AK SB208

Increases minimum public liability and property damage insurance requirements for contractor registration from $20,000 to $100,000 for property damage, with $50,000 per person and $100,000 for multiple persons for injury or death.

Raises the project price threshold for insurance exemptions from $2,500 to $5,000 per project aggregate contract price.

Requires contractors to provide written notice to each client describing the levels and limits of their insurance coverage.

Allows clients to bring civil actions directly against a contractor's insurer for grossly negligent work if the contractor fails to acknowledge, respond promptly, or attempt good faith resolution of claims after reasonable communication attempts.

Applies to contracts entered into or renewed on or after the effective date of the Act.