§ 23-67-410. Indemnification
(a) An insurer shall indemnify, defend, and hold agents harmless from and against all liability, fees, and costs arising out of or relating to the actions, errors, or omissions of a producer who obtains or uses credit information or credit scores, or both, for an insurer, provided the producer follows the instructions of or procedures […]
§ 23-67-411. Sale of policy term information by consumer reporting organization
(a) (1) No consumer reporting agency shall provide or sell data or lists that include any information that, in whole or in part, was submitted in conjunction with an insurance inquiry about a consumer’s credit information or a request for a credit report or credit score. (2) The information includes, but is not limited to: […]
§ 23-67-412. Fair Credit Reporting Act
The provisions of this subchapter shall be subject to the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.
§ 23-67-413. Individual underwriting allowed
Nothing in this subchapter is intended to prevent an insurer from considering each risk on an individual basis, looking at individual risk characteristics and other factors predictive of future loss.
§ 23-67-414. Rules
The Insurance Commissioner may make reasonable rules necessary for or as an aid to the effectuation of any provision of this subchapter.
§ 23-67-401. Title
This subchapter shall be known and may be cited as the “Use of Credit Information in Personal Insurance Act”.
§ 23-67-402. Purpose
The purpose of this subchapter is to regulate the use of credit information for personal insurance so that consumers are afforded certain protections with respect to the use of the information.
§ 23-67-403. Scope
This subchapter applies to personal insurance and not to commercial insurance or any other type of insurance.
§ 23-67-404. Definitions
For the purposes of this subchapter: (1) “Adverse action” means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of any insurance, existing or applied for, in connection with the underwriting of personal insurance; (2) “Affiliate” means […]
§ 23-67-405. Use of credit information
An insurer authorized to do business in Arkansas that uses credit information to underwrite or rate risks shall not: (1) Use a credit score that is calculated using income, gender, address, zip code, ethnic group, religion, marital status, or nationality of the consumer as a factor; (2) Deny, cancel, or nonrenew a policy of personal […]