Filing Requirements

Life and Health

Arkansas requires that all Life & Health forms be approved prior to use in this State. All Certificates to be used in Arkansas are approved even though the group policy may be issued in another state.

Rates for individual supplemental and major medical health coverage, individual life contracts with non-guaranteed cost factors, major medical small groups, and credit products must be filed for approval.

Rates for Medicare supplement coverage and long term care coverage must be approved prior to use.

Advertising, when required to be filed must be approved prior to use.

The Department has 30 days after a form, rate or advertising submission is received by our Department to either approve or disapprove the submission. If the Commissioner determines that additional information is needed to make a decision regarding approval, such request for information will be made to the company. The time periods set forth in Ark. Code Ann. § 23-79-109(b)(1)-(5) commences upon receiving the filing through SERFF with the proper fees. The Department may extend the review period for an additional 30 day. If we disapprove a submission, we will provide written notice to the submitting company stating the reason for disapproval. The review of an open filing cannot be extended by waiver of the above timelines by the submitting company.

Property and Casualty

All forms to be approved prior to use in this State. The Department has 30 days after a form submission is received by our Department to either approve or disapprove the submission. If the Commissioner determines that additional information is needed to make a decision regarding approval, such request for information will be made to the company. The time periods set forth in Ark. Code Ann. § 23-79-109(b)(1)-(5) commences upon receiving the filing through SERFF with the proper fees. The Department may extend the review period for an additional 30 day. If we disapprove a submission, we will provide written notice to the submitting company stating the reason for disapproval. The review of an open filing cannot be extended by waiver of the above timelines by the submitting company.

All personal lines and professional liability rate submissions must be filed at least 20 days prior to their effective dates (60 days for professional liability). Professional liability and workers compensation rate filings are reviewed as prior approval. We may only disapprove a rate filing if it is excessive, inadequate, unfairly discriminatory or violates the states various laws relating to rates and rating classification plans.

Act 458 of 1999 eliminated rate filing requirements for commercial lines, with the exception of workers’ compensation and employers’ liability and professional liability. Large commercial risks, as defined in the Act are exempt from rate and policy form review.

Workers Compensation

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 filings.