As used in this subchapter: (1) “Actual malice” means knowledge that information is false, or reckless disregard of whether it is false; (2) “Business of insurance” means the writing of insurance or the reinsuring of risks by an insurer, including acts necessary or incidental to writing insurance or reinsuring risks and the activities of persons […]
(a) A person shall not commit a fraudulent insurance act. (b) A person shall not knowingly interfere with the enforcement of the provisions of this subchapter or investigations of suspected or actual violations of this subchapter. (c) (1) A person convicted of a felony involving dishonesty or breach of trust shall not participate in the […]
(a) Claim forms, proofs of loss, or any similar documents, however designated, seeking payment or benefit pursuant to an insurance policy, and applications for insurance, regardless of the form of transmission, shall contain the following statement or a substantially similar statement: (b) The lack of a statement as required in subsection (a) of this section […]
The Insurance Commissioner may investigate suspected fraudulent insurance acts and persons engaged in the business of insurance.
(a) A person engaged in the business of insurance having knowledge or a reasonable belief that a fraudulent insurance act is being, will be, or has been committed shall provide to the Insurance Commissioner the information required by, and in a manner prescribed by, the commissioner. (b) Any person engaged in the business of insurance […]
(a) There shall be no civil liability for libel, slander, or any other cause of action imposed on, and no cause of action shall arise from a person’s furnishing information concerning suspected, anticipated, or completed fraudulent insurance acts, if the information is provided to or received from: (1) The Insurance Commissioner or the commissioner’s employees, […]
(a) Notwithstanding any other provision of law, the documents and evidence provided pursuant to §§ 23-66-505 and 23-66-508 or obtained by the Insurance Commissioner in an investigation of suspected or actual fraudulent insurance acts shall be privileged and confidential and shall not be a public record and shall not be subject to discovery or subpoena […]
(a) (1) The Criminal Investigation Division is established within the State Insurance Department and is designated a law enforcement agency. (2) (A) The Insurance Commissioner shall appoint the full-time supervisory and investigative personnel of the division, who shall be qualified by training and experience to perform the duties of their positions. (B) A person designated […]
This subchapter shall not: (1) Preempt the authority or relieve the duty of other law enforcement or regulatory agencies to investigate, examine, and prosecute suspected violations of law; (2) Prevent or prohibit a person from voluntarily disclosing information concerning insurance fraud to a law enforcement or regulatory agency other than the Criminal Investigation Division; or […]
(a) Insurers shall have antifraud initiatives reasonably calculated to detect, prosecute, and prevent fraudulent insurance acts. Antifraud initiatives may include, but are not limited to: (1) Fraud investigators, who may be insurer employees or independent contractors; or (2) An antifraud plan submitted to the Insurance Commissioner. Antifraud plans submitted to the commissioner shall be privileged […]
The Insurance Commissioner may promulgate reasonable rules deemed necessary by the commissioner for the administration of this subchapter.
A person who violates this subchapter is subject to the following: (1) (A) Suspension or revocation of license, civil penalties of up to ten thousand dollars ($10,000) per violation, or both. (B) Suspension or revocation of license and imposition of civil penalties shall be pursuant to an order of the Insurance Commissioner issued under § […]
(a) (1) (A) Prior to the approval of any application or request for appointment by an insurer or company to be added to the license obtained by an individual resident agent or producer who has had no previous appointments on his or her Arkansas license prior to this request, the insurer shall conduct or secure […]
