reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 4 - HOME SERVICE ACT (§§ 23-66-401 — 23-66-408) › Section 23-66-407 - Private cause of action

No violation of this subchapter shall be deemed to give rise to a private cause of action.
Acts 1993, No. 932, § 7.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 4 - HOME SERVICE ACT (§§ 23-66-401 — 23-66-408) › Section 23-66-408 - Violations

(a)
The Insurance Commissioner shall conduct all hearings held pursuant to allegations of violations of this subchapter pursuant to §§
23-61-303
-
23-61-307
.
(b)
The commissioner may suspend for up to twelve (12) months, or may revoke or refuse to continue, any license issued by him or her which is the subject of an administrative hearing held pursuant to a violation of this subchapter.
(c)
The commissioner may additionally impose upon the licensee an administrative penalty in the amount of not more than one thousand dollars ($1,000) for each and every act or violation, but not to exceed an aggregate penalty of ten thousand dollars ($10,000), unless the person knew or reasonably should have known the person was in violation of this subchapter, in which case, the penalty shall be not more than five thousand dollars ($5,000) for each and every act or violation, but in an amount not to exceed an aggregate penalty of fifty thousand dollars ($50,000) in any six-month period.
Acts 1993, No. 932, § 8.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-502 - Fraudulent insurance acts, interferences, and participation of convicted felons prohibited

(a)
A person shall not commit a fraudulent insurance act.
(b)
A person shall not knowingly interfere with the enforcement of the provisions of this subchapter or investigations of suspected or actual violations of this subchapter.
(c)
(1)
A person convicted of a felony involving dishonesty or breach of trust shall not participate in the business of insurance unless the person was pardoned, the conviction was expunged, or the person has obtained the written consent of the Insurance Commissioner pursuant to subsection (d) of this section.
(2)
A person in the business of insurance shall not knowingly permit a person convicted of a felony involving dishonesty or breach of trust to participate in the business of insurance unless the person was pardoned, the conviction was expunged, or the person has obtained the written consent of the commissioner pursuant to subsection (d) of this section.
(d)
(1)
A person described in subdivision (c)(1) of this section may participate in the business of insurance if written consent is obtained from the commissioner who, in the commissioner's sole discretion, may grant the written consent upon a finding that to do so would not endanger the public health, safety, and welfare.
(2)
Notwithstanding any other provision in this subchapter, a person convicted in this state of a felony involving a fraudulent insurance act, dishonesty, or breach of trust after having obtained the written consent of the commissioner under this subsection shall have the fine and term of imprisonment for such a class of felony under the Arkansas Criminal Code enhanced to that of the next highest classification and shall be permanently disqualified from participating in the business of insurance in this state. If after obtaining the written consent of the commissioner under this subsection a person is convicted in a foreign jurisdiction of a felony involving a fraudulent insurance act, dishonesty, or breach of trust, the person shall be permanently disqualified from participating in the business of insurance in this state.
Acts 1997, No. 217, § 1; 1999, No. 313, § 1; 2005, No. 1994, § 460.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-503 - Fraud warning required

(a)
Claim forms, proofs of loss, or any similar documents, however designated, seeking payment or benefit pursuant to an insurance policy, and applications for insurance, regardless of the form of transmission, shall contain the following statement or a substantially similar statement:
"Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.".
(b)
The lack of a statement as required in subsection (a) of this section does not constitute a defense in any prosecution for a fraudulent insurance act.
(c)
Policies issued by unauthorized insurers shall contain a statement disclosing the status of the insurer to do business in the state where the policy is delivered or issued for delivery or the state where coverage is in force. The requirement of this subsection may be satisfied by a disclosure specifically required by §
23-65-307
.
(d)
The requirements of this section shall not apply to reinsurance proofs of loss or applications.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-504 - Investigative authority of commissioner

The Insurance Commissioner may investigate suspected fraudulent insurance acts and persons engaged in the business of insurance.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-505 - Mandatory reporting of fraudulent insurance acts

(a)
A person engaged in the business of insurance having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed shall provide to the Insurance Commissioner the information required by, and in a manner prescribed by, the commissioner.
(b)
Any person engaged in the business of insurance who knowingly fails to report as required by subsection (a) of this section shall be guilty of a Class A misdemeanor.
(c)
Any other person having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed may provide to the commissioner the information required by, and in a manner prescribed by, the commissioner.
(d)
(1)
Upon the request of the commissioner or the commissioner's employees, examiners, investigators, agents, or representatives, a person engaged in the business of insurance shall provide to the commissioner all information the commissioner deems relevant pertaining to any investigation of a fraudulent act or related criminal violation.
(2)
The refusal of a person to fully comply with the commissioner's request for information is grounds for the suspension, revocation, denial, or nonrenewal of any license or authority held by the person to engage in an insurance or other business subject to the commissioner's jurisdiction.
(3)
A proceeding for the suspension, revocation, denial, or nonrenewal of any license or authority shall be conducted pursuant to §§
23-63-213
and
23-64-512
.
Amended by Act 2017, No. 283,§ 14, eff. 8/1/2017.
Acts 1997, No. 217, § 1; 2005, No. 1697, § 14; 2005, No. 1994, § 230.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-506 - Immunity from liability

(a)
There shall be no civil liability for libel, slander, or any other cause of action imposed on, and no cause of action shall arise from a person's furnishing information concerning suspected, anticipated, or completed fraudulent insurance acts, if the information is provided to or received from:
(1)
The Insurance Commissioner or the commissioner's employees, agents, or representatives;
(2)
Federal, state, or local law enforcement or regulatory officials or their employees, agents, or representatives;
(3)
A person employed by or authorized by an insurer whose activities include the investigation or reporting of suspected fraudulent insurance acts when furnishing, disclosing, or requesting information on such suspected fraudulent insurance acts to or from a person employed by or authorized by other insurers or insurer organizations acting in the same capacity; or
(4)
The National Association of Insurance Commissioners or its employees, agents, or representatives.
(b)
Subsection (a) of this section shall not apply to statements made with actual malice. In an action brought against a person for filing a report or furnishing other information concerning a fraudulent insurance act, the party bringing the action shall plead specifically any allegation that subsection (a) of this section does not apply because the person filing the report or furnishing the information did so with actual malice.
(c)
This section does not abrogate or modify common law or statutory privileges or immunities enjoyed by a person described in subsection (a) of this section.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-507 - Confidentiality

(a)
Notwithstanding any other provision of law, the documents and evidence provided pursuant to §§
23-66-505
and
23-66-508
or obtained by the Insurance Commissioner in an investigation of suspected or actual fraudulent insurance acts shall be privileged and confidential and shall not be a public record and shall not be subject to discovery or subpoena in a civil or criminal action until the matter under investigation is closed by the Criminal Investigation Division with the consent of the commissioner.
(b)
Subsection (a) of this section does not prohibit release by the commissioner of documents and evidence obtained by the division in an investigation of suspected or actual fraudulent insurance acts:
(1)
In administrative or judicial proceedings to enforce laws administered by the commissioner;
(2)
To federal, state, or local law enforcement or regulatory agencies, to an organization established for the purpose of detecting and preventing fraudulent insurance acts, or to the National Association of Insurance Commissioners; or
(3)
At the discretion of the commissioner, to a person in the business of insurance that is aggrieved by a fraudulent insurance act.
(c)
Release of documents and evidence under subsection (b) of this section does not abrogate or modify the privilege granted in subsection (a) of this section.
Acts 1997, No. 217, § 1; 2001, No. 1604, § 46; 2005, No. 1697, § 15.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-509 - Other law enforcement of regulatory authority

This subchapter shall not:
(1)
Preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine, and prosecute suspected violations of law;
(2)
Prevent or prohibit a person from voluntarily disclosing information concerning insurance fraud to a law enforcement or regulatory agency other than the Criminal Investigation Division; or
(3)
Limit the powers granted elsewhere by the laws of this state to the Insurance Commissioner or the division to investigate and examine possible violations of law and to take appropriate action against wrongdoers.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-510 - Insurer antifraud initiative

(a)
Insurers shall have antifraud initiatives reasonably calculated to detect, prosecute, and prevent fraudulent insurance acts. Antifraud initiatives may include, but are not limited to:
(1)
Fraud investigators, who may be insurer employees or independent contractors; or
(2)
An antifraud plan submitted to the Insurance Commissioner. Antifraud plans submitted to the commissioner shall be privileged and confidential and shall not be a public record and shall not be subject to discovery or subpoena in a civil or criminal action.
(b)
Upon the written request of an insurer, the commissioner may grant an exemption from the requirements of this section if the commissioner determines that such an exemption would not be detrimental to the interests of the public.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-511 - Rules

The Insurance Commissioner may promulgate reasonable rules deemed necessary by the commissioner for the administration of this subchapter.
Amended by Act 2019, No. 315,§ 2668, eff. 7/24/2019.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-512 - Penalties

A person who violates this subchapter is subject to the following:
(1)
(A)
Suspension or revocation of license, civil penalties of up to ten thousand dollars ($10,000) per violation, or both.
(B)
Suspension or revocation of license and imposition of civil penalties shall be pursuant to an order of the Insurance Commissioner issued under §
23-61-301
et seq.
(C)
The commissioner's order may require a person found to be in violation of this subchapter to make restitution to persons aggrieved by violations of this subchapter;
(2)
(A)
A person convicted of a violation of §
23-66-502
by a court of competent jurisdiction shall be guilty of a Class D felony.
(B)
A person convicted of a violation of §
23-66-502
shall be ordered to pay restitution to persons aggrieved by the violation of this subchapter.
(C)
Restitution shall be ordered in addition to a fine or imprisonment; and
(3)
A person convicted of a felony violation of this subchapter pursuant to subdivision (2) of this section shall be disqualified from engaging in the business of insurance.
Acts 1997, No. 217, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 5 - FRAUDULUENT INSURANCE ACTS PREVENTION (§§ 23-66-501 — 23-66-513) › Section 23-66-513 - Initial appointment investigation

(a)
(1)
(A)
Prior to the approval of any application or request for appointment by an insurer or company to be added to the license obtained by an individual resident agent or producer who has had no previous appointments on his or her Arkansas license prior to this request, the insurer shall conduct or secure at its expense an investigation as to the applicant's identity, residence, experience, or instruction as to the kinds of insurance to be transacted, and as to the agent's or producer's character, financial condition, and financial history.
(B)
The Insurance Commissioner may accept a background check performed by the National Association of Securities Dealers for any required broker or producer background check required by this section.
(2)
At a minimum, the investigation shall include the following information disclosed by the investigation:
(A)
Whether the applicant has been convicted of a felony and, if so, the date and nature of the conviction, the name and location of the court, and the penalty imposed or other disposition of the case, for review in compliance with the provisions of §
23-66-502(c)
and other applicable state or federal laws;
(B)
Whether, at the time of the application, the agent or applicant is a named party in any lawsuit and, if so, the style of the lawsuit, a brief description of the litigation, and the name and location of the court;
(C)
Whether a judgment for monetary damages has been entered against the applicant within the last five (5) years and, if so, the date of the judgment, the amount of the judgment, whether the judgment has been paid or otherwise satisfied, the name and location of the court, and the style of the case; and
(D)
Such other information as the commissioner shall require.
(3)
The forms and the requirements of this subsection shall not apply to:
(A)
Any limited or restricted license as defined in §
23-64-502(7) or (9)
, any limited or restricted license that the commissioner may exempt, or any temporary license the commissioner may issue;
(B)
Corporations, partnerships, limited liability companies, and partnerships licensed as insurance agencies under this chapter; and
(C)
Any individual requesting a renewal license or requesting his or her second or subsequent insurer appointments added after the first-time license or appointment.
(b)
The requirements for broker or producer background checks of subdivisions (a)(1) and (2) of this section shall apply to each first-time original license applicant for a resident broker's or producer's license in this state. However, those requirements shall not be required for any renewal broker's or producer's license, and all filings shall exclude appointment forms for first or renewal licenses for brokers or producers.
Acts 2001, No. 580, § 20; 2003, No. 1203, § 14; 2003, No. 1473, § 53.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-601 - Short title

This subchapter may be cited as the "Insurance Sales Consumer Protection Act".
Acts 1997, No. 900, § 1; 2001, No. 1728, § 3.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-602 - Purpose

The purpose of this subchapter is to regulate the business of insurance and protect the interests of insurance consumers.
Acts 1997, No. 900, § 2; 2001, No. 1728, § 3.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-603 - Definitions

For the purpose of this subchapter:
(1)
"Affiliate" means any company that controls, is controlled by, or is under common control with another company;
(2)
"Customer" means a person who obtains, applies for, or is solicited to obtain insurance products primarily for personal, family, and household purposes;
(3)
"Depository institution" means a bank or savings association and does not include an insurance company;
(4)
"Insurance" means all policies or products defined or regulated as insurance pursuant to §
23-60-101
et seq. except:
(A)
Credit life, credit accident and health, credit property, credit casualty, credit involuntary unemployment, mortgagor's decreasing term life, and mortgagor's accident and health and sickness insurance;
(B)
Insurance placed by a financial institution in connection with collateral pledged as security for a loan when the debtor breaches the contractual obligation to provide that insurance; and
(C)
Private mortgage insurance;
(5)
"Insurance information" means information concerning the premiums, terms, and conditions of insurance coverage, including expiration dates and rates, and insurance claims of a customer contained in the records of a depository institution or an affiliate of a depository institution; and
(6)
"Person" means any natural or artificial entity, including, but not limited to, individuals, partnerships, associations, trusts, or corporations.
Acts 1997, No. 900, § 3; 1999, No. 881, § 9; 2001, No. 1728, § 3; 2003, No. 1747, § 10.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-604 - Exemption

The provisions of §
23-66-606
shall not apply to or affect in any way a broker-dealer licensed by the State of Arkansas when such a broker-dealer is conducting insurance sales activities on premises other than a depository institution or an affiliate of a depository institution premises.
Acts 1997, No. 900, § 7; 2001, No. 1728, § 3.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-605 - Insurance in connection with loan

(a)
The following shall apply when insurance is required as a condition of obtaining a loan or extension of credit:
(1)
(A)
No person, depository institution, or affiliate of a depository institution may require as a condition precedent to the lending of money or extension of credit, or any renewal thereof, that the person to whom the money or credit is extended or whose obligation a creditor is to acquire or finance, negotiate any policy or renewal thereof through a particular insurer or group of insurers or agent or broker or group of agents or brokers.
(B)
Further, no person, depository institution, or affiliate of a depository institution may reject an insurance policy solely because the policy has been issued or underwritten by a person who is not associated with the depository institution or affiliate when insurance is required in connection with a loan or extension of credit;
(2)
The loan or extension of credit and related insurance transactions shall be completed through separate documentation; and
(3)
A loan for premiums on required insurance, other than a loan for credit insurance premiums or flood insurance premiums, shall not be included in the primary credit without the written consent of the customer.
(b)
(1)
(A)
As a condition for extending credit or offering any product or service that is equivalent to an extension of credit, no person, depository institution, or affiliate of a depository institution may require that a customer obtain insurance from a depository institution, an affiliate of a depository institution, or a particular insurer or producer.
(B)
Nothing in this subchapter or §
23-60-101
et seq., shall be construed to prohibit depository institution or affiliate of a depository institution personnel from informing customers that insurance is required in order to obtain a loan or extension of credit or that loan or extension of credit approval is contingent upon the customers' obtaining acceptable insurance.
(2)
Depository institution or affiliate of a depository institution personnel may also inform customers that insurance is available from the depository institution, an affiliate of a depository institution, or particular unaffiliated third parties, and indicate how to obtain additional information.
Acts 1997, No. 900, § 4; 2001, No. 1728, § 3; 2003, No. 1747, § 11.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-607 - Customer privacy

No person, depository institution, or affiliate of a depository institution who lends money or extends credit may release, without the express consent of the customer, borrower, mortgagor, or purchaser:
(1)
Insurance information of a customer relative to a policy which is required by the credit transaction, for the purpose of soliciting, selling, or replacing such insurance. This provision does not apply:
(A)
In case of a transfer of insurance information to an unaffiliated insurer in connection with transferring insurance in force on an existing customer of the depository institution, or an affiliate thereof, or in connection with a merger with or acquisition of an unaffiliated insurer, or the release of information as otherwise authorized by state or federal law; and
(B)
To the use or disclosure of insurance information to an officer, director, employee, agent, or affiliate of a depository institution; or
(2)
Health information obtained from the insurance records of a customer for any purpose other than for its activities as a licensed producer.
Acts 1997, No. 900, § 6; 2001, No. 1728, § 3.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-608 - Authorization to promulgate rules

The Insurance Commissioner may promulgate rules to effectuate the purposes of this subchapter.
Amended by Act 2019, No. 315,§ 2669, eff. 7/24/2019.
Acts 1997, No. 900, § 8; 2001, No. 1728, § 3.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-609 - Prohibited activities

No person, depository institution, or affiliate of a depository institution who lends money or extends credit may:
(1)
Use an advertisement or other insurance promotional material that would cause a reasonable person to mistakenly believe that the United States Government or the state is responsible for the insurance sales activity of or stands behind the credit of the person, depository institution, or its affiliate;
(2)
Use an advertisement or other insurance promotional material that would cause a reasonable person to mistakenly believe that the United States Government or the state guarantees any return on an insurance product or is a source of payment on any insurance obligation of or sold by the person, depository institution, or its affiliate;
(3)
Solicit or sell insurance unless it maintains separate books and records relating to the insurance transactions, including all files relating to and reflecting consumer complaints; or
(4)
(A)
Pay or receive any commission, brokerage fee, or other compensation as a producer unless the person holds a valid producer's license for the applicable class of insurance.
(B)
However, an unlicensed person may make a referral to a licensed producer provided that the person does not:
(i)
Sell, solicit, or negotiate insurance;
(ii)
Discuss specific insurance policy terms and conditions; or
(iii)
Make recommendations or offer advice concerning insurance policies or coverages.
(C)
(i)
The unlicensed person may be compensated for the referral.
(ii)
However, in the case of a referral of a customer, the unlicensed person may be compensated only if the compensation is a fixed dollar amount for each referral that does not depend on whether the customer purchases the insurance product from the licensed producer.
(D)
Any person who accepts deposits from the public in an area where such transactions are routinely conducted in the depository institution may receive for each customer referral no more than a one-time, nominal fee of a fixed dollar amount for each referral that does not depend on whether the referral results in a transaction.
Acts 2003, No. 1747, § 13.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 6 - INSURANCE SALES CONSUMER PROTECTION ACT (§§ 23-66-601 — 23-66-610) › Section 23-66-610 - Commissioner's powers - Administrative proceedings

(a)
The Insurance Commissioner shall have the power to examine and investigate the insurance activities of depository institutions in order to determine whether a depository institution has been or is engaged in any unfair trade practice prohibited by this subchapter.
(b)
The commissioner shall notify the appropriate bank regulatory agency of the commissioner's intent to examine or investigate a depository institution and advise the appropriate bank regulatory agency of the suspected violations of state law prior to commencing the examination or investigation.
(c)
Administrative proceedings for persons not in compliance with this subchapter shall be held in accord with the procedures of §§
23-66-209
-
23-66-213
, subject to the following limitations or conditions:
(1)
(A)
If the person being investigated by the commissioner under subsection (a) of this section is a depository institution, the commissioner's authority to call a hearing for suspected violations of this subchapter is limited to the depository institution's insurance underwriting, sales, solicitation, and cross-marketing activities.
(B)
The commissioner shall provide a copy of the notice of hearing to the appropriate bank regulatory agency when a depository institution is involved;
(2)
If the person being investigated by the commissioner under subsection (a) of this section is a depository institution, the commissioner shall have the power to require the depository institution to produce books, papers, records, correspondence, or other documents that the commissioner deems relevant only to the inquiry regarding the insurance activities of the depository institution; and
(3)
If practicable, the commissioner shall:
(A)
Notify the appropriate bank regulatory agency before imposing a monetary penalty on a depository institution or suspending or revoking the depository institution's insurance license; and
(B)
Provide to the appropriate bank regulatory agency a copy of the findings.
Acts 2003, No. 1747, § 13.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 7 - DRUG ENFORCEMENT ADMINISTRATION REGISTRY NUMBER PROTECTION (§§ 23-66-701 — 23-66-702) › Section 23-66-701 - Legislative findings and intent

The General Assembly hereby finds that registry numbers issued to physicians by the United States Drug Enforcement Administration are protected numbers not intended for use by insurance companies and health maintenance organizations. Pharmacists are prohibited by law from selling or dispensing controlled substances without a physician's United States Drug Enforcement Administration registry number, and disclosure of the registry number to insurers is unwarranted and inappropriate. The intent of this subchapter is to prohibit insurance companies and health maintenance organizations from requiring physicians, pharmacists, or others to disclose a physician's United States Drug Enforcement Administration registry number.
Acts 1999, No. 1302, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 66 - TRADE PRACTICES (§§ 23-66-201 — 23-66-702) › Subchapter 7 - DRUG ENFORCEMENT ADMINISTRATION REGISTRY NUMBER PROTECTION (§§ 23-66-701 — 23-66-702) › Section 23-66-702 - Drug Enforcement Administration registry numbers - Definition

(a)
Health carriers shall not require physicians, pharmacists, or other persons or entities to disclose a physician's United States Drug Enforcement Administration registry number for the purposes of identification, payment to a pharmacist, reimbursement of a patient, or any other reason.
(b)
"Health carrier" means any insurance company or health maintenance organization subject to the following laws:
(1)
The Arkansas Insurance Code;
(2)
Section
23-76-101
et seq., pertaining to health maintenance organizations; and
(3)
Any successor laws of the foregoing.
(c)
Nothing in this section shall be construed to prohibit a health carrier, as part of the credentialing process, from requesting evidence that the physician has a valid United States Drug Enforcement Administration certificate.
Acts 1999, No. 1302, § 2.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-201 - Purpose

(a)
This chapter shall be liberally construed to achieve the purposes stated in subsection (b) of this section, which shall constitute an aid and guide to interpretation but not an independent source of power.
(b)
The purposes of this chapter are to:
(1)
Promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory;
(2)
Prohibit price-fixing agreements and other anticompetitive behavior by insurers;
(3)
Promote price competition among insurers so as to provide rates that are responsive to competitive market conditions;
(4)
Provide regulatory controls in the absence of competition;
(5)
Improve availability, fairness, and reliability of insurance;
(6)
Authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to lessen substantially competition or to create a monopoly;
(7)
Encourage the most efficient and economic marketing practices; and
(8)
Require the providing of price and other information to enable consumers to purchase insurance suitable for their needs and to foster competitive insurance markets.
Acts 1987, No. 959, § 2.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-203 - Scope

This chapter applies to all kinds of insurance written on risks in this state by any insurers authorized to do business in this state, except:
(1)
Life insurance;
(2)
Annuities;
(3)
Disability, including accident and health, insurance;
(4)
Ocean marine insurance;
(5)
Reinsurance;
(6)
Aircraft insurance;
(7)
Title insurance;
(8)
Workers' compensation and employers' liability insurance, except that the following provisions shall apply to these lines: §§
23-66-206
;
23-67-202(1), (4)
-(6), and (9)-(12);
23-67-204
;
23-67-205
;
23-67-208
;
23-67-214
;
23-67-215(a) and (c)
;
23-67-216
;
23-67-218
;
23-67-219
; and the Publisher's Note to Title 23, Chapter 67;
(9)
Motor vehicle service contracts, for so long as the motor vehicle service contract providers' exposures to their customers are fully insured by an insurer that is authorized to transact property and casualty insurance business in this state; or
(10)
Surplus lines insurance.
Acts 1987, No. 959, § 4; 1989, No. 772, § 11; 1993, No. 805, § 13; 2001, No. 1555, § 10.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-204 - Payment of dividends

Nothing in this chapter shall be construed to prohibit the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
Acts 1987, No. 959, § 7.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-205 - Penalties

(a)
Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this chapter, he or she shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by §
23-67-221
[repealed].
(b)
If, after a hearing, the commissioner determines that the person has violated a provision of this chapter, the commissioner shall issue a written order which, in his or her discretion, may do one (1) or more of the following:
(1)
Revoke the certificate of authority of the insurer or the license of the advisory organization;
(2)
Suspend the certificate of authority of the insurer or the license of the advisory organization; or
(3)
Require the payment of a monetary penalty of not more than one thousand dollars ($1,000) for each violation or a penalty of not more than ten thousand dollars ($10,000) for each violation if the commissioner has found willful violations.
Acts 1987, No. 959, § 18.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-206 - Exemptions

(a)
In a competitive market, property and casualty insurance for commercial risks, excluding workers' compensation, employers' liability, and professional liability insurance, including, but not limited to, medical malpractice insurance, are exempted from the rate filing and review provisions set forth in this chapter.
(b)
Risks or portions thereof which are not rated according to manuals, rating plans, or schedules including "a" rates, risks rated under the "referral to company" or "individual risk situations" rules, are exempted from the rate filing and review provisions set forth in this chapter. Insurers must maintain complete files on how they determined the rate for such risks and make these files available to the Insurance Commissioner upon request.
(c)
The commissioner, upon his or her own initiative or upon request of any person, by order, may exempt any market, segment, or line from any or all of the provisions of this chapter if and to the extent that he or she finds the exemption necessary to achieve the purposes of this chapter.
Acts 1987, No. 959, § 17; 1999, No. 458, § 1.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-207 - Noncompetitive market

(a)
If the Insurance Commissioner has cause to believe that a reasonable degree of competition does not exist in a market, the commissioner shall hold a hearing. In determining whether a reasonable degree of competition exists, insurers operating within that market shall have the burden of establishing that a reasonable degree of competition exists within that market.
(b)
(1)
The commissioner shall consider relevant tests of competition pertaining to market structure, market performance, and market conduct, and the practical opportunities available to consumers in the market to acquire pricing and other consumer information and to compare and obtain insurance from competing insurers.
(2)
These tests may include, but are not limited to, the following:
(A)
Size and number of insurers actively engaged in the market;
(B)
Market shares and changes in market shares of insurers;
(C)
Ease of entry into and exit from a given market;
(D)
Underwriting restrictions; and
(E)
Whether long-term profitability for insurers generally in the market is unreasonably high.
(c)
After the hearing, the commissioner shall issue an order as to his or her findings. This order shall expire no later than one (1) year after it is effective as provided in the order.
Acts 1987, No. 959, § 5.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-208 - Rate standards

(a)
Rates shall not be excessive, inadequate, or unfairly discriminatory.
(b)
A rate in a competitive market is assumed not to be excessive. A rate is excessive in a competitive or noncompetitive market if it is likely to produce a profit from Arkansas business that is unreasonably high in relation to past and prospective loss experience for that class of business which the filing affects or if expenses are unreasonably high in relation to services rendered.
(c)
A rate is clearly inadequate if, together with the investment income attributable to it, it fails to satisfy projected losses and expenses in the class of business to which it applies.
(d)
(1)
A rate is not unfairly discriminatory in relation to another in the same class of business if it reflects equitably the differences in expected losses and expenses. Rates are not unfairly discriminatory because different premiums result for policyholders with like loss exposures but different expense factors, or with like expense factors but different loss exposures, if the rates reflect the differences with reasonable accuracy.
(2)
A rate shall be deemed unfairly discriminatory as to a risk or group of risks if the application of premium discounts, credits, or surcharges among the risks does not bear a reasonable relationship to the expected loss and expense experience among the various risks.
Acts 1987, No. 959, § 6.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-209 - Rating criteria

(a)
Due consideration must be given to past and prospective loss and expense experience within and outside this state, to catastrophe hazards and contingencies, to events or trends within and outside this state, to loadings for leveling rates over a period of time, to dividends or savings to be allowed or returned by insurers to their policyholders, members, or subscribers, and to all other relevant factors. All submissions for rate changes or supplementary rate changes must include this information with Arkansas experience shown as well as companywide experience for the past five (5) years for the class of business which this filing affects. The determination of the weighting of credibility assigned to Arkansas must be fully explained. If, within a particular class, the data is not sufficiently credible for Arkansas or companywide, and common classes are grouped together for rate-making purposes, all class codes utilized in developing credibility shall be shown as an exhibit in the filing, with Arkansas experience for each class affected shown separately. If significant trends within the state are utilized, a narrative describing the basis of the trend must be included.
(b)
Risks may be classified in any reasonable way for the establishment of rates, except that no risks may be grouped by classifications based in whole or in part on race, color, creed, or national origin of the risk.
(c)
The expense provisions included in the rates to be used by any insurer shall reflect the operating methods of the insurer and its actual and anticipated expense experience.
(d)
The rates may contain provisions for contingencies and an allowance permitting a reasonable profit. In determining the reasonableness of the profit, consideration must be given to all investment income attributable to premiums and to the reserves associated with those premiums and to loss reserve funds.
Acts 1987, No. 959, § 6.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-210 - Rating plans

(a)
Rates may be modified to produce premiums for individual risks in accordance with filed rating plans which establish standards for measuring variations in hazards or expense provisions. Those standards may measure differences among risks that can be demonstrated to have a probable effect upon losses or expenses. The modification shall apply to all risks under the same or substantially the same circumstances or conditions.
(b)
This provision does not apply to filed modification plans which may be offered to an insured, including, but not limited to, retrospective rating plans and composite rating plans.
Acts 1987, No. 959, § 6.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 3 - INSURANCE (§§ 23-60-101 — 23-103-417) › Chapter 67 - RATES AND RATING ORGANIZATIONS (§§ 23-67-201 — 23-67-602) › Subchapter 2 - REGULATION OF INSURANCE RATES (§§ 23-67-201 — 23-67-223) › Section 23-67-212 - Procedural requirements

(a)
(1)
Rates filed pursuant to this section shall be filed in such form and manner as prescribed by the Insurance Commissioner.
(2)
An insurer may satisfy its obligation to file supplementary rate information or supporting information by filing a reference to a filing made by an advisory organization, with or without deviation.
(b)
Each filing and supporting nonproprietary information filed under this chapter shall, as soon as filed, be open to public inspection. Notwithstanding the provisions of the Freedom of Information Act of 1967, §
25-19-101
et seq., information which is a trade secret or of a proprietary nature, or both, shall not be open to public inspection.
Acts 1987, No. 959, § 7; 1997, No. 1000, § 5.