AK SB132

Requires pharmacy benefits managers and third-party administrators to obtain licenses (with $20,000 and $2,000 fees respectively) rather than simply registering, and authorizes the Director of Insurance to examine these entities at any time

Extends the statute of limitations for life insurance-related offenses to one year after discovery (up to 20 years maximum), and prohibits insurers from depreciating labor costs in residential property claims unless offered as a separate optional endorsement

Expands colorectal and breast cancer screening coverage requirements by eliminating cost-sharing for average-risk colorectal screenings and adding coverage for breast biopsies and consultations without deductibles or copays

Prohibits insurers from canceling or failing to renew property/casualty policies solely because a claim was filed to meet disaster aid requirements where no benefit was paid, and bars insurance decisions based solely on a person's status as an elected official

Increases nonrenewal notice requirements to 45 days for all policies (previously 20 days for personal insurance), reduces HMO consumer governing body requirements from one-third to one-quarter, and expands owner-controlled insurance programs to cover major multi-owner residential construction projects of 40+ units costing $20 million or more