Title 23 — Public Utilities and Regulated Industries

(1) A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would:(1) Prohibit th…

(a) (1) A purchasing group that intends to do business in this state shall obtain a certificate of registration from the Insurance Commissioner.(2) The commissioner shall issue a certificate of registration to a purchasing group organized and formed under the laws of any state if…

(a) A purchasing group may not purchase insurance from a risk retention group that does not hold a certificate of registration in this state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed a…

(a) Each authorized risk retention group shall, on or before March 1 of each year, file with the commissioner on forms prescribed by the commissioner a statement for the preceding calendar year showing all premiums paid to the risk retention group for risks insured within this st…

The provisions as to fees for obtaining and continuing licenses for insurers, agents, and brokers under § 23-61-401 shall be applicable to risk retention groups, purchasing groups, risk retention group agents and purchasing group brokers, resident surplus lines brokers, and nonre…

The commissioner is authorized to make use of any of the powers established under the Arkansas Insurance Code to enforce the laws of this state not specifically preempted by the Liability Risk Retention Act of 1986, including the commissioner's administrative authority to investi…

(a) Risk Retention Group Agents. Any person acting, or offering to act, as an agent or broker for a registered risk retention group which solicits members, sells insurance coverage, or otherwise does business in this state shall, before commencing any such activity, obtain a resi…

An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state, or in all states or in any territory or possession of the United States, upon a finding that the risk retention group is in…

The commissioner may establish and from time to time amend such rules relating to risk retention groups as may be necessary or desirable to carry out the provisions of this subchapter.

The purpose of this chapter is to provide for the establishment of risk-sharing plans for property or casualty insurance if the Insurance Commissioner determines that the insurance is not reasonably available in the voluntary market for the citizens of this state. This chapter is…

This chapter shall be deemed cumulative of prior laws, and no prior law or part of a law shall be deemed to be in conflict with this chapter unless failure to so determine would prevent giving effect to an explicit provision of this chapter.

(1) There is created a governing board of seven (7) members to be appointed by the Insurance Commissioner which shall meet as necessary to review and prescribe operating procedures and rules to implement any plan promulgated pursuant to this chapter. The board shall be composed o…

(a) (1) If the Insurance Commissioner finds after a hearing that in all or in any part of this state, any amount or kind of insurance authorized by §§ 23-62-104 and 23-62-105 is not reasonably available in the voluntary market and that the public interest requires the availabilit…

(a) Each plan promulgated or prepared pursuant to § 23-95-104 shall:(1) Give consideration to:(A) The need for adequate and readily accessible coverage;(B) Optional methods of improving the market affected;(C) The inherent limitations of the insurance mechanism;(D) The need for r…

Every participating insurer and agent shall provide to any person seeking the insurance available in each plan information about the services prescribed in the plan, including full information on the requirements and procedures for obtaining insurance under the plan.

There shall be no liability on the part of and no cause of action shall arise against the Insurance Commissioner, his or her representatives, or any plan, its participants, or its employees for any good faith action taken by them in the performance of their powers and duties in c…

The Insurance Commissioner shall have the authority to promulgate rules necessary to effectuate the purpose of this chapter.

This chapter shall be known and may be cited as the “Arkansas Life and Health Insurance Guaranty Association Act”.

(a) The purpose of this chapter is to protect, subject to certain limitations, the persons specified in § 23-96-107(a) against failure in the performance of contractual obligations under life and health and annuity policies, plans, or contracts specified in § 23-96-107(b) because…

(a) This chapter shall be construed to effect the purpose under § 23-96-102. (b) This chapter shall not be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating under a plan with assessment liability.

(1) As used in this chapter:(1) “Account” means any of the two (2) accounts created under § 23-96-109;(2) “Association” means the Arkansas Life and Health Insurance Guaranty Association created under § 23-96-109;(3) “Authorized assessment” or the term “authorized” when used in th…

(a) (1) A person, including a member insurer, agent, or affiliate of a member insurer, shall not make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a…

(a) This chapter shall not provide coverage for:(1) A portion of a policy or contract not guaranteed by the member insurer, or under which the risk is borne by the policy owner or contract owner;(2) A portion of a policy or contract of reinsurance, unless assumption certificates …

(a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) of this section to:(1) Persons who, regardless of where they reside, except for nonresident certificate holders under group policies or contracts, are the beneficiaries, assignees, …

(a) The following are not liable for or subject to any cause of action resulting from an act or omission by them in the performance of their powers and duties under this chapter:(1) A member insurer or its agents or employees;(2) The Arkansas Life and Health Insurance Guaranty As…

(a) (1) (A) There is created a nonprofit legal entity to be known as the “Arkansas Life and Health Insurance Guaranty Association”.(B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenanc…

(a) In addition to the rights and powers elsewhere in this chapter, the Arkansas Life and Health Insurance Guaranty Association may:(1) Enter into such contracts as are necessary or proper to carry out this chapter;(2) Sue or be sued, including taking any legal actions necessary …

(1) If a member insurer is an impaired insurer, the Arkansas Life and Health Insurance Guaranty Association, in its discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by …

(a) If a member insurer is an insolvent insurer, the Arkansas Life and Health Insurance Guaranty Association, in its discretion, shall:(1) Do both of the following:(A) Guarantee, assume, reissue, or reinsure, or cause to be guaranteed, assumed, reissued, or reinsured, the policie…

(a) (1) When proceeding under § 23-96-111 or § 23-96-112(a)(2), the Arkansas Life and Health Insurance Guaranty Association shall:(A) With respect to policies and contracts, assure payment of benefits that would have been payable under the policies or contracts of the insolvent i…

(a) The benefits that the Arkansas Life and Health Insurance Guaranty Association may become obligated to cover shall in no event exceed the lesser of:(1) The contractual obligations for which the member insurer is liable or would have been liable if it were not an impaired insur…

(a) (1) For the purpose of providing the funds necessary to carry out the powers and duties of the Arkansas Life and Health Insurance Guaranty Association, the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association shall assess the member insurers, sepa…

(a) (1) (A) The Arkansas Life and Health Insurance Guaranty Association shall submit to the Insurance Commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the Arkansas Life and Health Ins…

(1) To aid in the detection and prevention of member insurer insolvencies or impairments:(1) The Insurance Commissioner shall:(A) (i) Notify the commissioners of all the other states, territories of the United States, and the District of Columbia when he or she takes any of the f…

(a) In addition to the duties and powers enumerated elsewhere in this chapter:(1) The Insurance Commissioner shall:(A) Upon request of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association, provide the Arkansas Life and Health Insurance Guaranty As…

(a) (1) (A) Before the termination of any liquidation, rehabilitation, or conservation proceeding, the court may take into consideration the contributions of the respective parties, including the Arkansas Life and Health Insurance Guaranty Association, the shareholders, contract …

(a) Nonpayment of premiums within thirty-one (31) days after the date required under the terms of any guaranteed, assumed, alternative, or reissued policy or contract or substitute coverage shall terminate the Arkansas Life and Health Insurance Guaranty Association's obligations …

(a) If the Arkansas Life and Health Insurance Guaranty Association elects to reissue terminated coverage at a premium rate different from that charged under the terminated policy or contract, the premium shall be actuarially justified and set by the association according to the a…

This subchapter shall be known and may be cited as the “Long-Term Care Insurance Act of 2005”.

(1) The purpose of this subchapter is to:(1) Promote the public interest;(2) Promote the availability of long-term care insurance policies;(3) Protect applicants for long-term care insurance from unfair or deceptive sales or enrollment practices;(4) Establish standards for long-t…

(a) The requirements of this subchapter apply to policies delivered or issued for delivery in this state on or after August 12, 2005. (b) Except as provided in subsection (c) of this section, this subchapter is not intended to supersede the obligations to comply with other applic…

(1) As used in this subchapter:(1) “Applicant” means:(A) In the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and(B) In the case of a group long-term care insurance policy, the proposed certificate holder;(2) “Association” m…

(a) Prior to advertising, marketing, or offering a policy within this state, an association or the insurer of the association shall file evidence with the Insurance Commissioner that the association has:(1) A minimum of one hundred (100) persons;(2) Been organized and maintained …

No group long-term care insurance coverage may be offered to a resident of this state under a group policy issued in another state unless this state or another state having statutory and regulatory long-term care insurance requirements substantially similar to those adopted in th…

(a) The Insurance Commissioner may adopt rules for long-term care insurance that include, but are not limited to, standards for full and fair disclosure addressing:(1) The manner, content, and required disclosures for the sale of long-term care insurance policies;(2) Terms of ren…

(a) No long-term care insurance policy or certificate other than a policy or certificate issued to a group approved by the Insurance Commissioner under § 23-97-304(6)(B) shall:(1) Use a definition of “preexisting condition” that is more restrictive than the following: “Preexistin…

(a) No long-term care insurance policy shall be delivered or issued for delivery in this state if the policy:(1) Conditions eligibility for any benefits on a prior hospitalization requirement;(2) Conditions eligibility for any benefits provided in an institutional care setting on…

(a) The Insurance Commissioner may adopt rules establishing loss ratio standards for long-term care insurance policies. (b) A specific reference to long-term care insurance policies shall be contained in the rules.

(a) Long-term care insurance applicants shall have the right to return the policy or certificate within thirty (30) days of its delivery and to have the premium refunded if after examination of the policy or certificate the applicant is not satisfied for any reason. (b) Long-term…

(a) (1) An outline of coverage shall be delivered to a prospective applicant for long-term care insurance at the time of initial solicitation through means that prominently direct the attention of the recipient to the outline of coverage and its purpose.(2) The Insurance Commissi…