§ 23-103-417. Access to public records
(a) A title insurance agent, a title insurance agency, and a person affiliated with a title insurance agency shall: (1) Have free access to the instruments of record affecting real property filed in any city, county, or state office; and (2) Be permitted to: (A) Occupy reasonable space, use equipment, and make memoranda, notations, and […]
§ 23-103-404. Authorized activities of title insurers
(a) Subject to the exceptions and restrictions contained in this subchapter, a title insurer may: (1) Transact only title insurance business; (2) Reinsure title insurance policies; and (3) Unless prohibited by the Insurance Commissioner, perform or cause to be performed ancillary activities whether or not in contemplation of or in conjunction with the issuance of […]
§ 23-103-405. Title insurers — Limitation of authority — Powers
(a) (1) An insurer that transacts any class, type, or kind of insurance other than title insurance is not eligible for the issuance or renewal of a license to transact title insurance business in this state. (2) Title insurance shall not be transacted, underwritten, or issued by any insurer transacting or licensed to transact any […]
§ 23-103-406. Title insurance agents — Examination of records
The Insurance Commissioner or title insurer during normal business hours may examine, audit, and inspect any and all books, records, files, and escrow and operating accounts related to title insurance reports and policies maintained by a title insurance agency, its successor in interest, transferee, or receiver under this subchapter.
§ 23-102-110. Coverages accessible through Arkansas Earthquake Authority
(a) As long as the Market Assistance Program has at least one (1) approved insurer, no residential earthquake coverage shall be issued by the Arkansas Earthquake Authority, except as provided in subsection (b) of this section. (b) If there are no approved insurers in the program or if after notice and hearing, the Board of […]
§ 23-102-111. Administration of Arkansas Earthquake Authority
(a) The Board of the Arkansas Earthquake Authority may either appoint an Executive Director of the Arkansas Earthquake Authority or may select a Plan Administrator of the Arkansas Earthquake Authority. If an executive director is chosen, he or she shall hire all staff necessary to enable him or her to discharge the duties imposed under […]
§ 23-102-112. Funding
(a) Rates. (1) The Arkansas Earthquake Authority shall establish rates for plan coverage. These rates and rating schedules may be adjusted for appropriate factors such as geographical variation in claim costs, retrofitting, and other mitigation efforts and shall take into consideration appropriate factors in accordance with established actuarial and underwriting practices. (2) The rates charged […]
§ 23-102-113. Policy standards
(a) The Arkansas Earthquake Authority shall offer a residential earthquake policy with dwelling coverage in amounts up to one hundred thousand dollars ($100,000). (b) Coverage for personal property and additional living expenses shall be provided as determined by the Board of the Arkansas Earthquake Authority in the plan of operation. (c) The applicable deductible for […]
§ 23-102-114. Notice and declination
(a) Existing Policyholders. (1) (A) Insurers writing homeowner, farmowner, fire and allied lines, excluding commercial policies and crop hail, shall notify policyholders who do not maintain residential earthquake insurance or who maintain residential earthquake insurance at amounts less than one hundred percent (100%) of the insured value of the dwelling, of their potential eligibility for […]
§ 23-102-115. Appeal
Any applicant for a policy, any persons insured under the Market Assistance Program or the Arkansas Earthquake Authority, and any agency or insurer affected by the program or authority may appeal to the Insurance Commissioner any ruling or decision of the Board of the Arkansas Earthquake Authority, and the commissioner may consider the appeal under […]