KLS Keeping Law Simple Legislation in plain English

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HB116 • 2026

COMMERCIAL FISHING INSURANCE CO-OP

An Act exempting from insurance regulation cooperative agreements entered into by two or more persons engaged in commercial fishing for the purpose of paying claims or losses.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
HOUSE FISHERIES BY REQUEST OF TASK FORCE EVAL ALASKA SEAFOOD INDUSTRY
Last action
2025-07-30
Official status
CHAPTER 24 SLA 25
Effective date
Not listed

Plain English Breakdown

The official source material does not provide details on how the cooperative agreements are structured beyond being exempt from certain regulations.

Commercial Fishing Insurance Co-op Exemption

This law allows commercial fishing businesses to form insurance co-ops without following regular insurance rules.

What This Bill Does

  • Exempts certain cooperative agreements between commercial fishermen from state insurance regulations if the purpose is to pay claims or losses.

Who It Names or Affects

  • Commercial fishing businesses in Alaska
  • Fishermen who join these cooperative agreements

Terms To Know

Cooperative agreement
An arrangement where two or more people work together for a common goal, like sharing risks and costs.
Insurance regulation
Rules set by the government to make sure insurance companies operate fairly and safely.

Limits and Unknowns

  • The law only applies to commercial fishing businesses in Alaska.
  • It does not cover other types of insurance or business arrangements outside the specific co-op setup described.

Bill History

  1. 2025-07-30 1391

    (H) EFFECTIVE DATE(S) OF LAW 10/22/25

  2. 2025-07-30 1391

    (H) LAW W/O GOV SIGNATURE 7/24 CHAPTER 24 SLA 25

  3. 2025-07-30 1373

    (H) 2:15 P.M. 7/1/25 TRANSMITTED TO GOVERNOR

  4. 2025-05-16 1305

    (S) VERSION: HB 116

  5. 2025-05-16 1305

    (S) RETURN TO (H), TRANSMIT TO GOV NEXT

  6. 2025-05-16 1305

    (S) PASSED Y20 N-

  7. 2025-05-16 1304

    (S) READ THE THIRD TIME HB 116

  8. 2025-05-14 1277

    (S) ADVANCED TO THIRD READING 5/16 CAL

  9. 2025-05-14 1277

    (S) READ THE SECOND TIME

  10. 2025-05-14 1277

    (S) RULES TO CALENDAR 5/14/2025

  11. 2025-05-13 1255

    (S) FN2: ZERO(CED)

  12. 2025-05-13 1255

    (S) NR: MERRICK, YUNDT

  13. 2025-05-13 1255

    (S) DP: BJORKMAN, DUNBAR, GRAY-JACKSON

  14. 2025-05-13 1255

    (S) L&C RPT 3DP 2NR

  15. 2025-05-12 Min

    (S) Minutes (SL&C)

  16. 2025-05-12 Text

    (S) Moved HB 116 Out of Committee -- Public Testimony <Time Limit May Be Set> --

  17. 2025-05-12 Text

    (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  18. 2025-05-09 Min

    (S) Minutes (SL&C)

  19. 2025-05-09 Text

    (S) Heard & Held

  20. 2025-05-09 Text

    (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  21. 2025-04-28 973

    (S) L&C

  22. 2025-04-28 973

    (S) READ THE FIRST TIME - REFERRALS

  23. 2025-04-25 918

    (H) VERSION: HB 116

  24. 2025-04-25 918

    (H) TRANSMITTED TO (S)

  25. 2025-04-25 911

    (H) PASSED Y37 E3

  26. 2025-04-25 911

    (H) READ THE THIRD TIME HB 116

  27. 2025-04-23 862

    (H) ADVANCED TO THIRD READING 4/25 CALENDAR

  28. 2025-04-23 862

    (H) READ THE SECOND TIME

  29. 2025-04-23 862

    (H) RULES TO CALENDAR 4/23/2025

  30. 2025-03-26 543

    (H) FN2: ZERO(CED)

  31. 2025-03-26 543

    (H) NR: NELSON

  32. 2025-03-26 543

    (H) DP: CARRICK, COULOMBE, BURKE, FIELDS, HALL

  33. 2025-03-26 543

    (H) L&C RPT 5DP 1NR

  34. 2025-03-24 Min

    (H) Minutes (HL&C)

  35. 2025-03-24 Text

    (H) Moved HB 116 Out of Committee

  36. 2025-03-24 Text

    (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  37. 2025-03-21 Text

    (H) -- Invited & Public Testimony -- -- MEETING CANCELED --

  38. 2025-03-21 Text

    (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  39. 2025-03-13 Min

    (H) Minutes (HFSH)

  40. 2025-03-13 Text

    (H) <Bill Hearing Canceled>

  41. 2025-03-13 Text

    (H) FISHERIES at 10:00 AM GRUENBERG 120

  42. 2025-03-11 Min

    (H) Minutes (HFSH)

  43. 2025-03-11 Text

    (H) Moved HB 116 Out of Committee

  44. 2025-03-11 Text

    (H) FISHERIES at 10:00 AM GRUENBERG 120

  45. 2025-03-11 408

    (H) FN1: (CED)

  46. 2025-03-11 408

    (H) NR: MCCABE

  47. 2025-03-11 408

    (H) DP: VANCE, KOPP, EDGMON, HIMSCHOOT, ELAM, STUTES

  48. 2025-03-11 408

    (H) FSH RPT 6DP 1NR

  49. 2025-03-06 Text

    (H) -- MEETING CANCELED --

  50. 2025-03-06 Text

    (H) FISHERIES at 10:00 AM GRUENBERG 120

  51. 2025-03-04 Min

    (H) Minutes (HFSH)

  52. 2025-03-04 Text

    (H) Heard & Held -- Please Note Time Change --

  53. 2025-03-04 Text

    (H) FISHERIES at 10:30 AM GRUENBERG 120

  54. 2025-03-01 Text

    (H) -- MEETING CANCELED --

  55. 2025-03-01 Text

    (H) FISHERIES at 11:00 AM GRUENBERG 120

  56. 2025-02-26 251

    (H) FSH, L&C

  57. 2025-02-26 251

    (H) READ THE FIRST TIME - REFERRALS

Official Summary Text

COMMERCIAL FISHING INSURANCE CO-OP
An Act exempting from insurance regulation cooperative agreements entered into by two or more persons engaged in commercial fishing for the purpose of paying claims or losses.

Current Bill Text

Read the full stored bill text 
Enrolled HB 116
LAWS OF ALASKA

2025

Source Chapter No.
HB 116 _______

AN ACT

Exempting from insurance regulation cooperative agreements ente red into by two or more
persons engaged in commercial fishing for the purpose of paying claims or losses.

_______________

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:

THE ACT FOLLOWS ON PAGE 1

-1- Enrolled HB 116

AN ACT

Exempting from insurance regulation cooperative agreements ente red into by two or more 1
persons engaged in commercial fishing for the purpose of paying claims or losses. 2
_______________ 3
* Section 1. AS 21.03.021 is amended by adding a new subsection to read: 4
(l) This title does not apply to two or more persons engaged in commercial 5
fishing activities who enter into a cooperative agreement with each other to pool 6
contributions for the purpose of paying claims or losses arising from 7
(1) a liability claim against a commercial fishing business op erated by 8
a member of the pool; or 9
(2) the loss of or damage to a vessel or machine used in a com mercial 10
fishing business that is owned or leased by a member of the pool. 11