§ 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 […]
§ 23-102-116. Rules
The Insurance Commissioner is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of this chapter.
§ 23-100-106. Rules
The Insurance Commissioner may promulgate reasonable rules deemed necessary for the administration of this chapter.
§ 23-102-101. Short title
This chapter shall be known and may be cited as the “Arkansas Earthquake Authority Act”.
§ 23-100-107. State Insurance Department Criminal Investigation Division Trust Fund — Department vouchers and Auditor of State warrants
(a) All antifraud assessments, penalties, and revenues provided in this chapter received as special revenues for the State Insurance Department Criminal Investigation Division Trust Fund and deposited therein shall be deemed for all purposes special revenues of the fund and of the State Insurance Department for the sole support, operation, and maintenance of the Criminal […]
§ 23-102-102. Legislative findings and intent
(a) The threat of or the actual occurrence of a major earthquake poses serious consequences for the State of Arkansas and its citizens. Of particular concern is the magnitude of damage to residential homeowner and farmowner dwellings and whether or not these structures are adequately insured. (b) The market for residential earthquake insurance within the […]
§ 23-101-101. Purpose
The purposes of this chapter are to: (1) Promote the public welfare by regulating creditor-placed insurance; (2) Create a legal framework within which creditor-placed insurance may be written in this state; and (3) Minimize unfair competitive practices in the sale of creditor-placed insurance.
§ 23-101-102. Scope
(a) This chapter applies to an insurer or producer transacting creditor-placed insurance as defined in this chapter. (b) All creditor-placed insurance written in connection with credit transactions for personal, family, or household purposes is subject to the provisions of this chapter, except: (1) Transactions involving extensions of credit primarily for business or commercial purposes; (2) […]