§ 23-96-117. Detection and prevention of insolvencies or impairments
To aid in the detection and prevention of member insurer insolvencies or impairments: (1) The Insurance Commissioner shall: (A) (i) Notify the commissioners of all the other states, territories of the United States, and the District of Columbia when he or she takes any of the following actions against a member insurer: (a) Revocation of […]
§ 23-96-118. Duties and powers of Insurance Commissioner
(a) In addition to the duties and powers enumerated elsewhere in this chapter: (1) The Insurance Commissioner shall: (A) Upon request of the Board of Directors of the Arkansas Life and Health Insurance Guaranty Association, provide the Arkansas Life and Health Insurance Guaranty Association with a statement of the premiums in this and any other […]
§ 23-96-119. Distributions of ownership rights
(a) (1) (A) Before the termination of any liquidation, rehabilitation, or conservation proceeding, the court may take into consideration the contributions of the respective parties, including the Arkansas Life and Health Insurance Guaranty Association, the shareholders, contract owners, certificate holders, enrollees, and policy owners of the insolvent insurer, and any other party with a bona […]
§ 23-96-120. Payment of premiums
(a) Nonpayment of premiums within thirty-one (31) days after the date required under the terms of any guaranteed, assumed, alternative, or reissued policy or contract or substitute coverage shall terminate the Arkansas Life and Health Insurance Guaranty Association’s obligations under the policy, contract, or coverage under this chapter with respect to the policy, contract, or […]
§ 23-96-105. Advertisement of association act in insurance sales — Notice to policy owners
(a) (1) A person, including a member insurer, agent, or affiliate of a member insurer, shall not make, publish, disseminate, circulate, or place before the public, or cause, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a […]
§ 23-96-121. Reissuance of terminated coverage
(a) If the Arkansas Life and Health Insurance Guaranty Association elects to reissue terminated coverage at a premium rate different from that charged under the terminated policy or contract, the premium shall be actuarially justified and set by the association according to the amount of insurance or coverage provided and the age and class of […]
§ 23-96-106. Scope of chapter
(a) This chapter shall not provide coverage for: (1) A portion of a policy or contract not guaranteed by the member insurer, or under which the risk is borne by the policy owner or contract owner; (2) A portion of a policy or contract of reinsurance, unless assumption certificates have been issued under the reinsurance […]
§ 23-96-107. Coverage
(a) This chapter shall provide coverage for the policies and contracts specified in subsection (b) of this section to: (1) Persons who, regardless of where they reside, except for nonresident certificate holders under group policies or contracts, are the beneficiaries, assignees, or payees, including healthcare providers rendering services covered under health insurance policies or certificates […]
§ 23-96-108. Immunity
(a) The following are not liable for or subject to any cause of action resulting from an act or omission by them in the performance of their powers and duties under this chapter: (1) A member insurer or its agents or employees; (2) The Arkansas Life and Health Insurance Guaranty Association or its agents or […]
§ 23-96-109. Creation of the association — Examination — Annual report — Tax exemption — Board of directors
(a) (1) (A) There is created a nonprofit legal entity to be known as the “Arkansas Life and Health Insurance Guaranty Association”. (B) All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. (C) The association […]