DRAFT 


LINE OF BUSINESS:

Burglary and Theft

LINE(S) OF INSURANCE

CODES

 

 

none

none

 

 

 

 

Code:

 

26.0000

 

 

 

 

 

 

 

 

 

 

IF CHECKLIST IS NOT APPLICABLE, PLEASE EXPLAIN:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVIEW REQUIREMENTS

REFERENCE

DESCRIPTION OF REVIEW

STANDARDS REQUIREMENTS

LOCATION OF STANDARD IN FILING

GENERAL REQUIREMENTS

 

 

 

FOR  ALL FILINGS

 

 

 

 

 

 

 COPIES,  RETURN ENVELOPES, ETC

Rule & Reg 23—12/18/02. This reg is scheduled to change in 2003. WORD   PDF

Include 1 copy of transmittal header (or cover letter) for each company included in filing and a return copy for the company.  Include a self-addressed, postage paid envelope large enough to accommodate the return copy.

 

 

 

 

 

 COVER LETTER

Rule & Reg 23—12/18/02. This reg is scheduled to change in 2003. WORD   PDF

 

12/18/02—At this time Arkansas will accept the abstracts required in current Rule and Reg 23 or the NAIC Uniform Transmittal Document and its related forms.  If the Uniform Transmittal document is used, no cover letter is necessary.

 

 

 

 

 

EFFECTIVE DATE WORDING

23-67-219  WORD PDF

(C)(i)  Every filing must be submitted for approval to the commissioner at least thirty (30) days prior to the proposed effective date. 

(ii)  Upon written request of the filer, the commissioner may authorize an earlier effective date. 

 

 

 

 

 

FILING SUBMISSION

 

 

 

 

 

 

 

 FREE CONTRACT PROHIBITED

 

 

 

 

 

 

 

 LIMITATIONS/RESTRICTIONS ON TRANSACTING BUSINESS

 

 

 

 

 

 

 

NO FILE OR FILING EXEMPTIONS

23-67-206 WORD PDF

 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. 

 

 

 

 

 

REVIEW

 

 

 

 NAIC #

Bulletin 8-90  WORD  PDF

NAIC #s are required on all correspondence, documents, reports, etc. filed by the insurer with the AR Insurance Dept.

 

 Line of Authority

23-62-106  WORD  PDF

   23-62-106. Surety insurance.

As used in the Arkansas Insurance Code, unless the context otherwise requires, "surety insurance" includes: 

(1)  Fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; 

(2)  Insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship; and 

(3)  Insurance indemnifying banks, bankers, brokers, and financial or moneyed corporations or associations against loss, resulting from any cause, of bills of exchange, notes, bonds, securities, evidences of debt, deeds, mortgages, warehouse receipts or other valuable papers, documents, money, precious metals and articles made therefrom, jewelry, watches, necklaces, bracelets, gems, precious and semiprecious stones, including any loss while they are being transported in armored motor vehicles or by messenger, but not including any other risks of transportation or navigation; also, insurance against loss or damage to an insured's premises or to his or her furnishings, fixtures, equipment, safes and vaults therein caused by burglary, robbery, theft, vandalism, or malicious mischief, or any attempt thereof. 

 

 

 

 

 

 

 THIRD PARTY FILERS AUTHORITY

 

A third party filer must be given permission by insurer to file on their behalf.  No specific code cite.

 

 

 

 

 

 TRANSACTING OTHER BUSINESS

 

 

 

 

 

 

 

FORMS: POLICY

PROVISIONS:

 

 

 

 

 

 

 

ACCESS TO COURTS

23-79-203  WORD  PDF

23-79-203. Trial by jury.(a)  No insurance policy or annuity contract shall contain any condition, provision, or agreement which directly or indirectly deprives the insured or beneficiary of the right to trial by jury on any question of fact arising under the policy or contract. (b)  All such provisions, conditions, or agreements shall be void.

 

 

 

 

 

 AMBIGUOUS & MISLEADING

 

 

 

 

 

 

 

APPLICATIONS

23-79-109(a)  WORD  PDF

23-79-109. Filing and approval of forms. (a)(1)(A)  No basic insurance policy, or annuity contract form, or application form where written application is required and is to be made a part of the policy or contract, or printed rider or endorsement form or form of renewal certificate, shall be issued, delivered, or used as to a subject of insurance resident, located, or to be performed in this state unless the form has been filed with and approved by the Insurance Commissioner and, in the case of individual accident and health contracts, the rates have been filed with and approved by the commissioner. 

 

 

 

 

 

 APPRAISALS

23-79-203  WORD  PDF

23-79-203. Trial by jury.(a)  No insurance policy or annuity contract shall contain any condition, provision, or agreement which directly or indirectly deprives the insured or beneficiary of the right to trial by jury on any question of fact arising under the policy or contract. 

(b)  All such provisions, conditions, or agreements shall be void. 

 

 

 

 

 

ARBITRATION

23-79-203  WORD  PDF

23-79-203. Trial by jury.(a)  No insurance policy or annuity contract shall contain any condition, provision, or agreement which directly or indirectly deprives the insured or beneficiary of the right to trial by jury on any question of fact arising under the policy or contract. 

(b)  All such provisions, conditions, or agreements shall be void. 

 

 

 

 

 

BANKRUPTCY PROVISIONS

23-89-102 Word    PDF;

Jarboe v. Shelter Ins. Co., 317 Ark. 395,877 S.W.2d 930 (1994)

Insurer’s liability is not affected by the insured’s insolvency; the filing of a petition in bankruptcy is not the type of immunity contemplated by this section.

 

BLANK ENDORSEMENTS

23-79-109  WORD  PDF

Forms must be filed. A form without specific language is not a complete form and can't be approved.  However, we will consider approving a "blank" form if the company will provide a detailed description of how the form will be used.

 

 

 

 

 

 CERTIFICATIONS

 

AR is a pilot state for self-certification.  However, the forms required have not been developed.  Contact Property & Casualty for additional info at (501)-371-2800.

 

 

 

 

 

 CONSUMER INFORMATION

 

 

 

CREDIT SCORING NOTICE

 

 

 

 Privacy notice

 

 

 

Required Warning

23-66-503  WORD  PDF

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. 

 

 Notification Form

Bulletin 6-87  WORD PDF

Requires the address & phone # of the Arkansas Insurance Dept in every policy.  The correct address is: Arkansas Insurance Dept., Consumer Services Division, 1200 W. 3rd St., Little Rock, AR  72201-1904;  Telephone 800-852-5494 or 501-371-2640

 

 

 

 

 

 CONTENT OF POLICIES

23-79-111  WORD  PDF

23-79-112  WORD  PDF

Too large to include entire code cite here.  Refer to the links to the left

 

 

 

 

 

 COUNTERSIGNATURES

Not Applicable

Resident countersignature requires were repealed several years ago

 

 

 

 

 

DECLARATIONS PAGE

No specific requirements

 

 

 

 

 

 

 DISCLOSURES

 

 

 

 

 

 

 

 DEFINITIONS

 

 

 

 

 

 

 

DISCRIMINATION

23-66-206(14)  WORD  PDF

This section too large to provide here.  Check link to left.

 

 

 

 

 

 

 

 

 

EXCLUSIONS & LIMITATIONS

 

 

 

 Terrorism

 

 

 

 Terrorism—certified acts

Bul. 13-2002 WORD    PDF  

Bulletin provides info on rate/form submission requirements.  See link at left for complete copy of bulletin.

 

FICTITIOUS GROUPS

23-66-304  WORD  PDF

Fictitious groups. (a) No insurer, whether an authorized or unauthorized insurer, shall make available through any rating plan or form any fire, casualty, or surety insurance to any person, firm, corporation, or association of individuals at any preferred rate, premium, or form of contract based upon any fictitious grouping of the firm, corporation, or association.  (b)  "Fictitious grouping" is defined and declared to be the grouping by membership, nonmembership, license, franchise, agreement, contract, or any other method or means wherein the person, firm, corporation, or association of individuals of a group may receive a preferred rate, premium, or form of insurance contract.  (c)  Nothing in this section shall apply to the State of Arkansas or any governmental unit thereof, including counties, school districts, municipalities, state agencies, or any other governmental subsidiary, to life or accident and health insurance or to annuity contracts, nor to any insurer that restricts its insurance coverage to members of a particular association or organization with which the insurer is directly affiliated. 

 

 

 

 

 

FORMS MISCELLANEOUS

23-79-109  WORD  PDF

(General requirement that forms be filed).  This section too large to provide here.  Check link to left.

 

 

 

 

 

FRAUD WARNING

23-66-503  WORD  PDF

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. 

 

 

 

 

 

LIMITS

 

 

 

 

 

 

 

 LOSS PAYEE

 

 

 

 

 

 

 

LOSS SETTLEMENTS

 

 

 

 Appraisal

23-79-203(a)   WORD  PDF                  Bulletin 19-89  WORD  PDF

Trial by jury.(a)  No insurance policy or annuity contract shall contain any condition, provision, or agreement which directly or indirectly deprives the insured or beneficiary of the right to trial by jury on any question of fact arising under the policy or contract. 

(b)  All such provisions, conditions, or agreements shall be void. 

 

Action Against Company

23-79-203(a)   WORD  PDF                  Bulletin 19-89  WORD  PDF