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.
Alaska Insurance Fraud Laws
The following table outlines the specifics of Alaska insurance fraud laws.
| Code Sections | Alaska Stat. § 21.36.360 Fraudulent Insurance Acts |
| Parties Governed by this Section |
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| Intent to Injure, Defraud, or Deceive | 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. |
| Sworn Statements | 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. |
| Unlicensed/Fraudulent Companies | 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. |
| Forged Documentation | 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. |
| Penalties | Class B Felonies: 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:
Class C Felonies: punishable by up to five years in prison, a fine of up to $50,000, or both. Fraudulent insurance acts that fall under this class include:
Class A Misdemeanors: punishable by up to one year in prison, a fine of up to $10,000, or both. Fraudulent insurance acts that fall under this class include:
Class B Misdemeanors: punishable by up to 90 days in prison, a fine of up to $2,000, or both. Fraudulent insurance acts that fall under this class include:
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If you have been accused of violating one of Alaska's insurance fraud laws and would like legal assistance regarding your rights, you can contact an Alaska criminal defense attorney through FindLaw. Visit FindLaw's sections on Insurance Fraud and other fraud and financial crimes for more articles and information on this topic.
