(a) No insurance producer, insurer, insurance consultant, or adjuster shall permit any person not properly licensed under this chapter to solicit, sell, negotiate, engage, consult, or adjust in the business of insurance on behalf of the insurance producer, insurer, insurance consultant, or adjuster. (b) (1) Unless he or she has complied with the Producer Licensing […]
(a) For the protection of the people of this state, the Insurance Commissioner shall not, at or before completion of application processing, issue, continue, or permit to exist any license as to insurance unless the licensee is in compliance with this chapter and other applicable laws of this state, and as to any individual who […]
(a) The Insurance Commissioner shall prescribe the form and content of all examinations required by this chapter and shall include therein questions calculated to determine the applicant’s knowledge of the laws of this state and the regulations of the commissioner relative to those areas of licensure. (b) Upon receipt of the notice from any insurance […]
(a) Application for an insurance consultant’s license shall be made to the Insurance Commissioner by the applicant and be signed and sworn to by the applicant along with a nonrefundable application fee as prescribed by regulation. (b) The form of application shall require full answers to such questions as may reasonably be necessary to determine […]
(a) Within a reasonable time and in a location to be determined by the Insurance Commissioner, after filing of application and payment of the applicable fees, the commissioner shall subject each applicant for license as an insurance consultant to a written examination. (b) If the applicant is a firm, limited liability company, or corporation, the […]
(a) The Insurance Commissioner shall not issue a broker’s license limited to particular lines of insurance. (b) (1) A broker, as such, is not an agent or other representative of an insurer and does not have power by his or her own acts to obligate the insurer upon any risk or with reference to any […]
(a) No person shall, in this state, act as or hold himself or herself out to be an adjuster unless then licensed therefor under this chapter. Application for license shall be made to the Insurance Commissioner according to forms as prescribed and furnished by him or her. The commissioner shall issue the adjuster’s license for […]
(a) (1) (A) An adjusting or insurance consulting partnership, limited partnership, joint venture, limited liability company, or corporation may be licensed only as a licensee. (B) If a partnership, limited partnership, or joint venture, each general partner and each other individual to act for it under the license, and if a limited liability company or […]
(a) The Insurance Commissioner shall promptly issue adjuster or insurance consultant’s licenses applied for to persons qualified therefor in accordance with this chapter. (b) The license shall state the name and address of the licensee, the date of issue, general conditions relative to expiration or termination, kind or kinds of insurance covered, the license number […]
(a) Unless the license of an insurance adjuster or an insurance consultant is not renewed, expires, is suspended, is revoked, or is terminated, the licensee may continue the license by: (1) Paying annually or biennially the continuation of license fee prescribed by rule of the Insurance Commissioner; and (2) Complying with all other rules of […]
(a) The Insurance Commissioner may suspend for up to thirty-six (36) months, may revoke or refuse to continue, or may place in probationary status any license issued by him or her if after notice to the licensee and after hearing he or she finds any one (1) or more of the following causes exist: (1) […]
(a) (1) Upon the suspension or revocation of a license, the Insurance Commissioner shall immediately notify the licensee of the suspension or revocation either in person or by mail addressed to the licensee at the licensee’s address last of record with the commissioner or by electronic notice. (2) Notice by mail or by electronic mail […]
(a) (1) All licenses issued under this chapter, although issued and delivered to the licensee, shall at all times be the property of the State of Arkansas. (2) Upon any expiration, termination, suspension, or revocation of the license, the licensee or other person having possession or custody of the license shall immediately deliver it to […]
(a) (1) (A) Each insurer appointing an agent in this state shall file with the Insurance Commissioner the initial agent appointment and pay the fee. (B) The appointment means the notification filed with the commissioner that an insurer has established an agency relationship with a producer. (2) The appointing insurer’s appointment of an agent shall […]
(a) (1) Every resident agent or resident broker shall have and maintain in this state, or in a city or town in another state through which passes the boundary of this state, a place of business accessible to the public. (2) The place of business shall be that wherein the licensee principally conducts transactions under […]
(a) A licensed producer may solicit applications for and issue policies of personal travel and accident insurance by means of mechanical vending machines supervised by him or her and placed at airports, railroad stations, bus stations, hotels, and similar places of convenience to the traveling public if the Insurance Commissioner finds that: (1) The policy […]
(a) All funds, fees, moneys, premiums, or return premiums received by a licensee in the capacity as a licensee shall be trust funds so received by the licensee in a fiduciary capacity, and the licensee shall in the applicable regular course of business account for and pay these funds, fees, moneys, premiums, or return premiums […]
(a) A licensed agent may be licensed as a broker and be a broker as to insurers for which he or she is not then licensed as agent. (b) A licensed broker may be licensed as and be an agent as to insurers appointing him or her as agent. (c) The sole relationship between a […]
A licensed agent authorized to sell life or accident and health insurance may place, from time to time, excess or rejected risks in any other life or accident and health insurer authorized to transact insurance in this state with the knowledge and approval of the insurers as to which the agent is so appointed and […]
Following termination of any agency appointment as to property, casualty, or surety insurance, subject to consent of the insurer and to the terms of the insurer’s contract with the agent, the agent may continue to service, and receive from the insurer commissions or other compensation relative to, business written by him or her for the […]
