Title 23, Public Utilities and Regulated Industries

(a) (1) Subject to acceptance by the insurer, the term of any credit life insurance or credit disability insurance shall commence on the date when the debtor becomes obligated to the creditor.(2) However, when a group policy provides coverage with respect to existing obligations,…

(a) All credit life insurance and credit disability insurance sold shall be evidenced by an individual policy or, in the case of group insurance, by a certificate of insurance. The individual policy or group certificate of insurance shall be delivered to the debtor. (b) In additi…

(a) The individual policy or group certificate of insurance shall be delivered to the insured debtor at the time the indebtedness is incurred except as provided in subsection (b) of this section. (b) (1) If the individual policy or group certificate of insurance is not delivered …

(a) All policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements, and riders shall be filed with the insurance commissioner in the state in which the policy is issued. (b) Within thirty (30) days after the filing of all…

(a) (1) Each insurer issuing credit life insurance or credit disability insurance shall file with the Insurance Commissioner its schedules of premium rates for use in connection with the insurance.(2) Any insurer may revise the schedule from time to time and shall file the revise…

All policies of credit life insurance and credit disability insurance shall be delivered or issued for delivery in this state only by an insurer authorized to do an insurance business therein and shall be issued only through holders of licenses issued by the Insurance Commissione…

(a) All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. (b) All claims shall b…

When credit life insurance or credit disability insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned or contro…

(a) (1) In order to assure that the premium rates charged or to be charged for credit life insurance or credit disability insurance are reasonable in relation to benefits provided, the Insurance Commissioner, after due notice and hearing, may issue rules establishing the maximum …

(a) After notice and hearing, the Insurance Commissioner may issue such rules as the commissioner deems appropriate for the supervision of this chapter. (b) (1) Whenever the commissioner finds that there has been a violation of this chapter or any rules issued pursuant thereto, a…

Any party to the proceeding affected by an order of the Insurance Commissioner shall be entitled to judicial review by following the procedure set forth in § 23-61-307.

(a) (1) Except as provided in subsection (b) of this section, in case of a total loss by fire or natural disaster of the property insured, a property insurance policy other than for flood and earthquake insurance shall be held and considered to be a liquidated demand against the …

(a) The amount charged by a volunteer fire department for the cost of its services in responding to a fire on or an emergency call concerning the property of a nonmember within its district shall not exceed an amount equal to the fair market value of the service rendered, except …

(a) (1) It is found and determined by the General Assembly that:(A) Rural fire protection districts are beneficial to all property owners in the districts;(B) Many of the districts are financed wholly or in part by dues or subscription payments made by members of the district;(C)…

When making a rate or rule filing, an insurer shall include an impact statement concerning the filing's effect on fire protection in the affected area unless the insurer utilizes a public protection classification system maintained by a licensed advisory organization.

(a) Except for nonpayment of premium, the insurer shall give either a written notice of nonrenewal or an offer of renewal at least thirty (30) days prior to the expiration of the policy's existing term. (b) The insurer shall send the insured a written notice and the insurance pro…

(a) As used in this section:(1) “Damaged property” means a damaged dwelling, a damaged structure, damaged personal property, or any other damaged property or service, the damage to which is covered under the terms of an insurance policy; and(2) “Expense depreciation” means deprec…

The purpose of this subchapter is to promote the public welfare by reducing the loss of life and fire damage to property caused by the crime of arson by requiring insurance companies to secure antiarson applications from applicants for new policies of property insurance containin…

As used in this subchapter, “antiarson application” means any application for insurance covering the peril of fire that includes certain questions which shall be answered by the applicant in addition to the basic information normally supplied to an insurer by an applicant.

(a) “Insurance policy” and “contract” shall not be construed to mean a property insurance policy issued prior to July 4, 1983, or contract that is being renewed. (b) However, assignment of the insurance policy or contract because of the transfer of a major financial interest in t…

Any insurer willfully violating the provisions of this subchapter shall be subject to a fine imposed by the Insurance Commissioner of not more than five hundred dollars ($500).

(a) In promulgating the antiarson application form, the Insurance Commissioner shall consider generally recognized two-tier application forms. If the initial first-tier application elicits certain predesignated answers, then the administration of a second-tier supplementary appli…

(a) The use of the antiarson application shall be mandatory for commercial monoline fire policies, designated occupancies, and designated areas of the state, based upon a finding by the Insurance Commissioner, after a public hearing, that the commercial monoline fire policies, th…

(a) No insurer may enter into a contract to insure any building, except one (1) to four (4) family owner-occupied dwellings, against the peril of fire to be issued after July 4, 1983, unless the insurer first receives an antiarson application signed and affirmed by the insured, i…

(a) Policyholders shall notify their insurer of any change in the information contained in the antiarson application, within a period of time to be specified. (b) A material failure to notify or a material misrepresentation in the notification shall be deemed grounds to rescind t…

(a) The Insurance Commissioner may not mandate the use of any applications other than the antiarson application as defined in § 23-88-202. However, the commissioner may mandate alternative antiarson applications pursuant to a finding after a public hearing that:(1) There exist ce…

(a) Despite any other provision of law which limits the time for termination of insurance policies to the contrary, an insurer may terminate any policy or contract of insurance when the antiarson application or any alternative antiarson application, as provided in § 23-88-209, is…

It is declared by the General Assembly of the State of Arkansas that adequate insurance upon property in the rural areas is necessary to the economic welfare of the state and that while the need for such insurance is increasing, the market for it is not adequate and may become le…

(1) As used in this subchapter:(1) “Association” means the Arkansas Rural Risk Underwriting Association established pursuant to the provisions of this subchapter;(2) “Commissioner” means the Insurance Commissioner;(3) “Insurer” means any person who:(A) Writes any kind of insuranc…

(a) (1) All insurers licensed to transact property insurance, as defined in § 23-62-104, shall become members of the Arkansas Rural Risk Underwriting Association.(2) For the purposes of this section, farmers' mutual aid associations or companies are insurers and are subject to th…

(1) For the plan or plans there shall be a governing board of seven (7) members to be appointed by the Insurance Commissioner, which shall meet at least annually to review and prescribe operating rules and which shall consist of the following members:(1) Four (4) members shall be…

(a) Within sixty (60) days following June 26, 1985, the governing board shall submit the plan to the Insurance Commissioner for his or her approval. (b) When the plan has been approved by the commissioner, all insurance companies authorized to transact the kinds of insurance set …

(a) (1) The plan shall provide for the efficient, economical, and fair administration of the Arkansas Rural Risk Underwriting Association and shall be consistent with the purposes of this subchapter. Therefore, the plan shall include provisions for the equitable apportionment amo…

It being the intention of this subchapter to provide an adequate market for the property insurance coverages defined in this subchapter, no insurer participating in this plan shall be liable for any damages which may result from any extra-contractual liability or for any act or o…

(a) In addition to approving the plan of operation, the Insurance Commissioner shall have the authority to promulgate rules necessary to effect the purpose of this subchapter. (b) Further, after review of annual statements, other reports, and any other statistics which the commis…

Any applicant for a policy, any persons insured under the plan, and any agency or insurer affected by the plan may appeal to the Insurance Commissioner any ruling or decision of the governing board or the authorized representative designated to operate a plan.

This subchapter may be referred to as the “Fire Loss Reporting Act of 2003”.

(a) In an effort to educate policyholders of the benefits of fire protection, every insurance company shall include in the premium notice to policyholders the following notice: “IMPORTANT NOTICE REGARDING FIRE PROTECTION Did you know that the firefighting ability of your Fire Dep…

The Insurance Commissioner may adopt reasonable rules to enforce the provisions of this subchapter.

(1) As used in this subchapter:(1) “Customer” means a person who purchases portable electronics or services;(2) “Enrolled customer” means a customer who elects to have coverage under a portable electronics insurance policy issued by a vendor;(3) “Location” means, as directed to r…

(a) A vendor is required to hold a limited lines license to sell or offer coverage under a portable electronics insurance policy. (b) A limited lines license issued under this subchapter shall authorize an employee or authorized representative of the licensee to sell or offer cov…

(a) At a location where portable electronics insurance coverage is offered to customers, a prospective customer shall receive written disclosure that states:(1) Portable electronics insurance may provide duplication of coverage provided by a customer's homeowner's insurance polic…

(a) (1) Employees and authorized representatives of vendors may sell or offer portable electronics insurance to customers without a license as an insurance producer if:(A) The vendor obtains a limited lines license; and(B) (i) The insurer issuing the portable electronics insuranc…

(1) If a vendor, its employee, or its authorized representative violates a provision of this subchapter, the Insurance Commissioner may after notice and a hearing impose on the vendor:(1) Fines not to exceed five hundred dollars ($500) per violation or five thousand dollars ($5,0…

(a) Notwithstanding any other law:(1) An insurer may terminate or otherwise change the terms and conditions of a portable electronics insurance policy only if the policyholder and enrolled customer are provided with at least thirty (30) days' notice; and(2) If the insurer changes…

(a) (1) An application for licensure under this subchapter shall be made to and filed with the Insurance Commissioner on forms prescribed and furnished by the State Insurance Department.(2) The application for licensure under this subchapter shall:(A) (i) Provide the name, reside…