Arkansas Proposes Changes to Surplus Lines Rule

The Arkansas Insurance Department has proposed changes to Rule 24 to clarify existing legislation regarding surplus lines insurance "in order to provide clear guidance to originating producers and brokers and surplus line brokers in Arkansas licensed."

A hearing has been set for December 16 at 10:00 a.m. at the department's office in Little Rock and the proposed revised regulation can be downloaded from the insurance department's website.

According to the department, Rule 24 provides direction regarding forms and documents necessary for proper reporting and accounting on property, casualty, surety and marine insurance issued by surplus line insurers through surplus line brokers.