§ 23-63-1616. Limitations
(a) The Arkansas Insurance Code does not apply to captive insurance companies except for those provisions contained in or specifically referenced in this subchapter that are to be incorporated into the Arkansas Insurance Code. (b) The Insurance Commissioner may exempt by rule or other order special purpose captive insurance companies on a case-by-case basis from […]
§ 23-63-1709. Authority to adopt rules
The Insurance Commissioner may promulgate rules necessary to carry out the purpose and intent of this subchapter.
§ 23-63-1617. Reorganizations, receiverships, and injunctions
Except as provided in this subchapter, the terms and conditions in the Arkansas Insurance Code pertaining to insurance reorganizations, receiverships, and injunctions apply to captive insurance companies formed or licensed under this subchapter.
§ 23-63-1801. Definitions
As used in this subchapter: (1) “Covered person” means a person on whose behalf a health care insurer offering health insurance coverage is obligated to pay benefits or provide services; (2) “Healthcare insurer” means an entity subject to the insurance laws of this state or the jurisdiction of the Insurance Commissioner that contracts or offers […]
§ 23-63-1618. Availability of funds
In the case of a producer reinsurance captive insurance company or a sponsored captive insurance company: (1) The assets of the protected cell may not be used to pay any expenses or claims other than those attributable to the protected cell; and (2) Its capital and surplus must be available to pay any expenses of […]
§ 23-63-1802. Time for recoupment
(a) (1) Except in cases of fraud committed by a healthcare provider, a healthcare insurer may exercise recoupment from a healthcare provider only during the eighteen-month period after the date that the healthcare insurer paid the claim submitted by the healthcare provider. (2) A healthcare provider may submit a corrected claim for up to six […]
§ 23-63-1620. Sponsored captive insurance company — Requirements
(a) One (1) or more sponsors may form a sponsored captive insurance company under this subchapter. (b) (1) A sponsor of a sponsored captive insurance company may be any person approved by the Insurance Commissioner, in his or her discretion, based on a determination that the approval of the person as a sponsor is consistent […]
§ 23-63-1803. Persons not covered
(a) If a health care insurer determines that payment was made for services not covered under the covered person’s health insurance coverage, the health care insurer shall give written notice to the health care provider of its intent to exercise recoupment and may: (1) Request a refund from the health care provider; or (2) Make […]
§ 23-63-1621. Participants
(a) An association, corporation, limited liability company, partnership, trust, or other business entity may be a participant in a sponsored captive insurance company formed or licensed under this subchapter. (b) A sponsor may be a participant in a sponsored captive insurance company. (c) A participant need not be a shareholder of the sponsored captive insurance […]
§ 23-63-1622. Producer reinsurance protected cell requirements
A producer reinsurance captive insurance company formed or licensed under this subchapter may establish and maintain one (1) or more protected cells to insure risks, subject to the following conditions: (1) Each protected cell must be accounted for separately on the books and records of the producer reinsurance captive insurance company to reflect the financial […]