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For more
information please click on the headings below to link to the appropriate
division.
Administration
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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Accounting
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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Consumer Services
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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Criminal Investigation
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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Finance
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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Human Resources
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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Information Systems
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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Legal
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. Additionally, this Division provides
services to the public including giving advice, counsel, and information to
consumers who write or call the Department concerning insurance matters.
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License
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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Liquidation
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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Life and Health
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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Property and Casualty
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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Public Employment Claims
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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Risk Management
The Risk
Management Division secures property, commercial, auto, aircraft, fine
arts, inland marine, and specialty lines insurance coverage for State
agencies and schools. The division
also analyzes and makes recommendations on loss control and safety
programs, and provides insurance coverage to public schools that choose to
participate in the Public School Property and Vehicle Insurance Trust.
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Senior Health Insurance Information Program (SHIIP)
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. SHIIP also provides education programs
for Healthcare professionals throughout the State. 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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