Arkansas Administrative Code

23 CAR § 96-101. Purpose. The purpose of this part is to implement Arkansas Code § 23-66-206(13) so as to prevent unfair discrimination in life insurance, annuities, and disability insurance on the basis of blindness or partial blindness.

23 CAR § 96-102. Unfairly discriminatory acts or practices. (a) The following are hereby identified as acts or practices that constitute unfair discrimination between individuals of the same class: refusing to insure, refusing to continue to insure, limiting the amount, extent, o…

23 CAR § 96-103. Effective date and applicability. This part shall be effective August 1, 1985, and shall be applicable to all life insurance, annuities, and disability policies delivered or issued for delivery in this state on or after such date and to all existing group contrac…

23 CAR § 97-101. Purpose. The purpose of this part is to recognize the following mortality tables for use in determining the minimum standard of valuation for annuity and pure endowment contracts: (1) The 1983 Table “a”; (2) The 1983 Group Annuity Mortality (1983 GAM) Table; (3) …

23 CAR § 97-102. Definitions. As used in this part: (1) “1983 GAM Table” means that mortality table developed by the Society of Actuaries Committee on Annuities and adopted as a recognized mortality table for annuities in December 1983 by the National Association of Insurance Com…

23 CAR § 97-103. Individual annuity or pure endowment contracts. (a) Except as provided in subsections (b) and (c) of this section, the 1983 Table “a”: (1) Is recognized and approved as an individual annuity mortality table for valuation; and (2) At the option of the company, may…

23 CAR § 97-104. Application of the 2012 IAR Mortality Table. (a) In using the 2012 IAR Mortality Table, the mortality rate for a person age x in year (2012 + n) is calculated as follows: (b) The resulting qx 2012+n shall be rounded to three (3) decimal places per one thousand (1…

23 CAR § 97-105. Group annuity or pure endowment contracts. (a) Except as provided in subsections (b) and (c) of this section, the 1983 GAM Table, the 1983 Table “a”, and the 1994 GAR Table are recognized and approved as group annuity mortality tables for valuation, and, at the o…

23 CAR § 97-106. Application of the 1994 GAR Table. In using the 1994 GAR Table, the mortality rate for a person age x in year (1994 + n) is calculated as follows: Where the and are as specified in the 1994 GAR Table.

23 CAR § 98-101. Purpose. The purpose of this part is to permit the use of mortality tables that reflect difference in mortality between smokers and nonsmokers in determining minimum reserve liabilities, minimum cash surrender values, and amounts of paid-up nonforfeiture benefits…

23 CAR § 98-102. Definitions. As used in this part: (1) "1958 CET Table" means that mortality table: (A) Developed by the Society of Actuaries Special Committee on New Mortality Tables; (B) Incorporated in the NAIC Model Standard Nonforfeiture Law for Life Insurance; and (C) Refe…

23 CAR § 98-103. Alternate tables. (a)(1) For any policy of insurance delivered or issued for delivery in this state after the operative date of Arkansas Code § 23-81-209(h)(2)(I) for that policy form and before January 1, 1989, at the option of the company and subject to the con…

23 CAR § 98-104. Conditions. For each plan of insurance with separate rates for smokers and nonsmokers an insurer may use: (1) Composite mortality tables to determine: (A) Minimum reserve liabilities; (B) Minimum cash surrender values; and (C) Amounts of paid-up nonforfeiture ben…

23 CAR § 99-101. Purpose. (a) The purpose of this part is to permit individual life insurance policies to provide the same cash surrender values and paid-up nonforfeiture benefits to both men and women. (b) No change in minimum valuation standards is implied by this part.…

23 CAR § 99-102. Definitions. As used in this part: (1) "1980 CET Table" means that mortality table consisting of separate rates of mortality for male and female lives: (A) Developed by the Society of Actuaries Committee to Recommend New Mortality Tables for Valuation of Standard…

23 CAR § 99-103. Rule. (a) For any policy of insurance on the life of either a male or female insured delivered or issued for delivery in this state and after the operative date of Arkansas Code § 23-81-209(h)(2)(I) for that policy form: (1) A mortality table that is a blend of t…

23 CAR § 99-104. Alternate rule. (a) In determining minimum cash surrender values and amounts of paid-up nonforfeiture benefits for any policy of insurance on the life of either a male or female insured on a form of insurance with separate rates for smokers and nonsmokers deliver…

23 CAR § 99-105. Unfair discrimination. It shall not be a violation of Title 23, Chapter 66 of the Arkansas Insurance Code for an insurer to issue the same kind of policy of life insurance on both a sex-distinct and sex-neutral basis.

23 CAR § 200-101. Purpose. The purpose of this part is to set forth rules and procedural requirements that the Insurance Commissioner deems necessary to carry out the provisions of Arkansas Code § 23-67-201 et seq., § 23-67-219, § 23-79-109, and § 23-79-110, as to rate and/or for…

23 CAR § 200-102. Applicability and scope. This part applies to insurance described in Arkansas Code §§ 23-67-203 and 23-67-501, and insurers, rate service or advisory organizations, joint underwriting associations, and joint reinsurance organizations making filings under Arkansa…

23 CAR § 200-103. Definitions. As used in this part: (1) “Expenses” means those parts of a rate attributable to: (A) Acquisition; (B) Commissions; (C) Selling; (D) Inspection; (E) Audit; (F) Field supervision; (G) Collection; (H) General expenses; (I) Taxes; (J) Licenses; and (K)…

23 CAR § 200-104. Rate service organizations. (a) Advisory organizations — Permitted activity. (1)(A) Every advisory organization shall file with the State Insurance Department every advisory document thirty (30) days prior to the effective date. (B) The department may extend the…

23 CAR § 200-105. Procedures for rate and supplementary rate information filings. (a) For all lines other than workers’ compensation and employers’ liability. (1) Property and casualty transmittal documents. (A)(i) If a copy of the filing, bearing the appropriate stamp of the Sta…

23 CAR § 200-106. Procedures for form filings — All lines. (a)(1) All forms submitted for review shall comply with the applicable provisions of Arkansas Code § 23-79-101 et seq. (2) Pursuant to Arkansas Code § 23-79-109, this section shall not apply to surety bonds, nor to polici…

23 CAR § 200-107. Self-certification (STMSCP Program). (a) Certification of compliance. (1) Every filing submitted, pursuant to this optional procedure, must be accompanied with the appropriate completed and signed compliance certificate or certificates as required by the pilot s…

23 CAR § 200-108. Forms. (a) Forms. (1) The following forms are prescribed by the Insurance Commissioner and are attached as exhibits to this part. (2) All forms are available upon request to the State Insurance Department or via the department’s website at http://www.insurance.a…

23 CAR § 201-101. Purpose. (a)(1) The purpose of this part is to clarify existing legislation regarding surplus lines insurance in order to provide clear guidance to originating producers and brokers and surplus line brokers in Arkansas licensed under the Surplus Lines Insurance …

23 CAR § 201-102. Applicability and scope. The provisions of this part shall be applicable to resident and nonresident producers and brokers licensed for property, casualty, surety, and marine insurance transactions in this state and serving as the originating producer or broker …

23 CAR § 201-103. Affidavits. (a) In accordance with Arkansas Code § 23-65-306, Form SL-2, the surplus line broker's affidavit, must be completed in full and forwarded to the Insurance Commissioner by the surplus line broker within sixty (60) days of the end of the month in which…

23 CAR § 201-104. Endorsement of contract. (a) Pursuant to Arkansas Code § 23-65-307, all insurance contracts procured and delivered as surplus line coverage shall be initialed by, or bear the name of, the surplus line broker who procured it. (b) In addition, the contract shall c…

23 CAR § 201-105. Disclosure to Surplus Line Insured. Form SL-3, Disclosure to Surplus Line Insured, must be signed by the insured and retained by the originating producer or broker.

23 CAR § 201-106. Licensing of corporations and partnerships acting as surplus line brokers. (a) All individuals acting as surplus line brokers in this state must first individually qualify for and be issued a surplus line broker's license pursuant to Arkansas Code § 23-65-308. (…

23 CAR § 201-107. Records of surplus line brokers. (a) In addition to the other items of information required to be maintained by the surplus line broker, pursuant to Arkansas Code § 23-65-313(a)(9) surplus line brokers shall also maintain complete records as to expenses of under…

23 CAR § 201-108. Statement to be filed annually. (a) Form SL-4 must be completed in full by all licensed surplus line brokers and submitted to the State Insurance Department on or before the first day of March of each year as required by Arkansas Code § 23-65-314. (b) All surplu…

23 CAR § 201-109. Surplus line tax. (a) The filing of each Form SL-2 must be accompanied by full payment of the four percent (4%) tax required by Arkansas Code § 23-65-315. (b) The filing of Form SL-4, due March 1 annually, must be accompanied by full payment of the balance of ta…

23 CAR § 202-101. Purpose. (a) The purpose of this part is to establish minimum language and format standards to make property and casualty insurance policies for personal lines easier to read. (b) This part is not intended to increase the risk assumed under policies subject to i…

23 CAR § 202-102. Applicability and scope. (a) This part shall apply to all personal lines property and casualty insurance policies delivered or issued for delivery in this state by or on behalf of any insurer licensed in this state. (b) For the purpose of this part, "personal li…

23 CAR § 202-103. Standards. To comply with Arkansas Code § 23-80-306, policies covered by 23 CAR §§ 202-101 and 202-102 shall meet the following standards: (1) The policy shall include a table of contents of important provisions; (2)(A) Each section shall be self-contained and i…

23 CAR § 203-101. Purpose. The purpose of this part, as amended, is to reform the mandatory Arkansas Workers' Compensation Insurance Plan (“WCIP" or "plan") to ensure coverage for employers who are in good faith entitled, but unable to procure, workers’ compensation and employers…

23 CAR § 203-102. Arkansas Workers’ Compensation Insurance Plan definitions. As used in this part: (1)(A) "Affiliated insurer" means an insurer that directly, or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with another…

23 CAR § 203-103. Rules for eligibility and assignment. (a) Good faith. (1)(A) The following rules will govern the insuring of employers who are in "good faith entitled to workers' compensation insurance" as defined herein, but who are unable to procure such insurance in a regula…

23 CAR § 203-104. Cancellation and renewal. (a)(1) A servicing carrier shall have the right to cancel prospectively and upon thirty (30) days’ written notice any binder issued by the plan administrator, or any policy it has issued under the plan: (A) Where the employer is not eli…

23 CAR § 203-105. Participation. (a)(1) All insurers licensed to write and actually writing workers’ compensation insurance in this state are required to participate in this plan and subscribe to the Articles of Agreement for this state. (2) Any assessment that may be required of…

23 CAR § 203-106. Plan administrator. (a) The Insurance Commissioner shall from time to time designate a plan administrator to administer and operate the plan. (b) The plan administrator, or any successor plan administrator or administrators, shall open and continually operate a …

23 CAR § 203-107. Servicing carriers. (a) With respect to the servicing carriers appointed by the plan administrator and approved by the Insurance Commissioner, the following shall apply: (1) Eligibility to act as a servicing carrier. (A) The plan administrator shall establish wr…

23 CAR § 203-108. Interstate assignments. (a) Voluntary coverage. (1) Any employer assigned under this plan and desiring workers' compensation insurance for operations in states other than Arkansas may request its servicing carrier to furnish such insurance in such additional sta…

23 CAR § 203-109. Association or sponsored multiple coordinated policies. (a)(1) Pursuant to the provisions of Arkansas Code § 11-9-408(d), as added by Acts 1993, No. 796, § 12, and Arkansas Code § 23-67-211, as added by Acts 1993, No. 1269, § 1, the plan administrator shall deve…

23 CAR § 203-110. Assignment formula. (a) The plan administrator shall develop and provide to the Insurance Commissioner detailed procedures for the equitable distribution of employers under this plan to servicing carriers. (b) These procedures shall provide for the random distri…

23 CAR § 203-111. Dispute resolution procedure. (a)(1) Any person affected by the operation of the plan, including, but not limited to, participating companies, employers, producers, and servicing carriers, who may have a dispute with respect to any aspect of the plan, including …

23 CAR § 203-112. Self-funded plan. (a) It is ultimately essential for maintaining the viability of the plan to establish and maintain rates at a level that will permit the plan to operate as a self-funded mechanism. (b) The plan administrator shall maintain necessary ratemaking …