GOVERNMENT: Alaska clarifies standards for total loss settlements

by | Sep 8, 2011 | Claims Department News

The Alaska Division of Insurance has issued a bulletin (a follow-up to one on the same topic in 2010) outlining an insurer’s obligations in valuing vehicles in a total loss claims.
The bulletin states, for example, that settlement offers must include all applicable taxes and license fees related to the transfer of ownership of the vehicle. It also clarifies the methods that may be used in determining the cost of a comparable vehicle.
State of Alaska Bulletin Part 1
State of Alaska Bulletin Part 2