§ 23-66-318. Claims or loss histories — Provision for copies to named insureds
(a) (1) A vendor of loss history information shall make all disclosures and furnish the reports without charge to the insured if within thirty (30) days after receipt by the insured of a notification of declination, cancellation, nonrenewal, or reduction in coverage the insured so requests. (2) Otherwise, the vendor of loss history information may […]
§ 23-66-319. Cancellation of insurance policies by third parties
(a) Anyone holding the right to request cancellation of the named insured’s insurance policy, other than the insurer, shall send to the insured and to the insured’s agent or broker of record at least ten (10) days’ written notice of the intention to cancel the policy. The right to be mailed this notice is personal […]
§ 23-66-320. Genetic Nondiscrimination in Insurance Act
(a) This section shall be known and may be cited as the “Genetic Nondiscrimination in Insurance Act”. (b) For the purposes of this section: (1) “Disability insurance” means insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the expense thereof, or against disablement or expense resulting from sickness, […]
§ 23-66-321. Method of payment of claims
All claims paid by an insurer authorized to do business in this state to any person having a claim under any insurance contract for any type of insurance authorized by the laws of this state issued by an insurer shall be paid by check or draft of the insurer to the order of, or by […]
§ 23-66-308. Rebates, discounts, abatements, etc
(a) No property, casualty, or surety insurer or any employee thereof and no broker, agent, or solicitor shall pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, as an inducement to insure or after insurance has been effected, any rebate, discount, abatement, credit, or reduction of the premium named in […]
§ 23-66-309. Charge for substitution of policy
No person engaged in the business of financing the purchase of real or personal property or of lending money on the security of real or personal property and no trustee, director, officer, agent, or other employee of the person shall directly or indirectly require that a borrower pay a consideration of any kind to substitute […]
§ 23-66-310. Illegal dealing in premiums — Excess charges for insurance
(a) No person shall willfully collect any sum as a premium or charge for insurance that is not then provided or is not in due course to be provided, subject to acceptance of the risk by the insurer, by an insurance policy issued by an insurer as authorized by the Arkansas Insurance Code. (b) (1) […]
§ 23-66-311. Business development compensation to life policyholders
No life insurer shall discriminate between its policyholders by allowing, or agreeing to allow, to any policyholder, whether as an individual or as a member of a class, a portion or percent of any premium collected by the insurer from any policyholder on the pretense of making the policyholder an agent of the insurer or […]
§ 23-66-312. Favored agent or insurer — Coercion of debtors
(a) No person, including, but not limited to, depository institutions and affiliates of depository institutions, primary and secondary mortgagees, vendors, or lenders may: (1) Unreasonably disapprove the insurance policy or binder provided by a borrower for the protection of the property securing the credit or lien; (2) (A) Require, directly or indirectly, that any borrower, […]
§ 23-66-313. Overwriting contracts of life insurer
(a) No life insurer shall pay or contract to pay, directly or indirectly, to its president, vice president, secretary, treasurer, actuary, or medical director or other physician charged with the duty of examining risks or applicants for insurance, except regular fees paid for making examinations, nor shall the insurer pay to any officer of the […]