Ark. to Hold Hearing on P/C Insurer Claims Reports

The Arkansas Insurance Department announced it will hold a public hearing July 27 to determine whether Insurance Commissioner Julie Benafield Bowman should revise and re-adopt Rule and Regulation 61, “Insurer Reports of Arkansas Property and Casualty Claims Experience Pursuant to Act 166 of 1993.”

The hearing will take place at 10:00 a.m. in the First Floor Hearing Room, Arkansas Insurance Department 1200 West Third Street (Third & Cross Streets), Little Rock, Ark.

The proposed revisions to Rule 61 relate mainly to how the claims reporting form may be filed with the Department and when such reports are due. Under the proposed Rule, the claims reports are now due no later than May 1 annually, unless the Commissioner grants an extension of time to the insurer. Additionally, the proposed Rule allows insurers to submit the claims reporting form electronically, as well as providing insurers an electronic version of the form on the Department’s Web site. Finally, how insurers must make a “zero” report is clarified.

The proposed Rule 61 is viewable on the DOI Web site at www.accessarkansas/org/insurance.

1. All interested persons are encouraged to attend the Public Hearing and may appear and present, orally or in writing, statements, arguments or opinions on this Rule. Please alert DOI staff to any other proposed improvements to Rule 61 text.
2. Persons wishing to testify should notify the Legal Division as soon as possible; and are requested to submit intended statements in writing in advance. Written and electronic mail comments are welcomed and encouraged.
3. Direct inquiries to the Legal Division at (501) 371-2820 or ragenea.hodge@arkansas.gov, which is a new e-mail address.