(a) An insurer may only fail to renew a personal insurance policy on the policy's annual anniversary. An insurer may not fail to renew a policy unless a written notice of nonrenewal is mailed to the named insured under AS 21.36.260 at least 20 days for a personal insurance policy, and at least 45 days for a business or commercial insurance policy, before the date the policy expires or the anniversary date of a policy written for a term longer than one year or with no fixed expiration date.
(b) In addition to the requirements in (a) of this section, an insurer may not fail to renew a homeowner's insurance policy based solely on the earliest claim made by the insured within the three-year period immediately preceding the policy's annual anniversary if the claim arises from a criminal act committed by a third party. In this subsection, “homeowner's insurance” includes coverage described in AS 21.36.460(i)(7)(B) and (C).
(c) If notice of nonrenewal is not given as required by this section, the existing policy shall continue until the insurer provides notice for the period required by this section for the policy.
(d) This section does not apply
(1) if the insurer has in good faith manifested its willingness to renew;
(2) in case of nonpayment of premium for the expiring policy;
(3) if the insured fails to pay the premium as required by the insurer for renewal; or
(4) to business or commercial policies placed under AS 21.34.