Use Of Credit Information Under Ark. Code Ann. § 23-67-415 In Personal Insurance

December 15, 2004 Arkansas Insurance Department 1200 West Third Street Little Rock, AR 72201-1904 1-501-371-2600 1-800-282-9134 Mike Huckabee Mike Pickens Fax 1-501-371-2618 Governor Commissioner www.state.ar.us/insurance BULLETIN NO. 14-2004 TO: ALL LICENSED PROPERTY AND CASUALTY INSURERS, NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS, TRADE ORGANIZATIONS, AND OTHER INTERESTED PARTIES FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: USE OF CREDIT INFORMATION UNDER ARK. CODE ANN. § 23-67-415 IN PERSONAL INSURANCE FOR PRIVATE PASSENGER AUTO, HOMEOWNERS, MOTORCYCLE, MOBILE HOME, NON COMMERCIAL DWELLING/FIRE, NON COMMERCIAL FARMOWNERS, PERSONAL WATERCRAFT, BOAT, SNOWMOBILE, RECREATIONAL VEHICLES EFFECTIVE DATE: DECEMBER 15, 2004 ________________________________________________________________________________________________________ Arkansas Code Annotated § 23-67-415 requires that no later than March 31 of each year, each insurance company writing any personal insurance that uses credit-scoring information shall report to the Insurance Commissioner for each personal insurance type listed in § 23-67-404(9) the number of: (1) Policies written during the preceding year; (2) Policies that received a premium increase due to credit scoring during the preceding year; and (3) Policies that received a premium decrease due to credit scoring during the preceding year. This subchapter applies to personal insurance and not to commercial insurance or any other type of insurance. “Personal insurance” means private passenger automobile, homeowners, motorcycle, mobile home owners, noncommercial dwelling fire insurance, noncommercial farm owners, boat, personal watercraft, snowmobile, and recreational vehicle policies. If your company does not write any of the lines of insurance included in this definition of “personal insurance” nor have any policies in force and effect covering said lines at any time during the period covered by the report, please notify the Property and Casualty Division of that fact prior to the March 31st due date. Such notification shall be considered meeting the reporting requirements of the Act. Information filed with the commissioner under this section by an insurance company shall be treated as proprietary information and is exempt from public disclosure. Attached to this Bulletin is a suggested form upon which to report the required information. This form will be available on our website at www.accessarkansas.org/insurance/pdf/bulletin_14_2004.pdf and we can furnish it as an attachment to an email as well. If you should have any questions, please contact Alexa Grissom or Becky Harrington, Property and Casualty Division, at (501) 371-2800 or alexa.grissom@arkansas.gov or becky.harrington@arkansas.gov or fax at (501) 371- 2748. (signed by Mike Pickens) (December 14, 2004 _______________________________________ _________________________________________ MIKE PICKENS DATE INSURANCE COMMISSIONER accessArkansas.org - Official Website for the State of Arkansas G Home G Government G Online G Business G Community G Education G Family G Travel The page you requested was not found. If you are having trouble locating information or an online service, please visit one of the categories above or you may also find what you are looking for by using the search below. Site Map | Privacy Policy | Accessibility Policy | Security Policy © 1997-2004 Information Network of Arkansas. All Rights Reserved. http://www.accessarkansas.org/insurance/pdf/bulletin_14_2004.pdf12/16/2004 1:47:27 AM Search Search Go