The purpose of this subchapter is to provide minimum standards for commercial lines property and casualty insurance policies or contracts. These minimum standards are designed to minimize restrictions in coverage and to assure minimum standards for these commercial policies or contracts for the protection of the public. This subchapter is not intended to impede flexibility […]
For purposes of this subchapter, a claims-made policy as referenced in § 23-79-306 means a policy which provides coverage if a claim for damages is first made during the policy period.
(a) This subchapter applies to property and casualty insurance on commercial risks in this state, except: (1) Reinsurance; (2) Insurance against loss of or damage to aircraft or their hulls, accessories, and equipment or against liability arising out of the ownership, maintenance, or use of aircraft; (3) Ocean marine or foreign trade insurance; (4) Title […]
This subchapter shall be deemed cumulative of prior laws. No prior law or part of a law shall be deemed to be in conflict with this subchapter unless failure to so determine would prevent giving effect to an explicit provision of this subchapter.
(a) Whenever the Insurance Commissioner shall have reason to believe that any person has violated any provision of this subchapter, the commissioner shall issue and serve upon the person a statement of the alleged violations and a notice of hearing as provided by § 23-79-309. (b) If, after a hearing, the commissioner determines that the […]
The following requirements are applicable only as to claims-made policies as defined in § 23-79-302: (1) The policy application and the initial page of each claims-made policy must include a conspicuous notice at the top indicating that the contract is a claims-made policy; (2) The insurer must provide at no additional charge an automatic sixty-day […]
(a) In addition to other applicable provisions of the Arkansas Insurance Code, insurers and insurance policies subject to the provisions of this subchapter shall meet the following standards: (1) Notice of claim given by or on behalf of the named insured to any authorized agent of the insurer with specific information to identify the insured […]
Any commercial property and casualty insurance policy, contract, rider, or endorsement issued after March 13, 1987, and otherwise valid that contains any condition or provision not in compliance with the requirements of this subchapter shall be construed and applied in accordance with the provisions of this subchapter.
(a) Administrative procedures exercised by the Insurance Commissioner under this subchapter shall be in accordance with §§ 23-61-303 — 23-61-306. (b) Appeals from orders of the commissioner made under this subchapter shall be made in accordance with § 23-61-307.
The Insurance Commissioner may promulgate such reasonable rules as are necessary to carry out the provisions of this subchapter.
(a) (1) Motor vehicle liability insurance applies to the amounts that the owner is legally obligated to pay as damages because of accidental bodily injury and accidental property damage arising out of the ownership or operation of a motor vehicle if the accident occurs in the United States, its possessions, or Canada. (2) Motor vehicle […]
No motor vehicle liability insurance policy issued or delivered in this state shall contain a provision that converts the limits for bodily injury or property damage to lower limits in the event that the insured motor vehicle is involved in an accident while it is being driven by a driver other than the insured.
