Claims Settlements for Storm Damaged Roofs

Hugh McDonald SECRETARY OF COMMERCE AID 1, 1 4"" * * Alan McClain COMMISSIONER, ARKANSAS INSURANCE DEPARTMENT November 2, 2023 BULLETIN NO. 17-2023 TO: ALL LICENSED PROPERTY AND CASUALTY INSURERS (PERSONAL LINES) FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: CLAIMS SETTLEMENTS FOR STORM DAMAGED ROOFS Due to the rising frequency and severity of storms that result in claims for damaged roofs, and to ensure the availability and affordability of property insurance, the Department is revising requirements relative to settlement of claims for storm damaged roofs. 1. The Department will now allow the mandatory application of a separate wind/hail deductible. 2. The Department will now allow a mandatory roof schedule endorsement for roofs 7 years or older, with proper notice to the insured. This notice must be submitted to the Department for approval. If you have questions or concerns related to this Bulletin, please contact Jimmy Harris at (501)671-1621 or email jimmy.harris©arkansas.gov. ALAN MCCLAIN INSURANCE COMMISSIONER STATE OF ARKANSAS Nov, „\\0,_, a, :)0,Q:), DATE Arkansas Department of Commerce Arkansas Insurance Department 1 Commerce Way, Suite 102 ' Little Rock, AR 72202 INSURANCE.ARKANSAS.GOV