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23-67-215. Insurers and advisory organizations — Prohibited activities.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-215. Insurers and advisory organizations — Prohibited activities.
(a) Monopolies. No insurer or advisory organization shall attempt to monopolize or to combine or conspire with any other person to monopolize an insurance market or make any arrangement with any other insurer, advisory organization, or other person which has the purpose or effect of unreasonably restraining trade or of substantially lessening competition in the business of insurance.
(b) Advisory Organizations: Prohibited Activity. In addition to the other prohibitions contained in this chapter, no advisory organization shall, except as specifically permitted under §§ 23-67-204, 23-67-211, 23-67-212, and 23-67-216:
(1) Compile or distribute recommendations relating to rates that include expenses, other than loss adjustment expenses, or profit except in lines designated by the Insurance Commissioner; or
(2) File any manual or plan of rates, policy fees, or supporting information on behalf of an insurer.
(c) An advisory organization may not have or adopt any rule, or exact any agreement, or formulate or engage in any program which would require any member, subscriber, or other insurer to:
(1) Interfere with the right of any insurer to develop its rates independent of that advisory organization;
(2) Utilize some or all of its services;
(3) Adhere to its rates, rating plan, rating systems, underwriting rules, or policy forms; or
(4) Prevent any insurer from acting independently.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-215
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.
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Stable record: arkansas_code:legal_authorities:23-67-215
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 65de4746fab155bf5ee2e5ababd593b211be29a962618ae599491281ef1c694e
Source location: content.xml paragraph 38930
Stored source content
23-67-215. Insurers and advisory organizations — Prohibited activities.
(a) Monopolies. No insurer or advisory organization shall attempt to monopolize or to combine or conspire with any other person to monopolize an insurance market or make any arrangement with any other insurer, advisory organization, or other person which has the purpose or effect of unreasonably restraining trade or of substantially lessening competition in the business of insurance.
(b) Advisory Organizations: Prohibited Activity. In addition to the other prohibitions contained in this chapter, no advisory organization shall, except as specifically permitted under §§ 23-67-204, 23-67-211, 23-67-212, and 23-67-216:
(1) Compile or distribute recommendations relating to rates that include expenses, other than loss adjustment expenses, or profit except in lines designated by the Insurance Commissioner; or
(2) File any manual or plan of rates, policy fees, or supporting information on behalf of an insurer.
(c) An advisory organization may not have or adopt any rule, or exact any agreement, or formulate or engage in any program which would require any member, subscriber, or other insurer to:
(1) Interfere with the right of any insurer to develop its rates independent of that advisory organization;
(2) Utilize some or all of its services;
(3) Adhere to its rates, rating plan, rating systems, underwriting rules, or policy forms; or
(4) Prevent any insurer from acting independently.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-204. Payment of dividends.
Nothing in this chapter shall be construed to prohibit the payment of dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-204
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. The source passage cites 23-67-204. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-211. Filing of rates and other rating information.
(a)Filings as to Competitive Markets.
(1)(A)(i) In a competitive market, every insurer shall file with the Insurance Commissioner all rates, supplementary rate information, and supporting information for risks which are to be written in this state.
(ii) The rates and information shall be filed twenty (20) days prior to the effective date.
(B) A filing shall be deemed to meet the requirements of this chapter and to become effective upon the expiration of the waiting period or sooner if approved by the commissioner.
(2)(A)(i) In a competitive market, if the commissioner determines after a hearing or by agreement that an insurer's rates require closer supervision because of the insurer's financial condition or its rating practices, the insurer shall file with the commissioner at least sixty (60) days prior to the effective date all rates and supplementary rate information and supporting information prescribed by the commissioner.
(ii) Upon application by the filer, the commissioner may authorize an earlier effective date.
(B) A filing shall be deemed to meet the requirements of this chapter and to become effective upon the expiration of the waiting period.
(b)Filings as to Noncompetitive Markets.
(1)(A) In a noncompetitive market, every insurer shall file with the commissioner all rates for that market. These rates, supplementary rate information, and supporting information required by the commissioner shall be filed at least sixty (60) days prior to the effective date.
(B) Upon application by the filer, the commissioner may authorize an earlier effective date.
(2) A filing shall be deemed to meet the requirements of this chapter and to become effective upon the expiration of the waiting period un
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-211
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. The source passage cites 23-67-211. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-212. Procedural requirements.
(a)(1) Rates filed pursuant to this section shall be filed in such form and manner as prescribed by the Insurance Commissioner.
(2) An insurer may satisfy its obligation to file supplementary rate information or supporting information by filing a reference to a filing made by an advisory organization, with or without deviation.
(b) Each filing and supporting nonproprietary information filed under this chapter shall, as soon as filed, be open to public inspection. Notwithstanding the provisions of the Freedom of Information Act of 1967, § 25-19-101 et seq., information which is a trade secret or of a proprietary nature, or both, shall not be open to public inspection.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-212
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. The source passage cites 23-67-212. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-216. Advisory organizations — Permitted activities.
Any advisory organization, in addition to other activities permitted, is authorized to:
(1) Develop statistical plans, including territorial and class definitions;
(2) Collect statistical data from members, subscribers, or any other source;
(3) Prepare and distribute pure premium data, adjusted for loss development and loss trending, in accordance with its statistical plans;
(4) Prepare, distribute, and file rates and supplementary rate information except as prohibited by § 23-67-215(b). Those filings made by advisory organizations shall be for advisory purposes only and shall not be made on behalf of any insurer;
(5) Distribute information that is filed with the Insurance Commissioner and open to public inspection;
(6) Conduct research and on-site inspections in order to prepare classifications of public fire defenses;
(7) Consult with public officials regarding public fire protection as it would affect members, subscribers, and others;
(8) Conduct research and collect statistics in order to discover, identify, and classify information relating to cause or prevention of losses;
(9) Prepare and file policy forms and endorsements and consult with members, subscribers, and others relative to their use and application;
(10) Conduct research and on-site inspections for the purpose of providing risk information relating to individual structures;
(11) Collect, compile, and distribute past and current prices of individual insurers if that information is made available to the general public;
(12) File rates, supplementary rate information, and supporting information for residual market mechanisms; and
(13) Furnish any other services not prohibited by this chapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-216
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. The source passage cites 23-67-216. This identifies an authority to review, not proof of applicability.