Rule 43 Claims Settlement Compliance
All insurers and other regulated industries must continue to adjust claims as expeditiously as possible during this emergency in compliance with the provisions of AID Rule 43, and utilize all possible methods of adjusting claims remotely, such as telephone, email, facsimile, mobile applications, satellite imagery or 3D mapping, all the while striving to meet normal time frames for the adjustment and resolution of claims whenever possible.
60-Day Moratorium
- Effective starting from March 11, 2020, the Department issued a sixty (60) day moratorium on the cancellation/non-renewal of insurance policies for the non-payment of premiums for Arkansans diagnosed with/positively tested for COVID-19. The moratorium applies to all insurance policies issued in Arkansas.
- The policyholder must request this 60-day moratorium.
- This moratorium is not a waiver; it is only an extension or grace period in which to pay premiums.
- Insurers are directed to work with affected policyholders in paying the premiums that become due during the moratorium period by either allowing a payment plan or a further extension of the due date for the amount in full.
For complete details, please see the entire Arkansas Bulletin No. 6-2020.