Alaska HB116 exempts commercial fishing cooperative agreements from insurance regulation.

Alaska HB116 amends state law to exempt cooperative agreements between two or more commercial fishermen from insurance regulation. These agreements allow members to pool contributions for paying claims or losses from liability claims or damage to vessels or machines used in commercial fishing. The bill ensures that such cooperative arrangements are not subject to insurance regulation, providing flexibility for fishermen in managing their risk.

Alaska HB116 exempts commercial fishing cooperative agreements from insurance regulation.

Alaska HB116 amends state law to exempt cooperative agreements between two or more commercial fishermen from insurance regulation. These agreements allow members to pool contributions for paying claims or losses from liability claims or damage to vessels or machines used in commercial fishing. The bill ensures that such cooperative arrangements are not subject to insurance regulation, providing flexibility for fishermen in managing their risk.