Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-67-201. Construction--Intent

(1) Promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory;

(2) Prohibit price-fixing agreements and other anticompetitive behavior by insurers;

(3) Promote price competition among insurers so as to provide rates that are responsive to competitive market conditions;

(4) Provide regulatory controls in the absence of competition;

(5) Improve availability, fairness, and reliability of insurance;

(6) Authorize essential cooperative action among insurers in the ratemaking process and to regulate that activity to prevent practices that tend to lessen substantially competition or to create a monopoly;

(7) Encourage the most efficient and economic marketing practices; and

(8) Require the providing of price and other information to enable consumers to purchase insurance suitable for their needs and to foster competitive insurance markets.