Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
Ark. Code Ann. § 23-62-205 Approval and notice of reinsurance
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(a) Every insurer authorized to do business in the State of Arkansas, whether foreign, domestic, or alien, including, but not limited to, farmers' mutual aid associations or companies, reciprocal insurers, stipulated premium insurers, mutual assessment life and disability compani…
Ark. Code Ann. § 23-62-301 Title — Applicability
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(a) This subchapter may be cited as the “Arkansas Credit for Reinsurance Law”. (b) All reserves ceded to a nonadmitted reinsurer on insurance written in this state shall be subject to the provisions of this subchapter.
Ark. Code Ann. § 23-62-302 Sections 23-62-201, 23-62-202, 23-62-204, and 23-62-205 applicable — Purpose — Construction
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(a) Reinsurance of insurance risks by domestic and foreign insurance companies is also regulated under the provisions of §§ 23-62-201, 23-62-202, 23-62-204, and 23-62-205. (b) (1) The purpose of this subchapter is to protect the interest of insureds, claimants, ceding insurers, a…
Ark. Code Ann. § 23-62-303 Report of funds withheld under reinsurance treaties
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Deposits and funds withheld under reinsurance treaties shall be reported in the annual statement in the exhibit entitled “Special Deposits Not for the Protection of All Policyholders”.
Ark. Code Ann. § 23-62-304 Agreement examination
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The Insurance Commissioner shall have the right to examine any of the reinsurance agreements or deposit arrangements of the ceding insurer at any time.
Ark. Code Ann. § 23-62-305 Credit allowed a domestic ceding insurer — Definitions
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(a) (1) (A) A domestic ceding insurer shall be allowed credit for reinsurance as an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of subdivisions (a)(4) and (5) of this section and subsections (b)-(f) of this se…
Ark. Code Ann. § 23-62-306 Asset or reduction from liability for reinsurance ceded by domestic insurer to assuming insurer — Noncompliant assuming insurer
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(a) (1) An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of § 23-62-305 shall be allowed in an amount not exceeding the liabilities carried by the ceding insurer.(2) The Insurance Commission…
Ark. Code Ann. § 23-62-307 Qualified United States financial institutions
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(a) For purposes of § 23-62-306(c)(3), a “qualified United States financial institution” means an institution that:(1) Is organized or, in the case of a United States office of a foreign banking organization, licensed under the laws of the United States or any state thereof;(2) I…
Ark. Code Ann. § 23-62-308 Rules
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(a) The Insurance Commissioner may adopt rules implementing this subchapter. (b) The Insurance Commissioner may adopt rules:(1) Applicable to a reinsurance arrangement that relates to:(A) A life insurance policy with guaranteed nonlevel gross premiums or guaranteed nonlevel benef…
Ark. Code Ann. § 23-62-309 Applicability — Reinsurance agreements
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This subchapter applies to a cession of a reinsurance agreement if that reinsurance agreement has an inception, anniversary, or renewal date not less than six (6) months after July 1, 2021.
Ark. Code Ann. § 23-62-401 Short title
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This subchapter may be cited as the “Reinsurance Intermediary Act”.
Ark. Code Ann. § 23-62-402 Definitions
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(1) As used in this subchapter:(1) “Actuary” means a person who is a member in good standing of the American Academy of Actuaries;(2) “Controlling person” means any person, firm, association, or corporation who directly or indirectly has the power to direct or cause to be directe…
Ark. Code Ann. § 23-62-403 Qualified United States financial institutions
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(1) For purposes of this subchapter, a “qualified United States financial institution” means an institution that:(1) Is organized or, in the case of a United States office of a foreign banking organization, licensed under the laws of the United States or any state thereof;(2) Is …
Ark. Code Ann. § 23-62-404 Licensure
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(a) No person, firm, association, or corporation shall act as a reinsurance intermediary broker in this state if the reinsurance intermediary broker maintains an office either directly, or as a member or employee of a firm or association, or as an officer, director, or employee o…
Ark. Code Ann. § 23-62-405 Required contract provisions — Reinsurance intermediary brokers
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(a) Transactions between a reinsurance intermediary broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. (b) The authorization shall, at a minimum, provide that:(1) The…
Ark. Code Ann. § 23-62-406 Books and records — Reinsurance intermediary brokers
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(a) For at least ten (10) years after expiration of each contract of reinsurance transacted by the reinsurance intermediary broker, the reinsurance intermediary broker will keep a complete record for each transaction showing:(1) The type of contract, limits, underwriting restrict…
Ark. Code Ann. § 23-62-407 Duties of insurers utilizing the services of a reinsurance intermediary broker
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(a) An insurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary broker on its behalf unless the person is licensed as required by § 23-62-404. (b) An insurer may not employ an individual who is employed by a reins…
Ark. Code Ann. § 23-62-408 Required contract provisions — Reinsurance intermediary managers
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(a) Transactions between a reinsurance intermediary manager and the reinsurer it represents in such capacity shall only be entered into pursuant to a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer's board of directors. (b…
Ark. Code Ann. § 23-62-409 Prohibited acts
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(1) The reinsurance intermediary manager shall not:(1) (A) Bind retrocessions on behalf of the reinsurer, except that the reinsurance intermediary manager may bind facultative retrocessions pursuant to obligatory facultative agreements if the contract with the reinsurer contains …
Ark. Code Ann. § 23-62-410 Duties of reinsurers utilizing the services of a reinsurance intermediary manager
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(a) A reinsurer shall not engage the services of any person, firm, association, or corporation to act as a reinsurance intermediary manager on its behalf unless the person is licensed as required by § 23-62-404. (b) The reinsurer shall annually obtain a copy of statements of the …
Ark. Code Ann. § 23-62-411 Examination authority
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(a) (1) A reinsurance intermediary shall be subject to examination by the Insurance Commissioner.(2) The commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner. (1) A reinsurance intermediary sh…
Ark. Code Ann. § 23-62-412 Penalties and liabilities
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(a) A reinsurance intermediary, insurer, or reinsurer found by the Insurance Commissioner, after a hearing conducted in accordance with §§ 23-61-301 — 23-61-307, to be in violation of any provision of this subchapter shall:(1) For each separate violation, pay a penalty in an amou…
Ark. Code Ann. § 23-62-413 Rules
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The Insurance Commissioner may adopt reasonable rules for the implementation and administration of the provisions of this subchapter.
Ark. Code Ann. § 23-63-1001 Court, judicial, and certain other bonds
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(a) (1) Upon compliance with the provisions of the Arkansas Insurance Code, a surety insurer may become surety upon any bond or other contract of any person and may become surety upon any bond required to be given by any person in the course of judicial proceedings or upon the bo…
Ark. Code Ann. § 23-63-1002 Bonds given by state, county, or municipal officers
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(a) All bonds or other obligations required or desired to be given by any state, county, or municipal officer for the due performance of the duties of his or her office or for the due accounting of money coming to his or her hands or for any other purpose whatever shall be suffic…
Ark. Code Ann. § 23-63-1003 Insurer's rights as surety same as individual's
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(a) A surety insurer authorized as such under the Arkansas Insurance Code shall have the same power and authority to become surety upon all bonds required by law or desired by contracting parties and shall be vested with the same rights and be subject to all the liabilities as in…
Ark. Code Ann. § 23-63-1004 Estoppel to deny corporate power to be surety
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In any action brought against a surety insurer to enforce the liability assumed by it under any bond or contract, the insurer is estopped from denying its corporate or other power to execute that bond or guaranty or to assume the liability.
Ark. Code Ann. § 23-63-101 [Repealed.]
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A.C.A. § 23-63-101Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-63-102 Retaliation for foreign taxes, fees, restrictions, etc
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(a) The Insurance Commissioner shall impose upon any insurer or upon the agent or representative of that insurer of any other state or any foreign country doing business in the State of Arkansas the same taxes, licenses, and other fees, in the aggregate, and the same fines, penal…
Ark. Code Ann. § 23-63-103 Retaliation for unjustified refusal to permit business because of similar name
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Whenever any other state or foreign country refuses to permit any life insurer domiciled in Arkansas to enter in and transact insurance in the state or country upon the grounds that the name of the Arkansas insurer is the same or similar to the name of a life insurer domiciled in…
Ark. Code Ann. § 23-63-104 Domicile of alien insurer
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(a) For the purpose of the Arkansas Insurance Code, except as provided under § 23-68-102(6), the domicile of an alien insurer, other than insurers formed under the laws of Canada, shall be that state designated by the insurer in writing filed with the Insurance Commissioner at ti…
Ark. Code Ann. § 23-63-105 Service contracts to perform administrative functions
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(a) (1) No domestic insurer shall make any contract with any insurance company or holding company or any other type of company whereby the company is to perform substantially all of the administrative functions for the insurer until that contract is filed with and has received pr…
Ark. Code Ann. § 23-63-106 [Repealed.]
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A.C.A. § 23-63-106Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-63-107 Prompt processing of payment by insurer
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(a) An insurer shall not intentionally or unreasonably delay, for more than three (3) business days after presentment for collection, the processing of any properly executed and endorsed check, draft, or electronic funds transfer issued in settlement of an insurance claim. (b) It…
Ark. Code Ann. § 23-63-108 [Repealed.]
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A.C.A. § 23-63-108Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-63-109 Natural causes
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(a) (1) No insurance policy or contract covering damages to property shall be cancelled nor the renewal thereof denied solely as a result of claims arising from natural causes.(2) “Natural cause” is defined as an act occasioned exclusively by the violence of nature where all huma…
Ark. Code Ann. § 23-63-110 Policy cancellation or premium increase
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(a) No insurance policy or contract after being issued by an insurer authorized to transact business in this state may be cancelled nor may the premium for such a policy be increased solely as a result of claims made under the policy which resulted in no loss to the insurer. (b) …
Ark. Code Ann. § 23-63-1101 Title
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This subchapter may be cited as the “Business Transacted with Producer Controlled Property and Casualty Insurer Act”.
Ark. Code Ann. § 23-63-1102 Definitions
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(1) As used in this subchapter:(1) “Accredited state” means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the National Association of Insurance Co…
Ark. Code Ann. § 23-63-1103 Date of required compliance
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Compliance with this subchapter shall be required on and after January 1, 1994.
Ark. Code Ann. § 23-63-1104 Applicability
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(a) This subchapter shall apply to licensed insurers as defined in § 23-63-1102 either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. (b) All provisions of the Insurance Holding Company Regulatory Act,…
Ark. Code Ann. § 23-63-1105 Minimum standards
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(a) (1) The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross premiums on business placed with a controlled insurer by a controlling producer is equal to or greater than five percent (5%) of the admitted assets of the controlled insure…
Ark. Code Ann. § 23-63-1106 Disclosure
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The producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling prod…
Ark. Code Ann. § 23-63-1107 Penalties
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(a) (1) If the Insurance Commissioner believes that the controlling producer or any other person has not materially complied with this subchapter, after notice and hearing, the commissioner may order the controlling producer to cease placing business with the controlled insurer.(…
Ark. Code Ann. § 23-63-111 Policyholder's right to loss information — Definition
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(a) (1) (A) Upon written request, each licensed property and casualty insurer shall mail or deliver the policyholder's claim loss information to the policyholder or his or her authorized producer within thirty (30) days from the date of receipt of the request from the policyholde…
Ark. Code Ann. § 23-63-112 Notice of intent to settle
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(a) An insurer shall provide its insured written notice of the terms of settlement of a claim if the insured:(1) Notifies the insurer in writing that the amount of or liability for the claim is contested; and(2) Requests in writing notice of the insurer's settlement of the claim.…
Ark. Code Ann. § 23-63-113 Agreement required for access to contracting agent's panel of contracted healthcare providers or contracted reimbursement rates — Identification of network discounts applicable to provider claims required on subscriber identification cards — Definitions
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(a) As used in this section:(1) (A) “Contracting agent” means an entity that while engaged in selling, leasing, assigning, conveying, or otherwise, grants access to the entity's panel of contracted healthcare providers and the entity's contracted reimbursement rates to another en…
Ark. Code Ann. § 23-63-114 Written management and service agreements
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No domestic insurance carrier, health maintenance organization, farmers' mutual aid association, hospital and medical service corporation, stipulated premium insurer, or fraternal benefit society shall enter into a management or service agreement unless the agreement is in writin…
Ark. Code Ann. § 23-63-115 Agreement between insurers and dentists establishing fees for noncovered service prohibited — Definitions
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(a) As used in this section:(1) “Dental plan” means a contract, plan, or policy of insurance issued by an insurer that provides for a dental benefit;(2) “Insurer” means an insurance company, a health maintenance organization, a hospital and medical service corporation, or a self-…
Ark. Code Ann. § 23-63-116 Retaliatory tax credit
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(a) A domestic property and casualty insurer that pays any other state or foreign country a tax, fine, penalty, deposit requirement or other material requirement, or any other fee that is determined by the Insurance Commissioner to be a retaliatory tax is entitled to a reduction …