Ark. Code Ann. § 23-100-104 (2026)

1. 1. 1. Each licensed insurer shall pay into the State Insurance Department Criminal Investigation Division Trust Fund a nonrefundable antifraud assessment as directed by the Insurance Commissioner for the reasonable and necessary expenses and operation of the Criminal Investigation Division.
      2. As used in this section, “licensed insurer” includes a:
         1. Licensed stock and mutual insurance company;
         2. Reinsurer;
         3. Health maintenance organization;
         4. Fraternal benefit society;
         5. Hospital and medical service corporation;
         6. Stipulated premium insurer;
         7. Farmers' mutual aid association; and
         8. Prepaid legal insurer.
   2. This section does not apply to an approved but nonadmitted surplus lines insurer or to a registered risk retention group.
2. 1. The antifraud assessment required by this section shall be paid annually on or before June 1 at the time and in the manner that the commissioner prescribes or at times alternate from June 1 annually that the commissioner prescribes.
   2. 1. By rule, the commissioner may set the amount of the antifraud assessment.
      2. The antifraud assessment shall not exceed one thousand dollars ($1,000) per fiscal year.
   3. The antifraud assessment is in addition to the premium taxes and fees required under existing law.
3. This section shall apply notwithstanding the provisions of § 26-57-601 et seq., the State Insurance Department Trust Fund Act, § 23-61-701 et seq., and other provisions of Arkansas law.

History. Acts 1997, No. 337, § 3; 1999, No. 881, § 20; 2005, No. 1697, § 28; 2007, No. 827, § 190; 2017, No. 283, § 22.

A.C.R.C. Notes. Acts 2005, No. 1697, § 1, provided:

“Purpose. The General Assembly recognizes that a competitive market for insurance products is vital to Arkansans and that active competition in the insurance marketplace produces the fairest and lowest rates over any given period of time. Furthermore, open and transparent regulation of the insurance industry as well as widespread dissemination of information concerning regulatory actions regarding insurance rates and information helpful to consumers in purchasing and utilizing insurance coverage will assist Arkansans in purchasing, maintaining, and utilizing wisely their insurance coverages. Therefore, the purpose of this act is to assist consumers by providing them the information and tools necessary to be an informed and educated consumer of insurance coverage.”

Amendments. The 2017 amendment substituted “June 1” for “June 30” twice in (b)(1); and, in (b)(3), substituted “is” for ”shall be” and deleted “now” preceding “required”.