Life and Health Filing Requirements
Arkansas requires all Life & Health forms to be approved prior to use in this State. This includes certificates issued in Arkansas even though the group policy is issued elsewhere.
Rates must be filed for approval for the following:
- Individual supplemental and major medical health coverage
- Individual life contracts with non‑guaranteed cost factors
- Small group major medical plans
- Credit products
In addition, rates and advertising for Medicare supplement and long‑term care coverage must be approved before use.
Once a form, rate, or advertising filing is submitted, the Department has 30 days to approve or disapprove the filing. If more information is required, the Commissioner will request it from the company. The review timelines outlined in Ark. Code Ann. § 23‑79‑109(b)(1)-(5) begin once the filing is received through SERFF with the appropriate fees.
The Department may extend its review for an additional 30 days. If a filing is disapproved, written notice will be provided explaining the reason for denial. Open filings cannot have their review timelines extended by company waiver.
Property and Casualty Filing Requirements
Insurers must obtain approval of all Property and Casualty forms prior to use in this State. After a form filing is received, the Department has 30 days to approve or disapprove it. If additional information is needed, the Commissioner will request it from the company. Timelines under Ark. Code Ann. § 23‑79‑109(b)(1)-(5) begin upon receipt of the SERFF filing with proper fees. The review period may be extended for an additional 30 days. If a filing is disapproved, written notice will be issued with the reason. Filing timelines cannot be waived by the submitting company.
Personal lines and professional liability rate filings must be submitted at least 20 days before their effective date (60 days for professional liability). Professional liability and workers’ compensation rates are reviewed on a prior‑approval basis. A rate may be disapproved if it is excessive, inadequate, unfairly discriminatory, or violates state rating laws.
Workers’ compensation and employers’ liability rates must be filed at least 30 days before their effective date and must be approved before use. Act 458 of 1999 removed rate‑filing requirements for most commercial lines, except for workers’ compensation, employers’ liability, and professional liability.
Workers’ Compensation
For Individual Risk or Consent-to-Rate filings, please refer to SERFF for examples of acceptable forms. There is a filing fee of $50 for these submissions.