Repatriation of Remains Coverage in Life Insurance Policies

Hugh McDonald SECRETARY OF COMMERCE AID ttil,* ;"'" * Bulletin 11-2024 TO: All Licensed Life Insurers Date: July 29, 2024 RE: Repatriation of Remains Coverage in Life Insurance Policies Alan McClain COMMISSIONER, ARKANSAS INSURANCE DEPARTMENT The Arkansas Insurance Commissioner ("Commissioner") issues this Bulletin or Advisory pertaining to life insurers which provide repatriation of remains coverage, or various benefits related to repatriation of remains, either in a standalone life insurance policy, or separately offered as an endorsement to the policy. A recent compliance review of a life insurance form filing by the Arkansas Insurance Department ("AID") raised the issue of whether a life insurer offering such coverage is also separately required to maintain a separate line certificate of authority to sell or transact travel insurance. Under AID's Travel Insurance Rule, Rule 112, Section Three (3) (N), travel insurance "...means insurance coverage for personal risks incident to planned travel," including under (N) (6), "... repatriation of remains." The purpose of this Bulletin is to advise life insurers providing repatriation of remains, either in a standalone policy basis, or through an endorsement or rider, such insurers do not have to obtain or maintain a separate line in their certificates of authority to operate in this State, to sell or transact "travel insurance." The Commissioner finds that life insurers are already significantly regulated and licensed in their operations, filings or contracts with AID that requiring an additional line in this area is unneeded for any regulatory, consumer or solvency safety reason. This Bulletin or Advisory applies to all past, present, and future life insurance form filings providing the above provided benefits in which this issue may exist. For questions related to this Bulletin, please direct all inquiries to Legal Division at AID, at (501) 371-2820 or email insurance.legal@arkansas.gov. Alan McClain Arkansas Insurance Commissioner 1/a.4 /9.02se Date Arkansas Department of Commerce Arkansas Insurance Department 1 Commerce Way, Suite 102 • Little Rock, AR 72202 INSURANCE.ARKANSAS.GOV