

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Alaska Director of Insurance News Feed

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Contact info

Alaska

Address:
333 Willoughby Avenue, 9th Floor
Juneau, AK 99811
Phone: (907) 465-2515
Fax: (907) 465-3422

See also

External links

References