23-61-115. Policyholder's Bill of Rights.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-61-115. Policyholder's Bill of Rights.

23-61-115. Policyholder's Bill of Rights. (a) The principles expressed in subsection (b) of this section shall serve as standards to be followed by the Insurance Commissioner in: (1) Exercising the commissioner's powers and duties; (2) Exercising administrative discretion; (3) Dispensing administrative interpretations of the law; and (4) Adopting rules. (b) Policyholders have the right to: (1) Competitive pricing practices and marketing methods that enable them to determine the best value among comparable policies; (2) Insurance advertising and other selling approaches that provide accurate and balanced information on the benefits and limitations of a policy; (3) An insurer that is financially stable; (4) Be serviced by a competent, honest insurance producer; (5) A readable policy; (6) An insurer that provides an economic delivery of coverage and that tries to prevent losses; (7) Balanced and positive regulation by the State Insurance Department; and (8) A reasonable expectation that the policyholder's nonpublic personal information is securely maintained. (c) This section shall not be construed as creating, extinguishing, repealing, or limiting any civil cause of action.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-115

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.