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Representations and Warranties Insurance in Alaska

For an Alaska corporation, a sale of all or substantially all assets outside its usual business requires board and shareholder action, including a two-thirds vote and at least 20 days’ written notice; a controlled buyer can trigger a 90% vote, subject to a stock-consideration exception. Alaska separately routes covered entity mergers under AS 10.55, so identify the transaction form and surviving entity before aligning the purchase agreement, indemnity, and policy schedule. 1,2

What Is Representations And Warranties?

Representations and warranties insurance can cover a buyer’s or seller’s loss from inaccurate statements in a stock or asset purchase agreement. For a business sale, check who is insured, who can recover and how known issues are treated. Read the national Representations and warranties guide.

What to Watch for in Alaska

  • Asset Sale Vote

    AS 10.06.568 covers an out-of-course disposition of all or substantially all corporate assets, and AS 10.06.570 generally requires approval by two-thirds of outstanding shares after at least 20 days’ written notice. Ask deal counsel to confirm the seller’s asset-sale authority and have the broker review the same approved transaction description. 1,2

  • Controlled Buyer Threshold

    When the asset buyer controls, or is under common control with, the seller, AS 10.06.570(b) raises approval to 90% of outstanding shares unless the sale is to a corporation for nonredeemable common shares of the buyer or its parent. If your deal uses a related buyer, verify the exact ownership and consideration against the approval record before relying on seller authority representations. 1

  • Merger Route And Survivor

    AS 10.06.595 says the asset-disposition provisions in §§10.06.566 and .568 do not apply to covered mergers under AS 10.55; §10.55.206 vests merging entities’ liabilities in the survivor. Ask the broker to identify every merging entity and the survivor in the quote and policy schedule, then compare those names with the agreement’s liability and indemnity provisions. 1

Who Regulates Insurance in Alaska

Alaska Division of Insurance

The Alaska Division of Insurance regulates insurers and insurance licensees, provides company and licensee searches, and investigates insurance complaints within its authority. Its consumer-services section handles disputes involving claims, cancellations, premium refunds, agents, and insurers. 3,4,5

Surplus-lines tax and stamping office

Reported tax rate: 2.7% of gross premium less returns plus 1% filing fee; wet marine: 0.75%, no fee For covered property and casualty surplus-lines risks, Alaska lists a 2.7% tax and a separate 1% filing fee on gross premium less returned premium. Qualifying wet-marine and transportation policies instead carry a 0.75% tax on gross premium and no filing fee; risks of state or local government and certain interstate aircraft are exempt from both tax and fee. A multistate placement is regulated under the insured’s home-state rules, and Alaska says to evaluate each policy’s home state separately. 7,6,8,9

  • Alaska has a placement-list exception: If a risk appears on Alaska’s surplus-lines placement list, the Division says the broker does not have to canvass admitted insurers for declinations before placement; the broker must document the applicable list entry. 6
  • Alaska has limited tax and search exceptions: The Division says qualifying wet-marine and transportation policies need no diligent search and pay no 1% filing fee. Tax and filing fees also do not apply to state or political-subdivision risks or qualifying interstate aircraft, although other placement requirements remain. 10

Providers With Documented State Licenses

These providers publish a national listing for Representations and warranties; the state records document licenses for the entities and roles shown below. Some records rely on company-reported information rather than independent regulator verification. A national listing does not confirm the product is available in Alaska. Check the regulator’s license lookup and confirm state availability for your business when requesting a quote.

  • CorgiCorgi Insurance Services, Inc.Insurance producer · checked 2026-09-28Corgi’s company producer-license table lists 50 jurisdictions: 49 states and the District of Columbia, including DC license 3003091619. New Mexico does not appear in the table and is not included here; the omission does not establish that Corgi is unlicensed there. The company-reported table has no stated as-of date and does not establish product availability. 13

Questions to Ask Before You Buy in Alaska

  1. Is the target an Alaska corporation, and does counsel classify this as an AS 10.06 asset disposition or an AS 10.55 merger?
  2. For a controlled-buyer asset sale, which fact supports the 90% vote rule or its stated stock-consideration exception?
  3. Which target, merging entities, and survivor will the quote name, and how do those names match the purchase agreement?
  4. Does the proposed R&W policy treat seller indemnity, escrow, and any buyer recovery as offsets, exclusions, or separate obligations?

Representations And Warranties in Alaska: FAQ

Does an Alaska corporation need shareholder approval to sell substantially all of its assets? 1

Yes, if the disposition is outside the usual and regular course of business: the board must recommend it and shareholders generally must approve it by two-thirds, with at least 20 days’ written notice. A controlled buyer can face the separate 90% rule and its statutory stock-consideration exception. 1

Who takes on an Alaska corporation’s liabilities in a merger? 1

The surviving entity does; AS 10.55.206 vests each merging entity’s liabilities in the survivor when the merger takes effect. That statutory result does not establish what a particular R&W policy insures, so check the named entities and policy definitions. 1

Representations And Warranties in Other States

Other Coverage in Alaska

Sources

  1. Corporations Statutes and Regulations (Rev. June 26, 2026). Alaska Department of Commerce, Community, and Economic Development, Division of Corporations, Business and Professional Licensing; Title 10, AS 10.06.568(b), 10.06.570(a)–(b), 10.06.595; AS 10.55.206(a), pp. 38, 41, 169–170. Accessed 2026-09-28.
  2. Alaska Statutes, Title 10: Corporations and Associations. Alaska State Legislature; AS 10.06.568 and 10.06.570, indexed statutory text; current corporation compilation cross-checked against June 2026 Department compilation. Accessed 2026-09-28.
  3. Division of Insurance. Alaska Department of Commerce, Community, and Economic Development; Official Division homepage; publishes general contact number (907) 269-7900 and qualifies 1-800-INSURAK for callers in state outside Anchorage. Accessed 2026-09-28.
  4. Research a Company or Agent. Alaska Division of Insurance; Company and licensee search for entities licensed in Alaska. Accessed 2026-09-28.
  5. Complaints. Alaska Division of Insurance; Official complaint filing instructions and matters the Division can investigate. Accessed 2026-09-28.
  6. Surplus Lines. Alaska Division of Insurance; Current surplus-lines guidance on tax reporting, placement-list diligent-search exception, and required policyholder notice. Accessed 2026-09-28.
  7. Alaska Statutes, Chapter 21.34: Surplus Lines Insurance. Alaska Legislature; AS 21.34.180/.190 rates; the Division's accessible current Surplus Lines FAQ reproduces the wet-marine and public-risk exceptions and filing-fee treatment. Accessed 2026-09-28.
  8. Bulletin B 12-05: Alaska Policyholder Notice. Alaska Division of Insurance; Required nonadmitted-insurer notice says claims are not covered by the Alaska Insurance Guaranty Association Act. Accessed 2026-09-28.
  9. 15 U.S.C. § 8202: Regulation of nonadmitted insurance by insured's home State. U.S. House of Representatives, Office of the Law Revision Counsel; § 8202(a): nonadmitted placement is subject solely to insured's home-State requirements, except as otherwise provided; § 8201 addresses exclusive home-State tax authority. Accessed 2026-09-28.
  10. Surplus Lines. Alaska Division of Insurance; Full current FAQ: rates, wet marine tax/fee/search exceptions, government and qualifying aircraft tax/fee exceptions, home-state determination, and placement-list search rules (lines 92–159). Accessed 2026-09-28.
  11. Licenses. At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21.
  12. Licenses and Carriers. Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535. Accessed 2026-09-22.
  13. Insurance Producer Licenses. Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown. Accessed 2026-09-28.
  14. About Hiscox US Insurance. Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16.
  15. Licenses. ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885. Accessed 2026-09-28.
  16. Insurance Licenses by State. TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number. Accessed 2026-09-28.
  17. Licenses. Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict. Accessed 2026-09-15.

Updated .

This guide is informational and does not determine whether a policy is available or meets your needs. Editorial policy. To suggest a correction, contact Spot with a supporting source.

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