Arkansas Insurance Department

Property & Casualty Division

 

As of June 1, 2003, Arkansas is participating under an alternative form filing program that provides an insurance company the option of certifying that a form filing complies with all Arkansas laws for the particular filing.  It is designed for routine filings and not for filings that may contain controversial or new products.

 

Arkansas has not yet promulgated a bulletin describing the self-certification program but anticipates it will be substantially similar to  the NAIC model bulletin which will outline the uses and parameters of the pilot program.  Our bulletin should be promulgated soon after the NCCI bulletin is finalized.

 

In our effort to enhance our speed to market program while maintaining the high review standards presently brought to bear to the review of each filing, Arkansas, has endeavored to enhance insurance companies access to various resources that both assist with filing a product and assure it complies with Arkansas law.

 

Currently, the only filings that are not reviewed within 20 days for rates and 30 days for forms are those filings that contain incomplete information and data to allow a review.

 

The CERTIFICATION FORM can be downloaded in Word or Adobe Acrobat formats.

 

Other links that offer resources for those seeking to use the certificate of compliance are:

 

Property and Casualty Checklist Page – contains the complete product requirements for each line of property or casualty business.

 

NAIC Product Requirements Locator Database – contains Arkansas checklist in a searchable database by product type. It also contains legal citations for these requirements as well as links to the actual legal language. This database also contains the requirements from several other states so that the product filer can more efficiently file in two or more jurisdictions.

 

Property and Casualty Related Laws - contains the following information relating to property or casualty insurance:

Arkansas Insurance Code

Specific Orders

Rules and Regulations

Directives

Bulletins

Workers’ Compensation Code

 

Information on policy forms and rate filings – Rates and Forms that have been filed with the Department can be searched using the database available through this link.

Helpful forms  for rate and form filing analysts

Transmittal Header Form for rate and form filing analysts.  This is an intelligent pdf form which allows the user to fill in the blanks and send the form digitally or print it out for mailing.  Please refer to the  transmittal header form instructions for additional information on how to use the form.  We also participate in the NAIC Uniform Product Coding Matrix for describing lines of insurance when making a rate or form filing.

SERFF - System for Electronic Rate and Form Filing - Is designed to provide improved efficiency through today's technology to insurance company rate and form filing analysts. Insurance companies are able to file forms electronically an reduce the time and cost involved in making regulatory filings.

Monthly Metrics Reports – We monitor and compile statistics on the review time for all rate and form filings.

 

 

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