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2017 Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 3 - Insurance
Chapter 65 - Unauthorized Insurers and Surplus Lines
Subchapter 3 - Surplus Lines Insurance Law
§ 23-65-320. Domestic surplus lines insurers
Universal Citation: AR Code § 23-65-320 (2017)
- (a) A domestic insurer possessing policyholder surplus of at least twenty million dollars ($20,000,000) may be:
- (1) Designated as a domestic surplus lines insurer with the written approval of the Insurance Commissioner; and
- (2) Allowed to write surplus lines insurance in any jurisdiction in which it is eligible.
- (b) A domestic surplus lines insurer is:
- (1) Deemed a nonadmitted surplus lines insurer in the State of Arkansas; and
- (2) Deemed a nonadmitted surplus lines insurer under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203.
- (c) A domestic surplus lines insurer is not subject to:
- (1) The Arkansas Property and Casualty Insurance Guaranty Act, § 23-90-101 et seq.; or
- (2) The Arkansas Life and Health Insurance Guaranty Association Act, § 23-96-101 et seq.
- (d) A surplus lines broker that obtains surplus lines insurance from a domestic surplus lines insurer shall comply with § 23-65-315.
- (e) Unless specifically exempt, the insurance laws of this state regarding financial and solvency requirements apply to a domestic surplus lines insurer.
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