§ 23-88-306. Provisions of plan
(a) (1) The plan shall provide for the efficient, economical, and fair administration of the Arkansas Rural Risk Underwriting Association and shall be consistent with the purposes of this subchapter. Therefore, the plan shall include provisions for the equitable apportionment among the association’s members of the expenses, profits, and losses arising from the association’s rural […]
§ 23-88-307. Liability of insurer
It being the intention of this subchapter to provide an adequate market for the property insurance coverages defined in this subchapter, no insurer participating in this plan shall be liable for any damages which may result from any extra-contractual liability or for any act or omission of any kind, the insurer’s liability being limited solely […]
§ 23-88-308. Commissioner’s powers and duties
(a) In addition to approving the plan of operation, the Insurance Commissioner shall have the authority to promulgate rules necessary to effect the purpose of this subchapter. (b) Further, after review of annual statements, other reports, and any other statistics which the commissioner deems necessary, the commissioner shall certify to the plan the aggregate net […]
§ 23-88-309. Appeals
Any applicant for a policy, any persons insured under the plan, and any agency or insurer affected by the plan may appeal to the Insurance Commissioner any ruling or decision of the governing board or the authorized representative designated to operate a plan.
§ 23-88-401. Title
This subchapter may be referred to as the “Fire Loss Reporting Act of 2003”.
§ 23-88-404. Notice regarding fire protection
(a) In an effort to educate policyholders of the benefits of fire protection, every insurance company shall include in the premium notice to policyholders the following notice: (b) The notice prescribed by subsection (a) of this section shall be in 12-point type or larger. “IMPORTANT NOTICE REGARDING FIRE PROTECTION Did you know that the firefighting […]
§ 23-88-405. Rules
The Insurance Commissioner may adopt reasonable rules to enforce the provisions of this subchapter.
§ 23-88-501. Definitions
As used in this subchapter: (1) “Customer” means a person who purchases portable electronics or services; (2) “Enrolled customer” means a customer who elects to have coverage under a portable electronics insurance policy issued by a vendor; (3) “Location” means, as directed to residents of the State of Arkansas: (A) A physical location in this […]
§ 23-88-502. Licensure of vendors
(a) A vendor is required to hold a limited lines license to sell or offer coverage under a portable electronics insurance policy. (b) A limited lines license issued under this subchapter shall authorize an employee or authorized representative of the licensee to sell or offer coverage under a policy of portable electronics insurance to a […]
§ 23-88-503. Requirements for sale of portable electronics insurance
(a) At a location where portable electronics insurance coverage is offered to customers, a prospective customer shall receive written disclosure that states: (1) Portable electronics insurance may provide duplication of coverage provided by a customer’s homeowner’s insurance policy, renter’s insurance policy, or other source of coverage; (2) The enrollment by the customer for portable electronics […]