Arkansas Administrative Code › Agency 054 - Arkansas Insurance Department › Rule 054.00.05-002 - Rule 61: Insurer Reports of Arkansas Property and Casualty Claims Experience Pursuant to Act 166 of 1993

Current through Register Vol. 49, No. 6, June, 2024
SECTION
		  1.
PURPOSE.
The purpose of this Rule is to promulgate guidelines for licensed
			 property and casualty insurers to follow in reporting Arkansas claims
			 experience, premium income, and other related information on property and
			 casualty policies and contracts; and to specify the format and content of the
			 reporting form for the annual reports required by Act 166 of 1993, codified at
			 Ark. Code Ann. §§
								23-63-1201,
et seq.
Further, the Arkansas Insurance Department shall
			 compile, publish and make available the reports as to any particular insurer
			 and year to any interested insured or citizen or their legal
			 representatives.
SECTION 2.
AUTHORITY AND SCOPE.
This Rule is promulgated pursuant to the Commissioner's authority
			 under Ark. Code Ann. §
								23-63-1201,
			 §
								23-61-108, the
			 Administrative Procedure Act, codified at §§
								25-15-201,
et seq.,
and other applicable laws. It is intended to apply to
			 all licensed property and/or casualty insurers holding an Arkansas Certificate
			 of Authority. It is not intended to apply to and shall not apply to foreign or
			 alien registered risk retention groups, registered purchasing groups,
			 automobile clubs or associations, or approved but not admitted surplus line
			 insurers.
SECTION 3.
EFFECTIVE DATE.
This Rule shall be effective on September 1, 2005, upon filing
			 with Arkansas Secretary of State and the Arkansas State Library, pursuant to
			 the provisions of Ark. Code Ann. §§
								25-15-201, et
			 seq., as amended by Act 1106 of 1993.
SECTION 4.
REPORTING
		  REQUIREMENTS.
(a) COMPILATIONS.
		  Commencing on and after January 1, 1994, all licensed property and casualty
		  insurers shall keep records of and compile the following data on its direct
		  writings in this State, and in particular on all Arkansas loss claims reported
		  and incurred but not reported, as to personal and commercial policies and
		  contracts covering Arkansas risks, including those multi-state policies
		  covering Arkansas persons or properties, or activity or business
		  operations.
(b) REPORTING.
(1) REPORT FORM. The reporting form as
		  prescribed by the Commissioner, Form
"AR 166"
shall accompany the
		  mailing of this Rule to all licensed property and casualty insurers, and
		  insurers shall duplicate the form and complete it for filing. An electronic
		  version of the form may be found on the Department's website for those desiring
		  to submit the form as an attachment to an email, on a cdr disk (CD = write one
		  time, read multiple times), or a cdrw disk (CD = write and read multiple
		  times). The claims reports are due no later than May 1st annually, unless the
		  Commissioner has granted a time extension for good cause shown, after receiving
		  such written requests from the insurer in advance of the May 1st annual
		  deadline.
(2) FILINGS. In lieu of a
		  hard copy report filing, filing of the annual reports required by this Rule may
		  be performed by submitting the filing in Microsoft EXCEL format, or Openoffice
		  spreadsheet format as an attachment to an email, on a cdr, or a cdrw disk.
		  Email submissions shall be sent to: AR166@Arkansas.gov or to its successor
		  address, if any, published on the Department's website from time to time.
		  Submissions through email or the System for Electronic Rate and Form Filings
		  (SERFF) are encouraged and appreciated. However, all forms submitted through
		  email or on disk will not be considered received until the filing fee is
		  received by the Department; see Section 4(f),
infra,
for
		  additional information.
(3) FILINGS
		  BY LICENSED RATE SERVICE OR ADVISORY ORGANIZATIONS. Pursuant to Ark. Code Ann.
		  §§ 23-67-116(2) and (13), licensed rate service or advisory
		  organizations may file reports required by this Rule on behalf of a member or
		  subscriber insurer.
(c)
		  WAIVER OF REPORTS. Timely written requests filed with the Commissioner before
		  the due date asking his consideration for waiver of the reporting requirements
		  on an annual basis shall be considered and granted for good cause shown for
		  licensees under the following circumstances:
(1) Insurers currently under court-ordered
		  conservation, rehabilitation, or liquidation in their domiciliary states;
(2) insurers whose Arkansas
		  Certificate of Authority has been suspended, expired or revoked, or cancelled
		  upon voluntary surrender; and
(3)
		  insurers under orders of supervision or conservation issued by the domiciliary
		  insurance commissioner, director or superintendent. The Commissioner may grant
		  such waivers upon his own initiative by taking judicial notice of property and
		  casualty insurers under license suspensions or supervision in any state, under
		  a suspended or expired or revoked or cancelled Arkansas license, or under any
		  court-ordered conservation or rehabilitation or liquidation in any
		  state.
(d) "ZERO"
		  REPORTS REQUIRED. Other than insurers who have obtained waiver of the reports
		  from the Commissioner as described in Section (c) above, property and/or
		  casualty insurers with Arkansas Certificates of Authority listing a
		  "reinsurance only" restriction, and direct writers with no direct-written
		  Arkansas premiums in the reporting year, and insurers with no Arkansas losses
		  (incurred and reported, and incurred but not reported) to report under Arkansas
		  policies or contracts for the reporting period, shall all nonetheless be
		  responsible for and shall continue to file the annual forms, but shall complete
		  them by reporting "zero" under the appropriate sections. The filing fee, as set
		  forth in subsection (f) below, is still required for "zero" reports.
(e) PENALTIES. Any insurer failing to file
		  the annual report when due in the absence of a time extension or waiver granted
		  by the Commissioner, or any insurer filing a false or fraudulent report shall
		  be deemed to have committed a Trade Practice violation under Ark. Code Ann.
		  §
								23-66-205,
		  §
								23-66-206(5),
		  and other applicable laws; and shall be subject to the penalties recited in
		  Ark. Code Ann. §
								23-66-210,
		  including suspension or revocation of the Arkansas Certificate of Authority,
		  and monetary fines and other applicable provisions of the Arkansas Insurance
		  Code.
(f) FILING FEES; DEPOSIT OF
		  FEES AND FINES. The annual filing fee shall be $50 per insurer pursuant to the
		  provisions of Act 652 of 1993. Insurer holding companies shall not file a
		  consolidated report. All such filing fees are payable by company check, money
		  order, and/or cashiers or certified check, and shall be payable to The State
		  Insurance Department Trust Fund ("Trust Fund"). Upon collection the
		  Commissioner shall immediately deposit all such fees into The Trust Fund as
		  special revenues. Fines and other monetary penalties shall be deposited as
		  other applicable Arkansas laws provide. All forms submitted through email or on
		  disk will not be considered as received until the filing fee is received by the
		  Department. Any filer submitting the form through SERFF may transmit the filing
		  fee by using its electronic funds transfer feature.
(g) COMMISSIONER'S ANNUAL PUBLICATION. The
		  Commissioner shall compile and make available to the public the reports filed
		  by each licensee as required by Ark. Code Ann. §
								23-63-1204
		  and the provisions of this Rule. The Commissioner shall also file copies
		  annually with the Governor of the State of Arkansas, the Arkansas Legislative
		  Council, the Arkansas Secretary of State, the Arkansas State Library, and the
		  National Association of Insurance Commissioners. Fees payable to obtain the
		  annual reports shall be made payable to The State Insurance Department Trust
		  Fund by personal check, cashiers or certified checks, money orders or cash.
		  Upon collection, the Commissioner shall deposit such payments immediately into
		  The Trust Fund.