§ 23-66-314. Common ownership, management, and directors of insurance companies
(a) Any insurer may retain, invest in, or acquire the whole or any part of the capital stock of any other insurers, or have a common management with any other insurers, unless the retention, investment, acquisition, or common management is inconsistent with any other provision of the Arkansas Insurance Code, or unless by reason thereof […]
§ 23-66-315. Confidential information
(a) (1) When a borrower is required to maintain insurance and to furnish evidence of the insurance to a depository institution, an affiliate of a depository institution, creditor, mortgagee, assignee, or lender as a condition for obtaining or keeping the loan, the lender, mortgagee, assignee, or creditor is prohibited from disclosing to other persons or […]
§ 23-66-316. Advertising by health and accident insurers and prepaid health plans
(a) It shall be unlawful for any insurance company or association transacting any health and accident or hospital or surgical insurance or prepaid hospital and surgical or health care plan in this state, in violation of a prior order or rule of the Insurance Commissioner directed to the company or association, to make, issue, circulate, […]
§ 23-66-301. Misrepresentation or false claims or proofs
Any person shall upon conviction be punished as provided in § 23-60-108 who, knowing it to be such: (1) Presents or causes to be presented a false or fraudulent claim, or any false or fraudulent proof in support of a claim, for the payment of a loss under an insurance policy; (2) Prepares, makes, or […]
§ 23-66-302. False representations
Any person who makes any material false statement, representation, or pretense for the purpose of obtaining insurance business shall upon conviction be subject to the penalties provided in § 23-60-108.
§ 23-66-303. Intimidation or coercion of business
No person shall use intimidation or coercion as a means of securing insurance business.
§ 23-66-304. 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 […]
§ 23-66-305. Misrepresentations in application for insurance
(a) No agent, broker, solicitor, examining physician, or other person shall make a false or fraudulent statement or representation in, or relative to, an application for insurance. (b) Violations of this section shall be punishable under § 23-60-108.
§ 23-66-306. Misrepresentation of other policies
(a) No person shall make or issue, or cause to be made or issued, any written or oral statements misrepresenting or making incomplete comparisons regarding the terms or conditions or benefits contained in any policy or contract of insurance for the purpose of inducing or attempting to induce the owner of the policy or contract […]
§ 23-66-307. Actions required to replace a life insurance policy or annuity — Rules — Penalties
(a) The General Assembly finds that: (1) It is the public policy of this state that life and accident and health insurance producers shall provide reasonable and professional service to each insured or prospective insured; (2) Each producer is charged with the responsibility of exercising discretion and good faith in the sales presentation or transaction; […]