Please click
on the headings below
to link to the appropriate division page.
The work
of the Arkansas
Insurance Department (the Department) impacts every business, family
and household in the State of Arkansas. The Department's mission is
consumer protection through insurer solvency and market conduct
regulation, and fraud prosecution and deterrence.
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The
Accounting Division
oversees all aspects of funding within the Department, including the
biennium and annual budget process. The Division also audits and
collects premium taxes and assessments.
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The
Consumer Services
Division is designed to assist consumers with questions or problems
relating to insurance coverage. This
includes working to educate consumers on how to shop for insurance
products and how to recognize the value of insurance.
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The
Criminal
Investigation Division investigates and prosecutes all types of
insurance fraud. The Division has full
police powers as well as the power to issue subpoenas, compel the
production of documents, and administer oaths.
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The
Finance Division is
charged with the Department's core mission of protecting insurance
consumers through effective financial solvency regulation. This
Division is responsible for the Department's financial examination and
periodic monitoring of all Arkansas
domestic insurance companies.
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The Human
Resources
Division is charged with ensuring compliance with the State’s
personnel policies and procedures in accordance with state and federal
laws, and is responsible for recruiting and hiring, payroll, employee
benefits, personnel budget preparation and management, employee
training and continuing education.
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The Health Benefits
Exchange Division is federally
funded through a grant from the U.S. Department of Health & Human
Services.
The Patient Protection and Affordable Care Act (PPACA) became law on
March 23,
2010. PPACA provides for the establishment of Health Benefit Exchanges
to help
individuals, families and small businesses shop for health insurance
coverage
in a way that permits easy comparison of available insurance plans
based on
price, benefits, services and quality.
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The Health
Insurance Premium Rate Review (HIPRR) Division is federally funded
through a
grant from the U.S. Department of Health & Human Services. The
Affordable
Care Act (ACA) requires the establishment of a process for the review
of health
insurance premiums in order to protect consumers from unreasonable rate
increases. HIPRR is responsible for collecting, storing, analyzing,
tracking,
and reporting comprehensive rate review data to the federal government,
as well
as the public, to achieve both transparency and consumer protection
through
education and outreach.
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The
Information Systems
Division is the Department’s hub of technological advancement and
support. The cornerstone of technology
support of insurance regulation is the continued application of new
technology to minimize the size of the Department staff while
maximizing the productivity and effectiveness of the staff.
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The
primary
responsibility of the Legal Division is to serve as legal counsel for
the Department and to assist the Commissioner in drafting legislation,
rules, bulletins, directives, legal opinions, administrative
declaratory orders, and various other notices and orders.
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The
License Division is
responsible for the licensing and appointment of resident and
nonresident producers and agencies that are soliciting or selling
insurance in the State of Arkansas. The Division licenses individuals
and business entities as agent producers, broker producers, adjusters,
consultants, surplus lines producers, third party administrators and
both viatical providers and brokers.
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The Life
and Health
Division is responsible for review and approval of forms, rates and
advertising. All insurers transacting life and health insurance
business in the State of Arkansas must submit their forms, rates and
advertising to ensure they meet statutory requirements of format,
content, and clarity.
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The
Liquidation Division
manages the day-to-day affairs of insolvent insurance company estates
and pre-paid funeral benefit trusts, and administers the Arkansas
Property and Casualty Guaranty Fund (APCGF)
and the Arkansas Life and Health Insurance Guaranty Association
(ALHIGA).
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The
Property and Casualty
Division is responsible for monitoring and regulating rate and form
activities. All insurers transacting business in the State of Arkansas
for marine, surety, and property and casualty coverage must submit rate
and form filings to this Division for review. Arkansas
is considered a “competitive rating state” and as such,
requests for rate changes are effective 20 days after they are filed
unless changes are excessive, inadequate or unfairly
discriminatory.
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The
Public Employee
Claims Division is responsible for the investigation, determination,
payment, management, and administration of the workers’
compensation claims filed by Arkansas State employees.
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The mission of the Risk Management
Division is to minimize the cost of insurance and surety bonding to
state agencies and participating school districts. Risk Management also
analyzes and makes recommendations regarding cost effective loss
control and safety programs in an effort to protect state assets.
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SHIIP is
federally funded through a grant from the Centers for Medicare and
Medicaid Services (CMS). SHIIP provides information, education and
counseling to all Arkansans with Medicare. The education,
information and counseling provided by SHIIP covers Medicare
information, Medicare Supplemental insurance coverage, retiree
coverage, Medicare Prescription Drug Program, Long-Term Care insurance,
general adult Medicaid, and referrals to local resources.
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