(a) No person shall act as an insurer and no insurer shall transact insurance in this state unless authorized by a subsisting certificate of authority issued to it by the Insurance Commissioner except as to such transactions as are expressly otherwise provided for in the Arkansas Insurance Code. (b) A certificate of authority shall not […]
To qualify for and hold authority to transact insurance in this state, an insurer must be otherwise in compliance with the Arkansas Insurance Code and with its charter powers and must be an incorporated stock insurer, an incorporated mutual insurer, or a reciprocal insurer, all of the same general type as may be formed as […]
(a) No insurer shall be authorized by original certificate of authority to transact insurance in this state which has or uses a name so similar to that of another insurer already so authorized as likely to mislead the public. (b) No life insurer shall be so authorized which has or uses a name deceptively similar […]
An insurer which otherwise qualifies therefor may be authorized to transact any one (1) kind or combination of kinds of insurance, as defined in §§ 23-62-101 — 23-62-108, except: (1) A life insurer shall be authorized to transact in addition only accident and health insurance. However, the Insurance Commissioner shall continue to so authorize any […]
(a) (1) On and after January 1, 2006, to qualify for and maintain authority to transact any one (1) kind of insurance, as defined in §§ 23-62-101 — 23-62-108, or combination of kinds of insurance as shown in this subsection, an insurer applying for its original certificate of authority in Arkansas shall possess and maintain […]
(a) All insurers authorized to transact insurance in this state shall make and maintain a deposit of securities as follows: (1) (A) (i) All insurers authorized to transact only life or accident and health insurance, or both, shall deposit through the Insurance Commissioner and subject to the conditions specified in § 23-63-909 securities eligible for […]
(a) In addition to the minimum paid-in capital stock if stock insurers, or minimum surplus if mutual and reciprocal insurers, required by § 23-63-205, special surplus shall be possessed by insurers hereafter applying for original certificates of authority in this state as follows: (1) All domestic stock insurers and domestic mutual legal reserve life and […]
(a) Foreign Lloyd’s plan insurers that held certificates of authority to transact insurance in this state immediately prior to January 1, 1960, may continue to be so authorized while maintaining surplus as required under § 23-63-205(b) of foreign mutual insurers transacting like kinds of insurance and while otherwise in compliance with the Arkansas Insurance Code. […]
(a) To apply for an original certificate of authority, an insurer shall file with the Insurance Commissioner its application therefor, accompanied by the applicable fees as specified in § 23-61-401, showing its name, location of its home office or principal office in the United States, if an alien insurer, kinds of insurance to be transacted, […]
(a) The certificate of authority, if issued, shall specify the kind or kinds of insurance the insurer is authorized to transact in Arkansas. At the insurer’s request, the Insurance Commissioner may issue a certificate of authority limited to particular types of insurance or insurance coverage within the scope of a kind of insurance as defined […]
(a) Certificates of authority issued or renewed under the Arkansas Insurance Code shall continue in force as long as the insurer is entitled thereto under the Arkansas Insurance Code and until suspended, revoked, or otherwise terminated. However, they are subject to continuance of the certificate by the insurer each year by: (1) Payment prior to […]
(a) The Insurance Commissioner shall suspend or revoke an insurer’s certificate of authority: (1) If the action is required by any provision of the Arkansas Insurance Code; or (2) If the insurer no longer meets the requirements for the authority originally granted, on account of deficiency of assets or otherwise; or (3) If the insurer’s […]
(a) The Insurance Commissioner shall, after a hearing thereon, suspend or revoke an insurer’s certificate of authority if he or she finds that the insurer: (1) (A) Is in unsound condition, or is in such condition or is using such methods and practices in the conduct of its business, as to render its further transaction […]
(a) Suspension or revocation of an insurer’s certificate of authority shall be by the Insurance Commissioner’s order given to the insurer as provided by § 23-61-109. (b) The commissioner shall promptly also give notice of the suspension or revocation to the insurer’s agents in this state of record in the commissioner’s office. (c) The insurer […]
(a) The suspension of an insurer’s certificate of authority is indefinite unless: (1) A specific period is fixed by the Insurance Commissioner in the order of suspension; or (2) The commissioner shortens or rescinds the suspension. (b) (1) Unless in the order of suspension the commissioner waives payment of any fees, licenses, and taxes during […]
(a) (1) Annually on or before March 1 or within an extension of time that the Insurance Commissioner for good cause may have granted, each authorized insurer shall file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the December 31 preceding. (2) The statement shall be […]
(a) Any insurer which is organized under the laws of any other state and is admitted to do business in this state for the purpose of writing insurance may become a domestic insurer by complying with all of the requirements of law relative to the organization and licensing of a domestic insurer of the same […]
