In this chapter,

(1) “adjustment expenses” means expenses for investigative, processing, legal, actuarial, arbitration, and settlement services incurred in the adjustment of losses, claims, or benefits;

Terms Used In Alaska Statutes 21.76.900

  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) “administrator” means a person or group appointed by the board of directors to administer a joint insurance arrangement or a joint insurance fund;
(3) “board” or “board of directors” means the board of directors provided for in a cooperative agreement;
(4) “cooperative agreement” means a written agreement entered into by two or more entities described in Alaska Stat. § 21.76.010 for the purpose of establishing, operating, or participating in a joint insurance arrangement;
(5) “fund” or “joint insurance fund” means a fund established under Alaska Stat. § 21.76.080;
(6) “joint insurance arrangement” means a joint insurance arrangement authorized under Alaska Stat. § 21.76.010.
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