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Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-64-201. License required for adjusters and insurance consultants

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) No insurance producer, insurer, insurance consultant, or adjuster shall permit any person not properly licensed under this chapter to solicit, sell, negotiate, engage, consult, or adjust in the business of insurance on behalf of the insurance producer, insurer, insurance consultant, or adjuster.

(b)(1) Unless he or she has complied with the Producer Licensing Model Act, § 23-64-501 et seq., a person shall not consult, counsel, or advise others on matters of insurance needs or coverages under any insurance policy or contract of insurance unless licensed under this section.

(2) Licensure of a salaried employee of the entity or entities for which he or she may consult or counsel on matters of insurance to that entity or entities shall not be required.

(c) No person may adjust claims as an adjuster without licensure under this chapter.

(d) Any license issued by the Insurance Commissioner, under this section, may be immediately suspended as per § 9-14-239 for failure to pay child support.

(e) All licensees or applicants for licensure under this section must notify the commissioner in writing within thirty (30) days of any filing of a criminal charge or conviction or plea of a criminal charge or the filing of any bankruptcy proceeding by or against them. Failure to so notify the commissioner may result in the immediate suspension of the license.

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Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-64-201. License required for adjusters and insurance consultants - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-64-201/

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