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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) All malpractice rate filings shall remain on file for public inspection.
(b) Whenever a malpractice insurer files a proposed overall rate increase of twenty percent (20%) or greater, it shall:
(1) Publish notice of the filing for three (3) consecutive business days in a newspaper of general circulation in this state; and
(2) Furnish proof of notice to the Insurance Commissioner.
(c) The commissioner may hold a hearing on any malpractice rate increase filing.
(d) The commissioner shall approve or disapprove all malpractice rate filings subject to the standards for rates under § 23-67-502 within sixty (60) days after the date of the filing.
(e) Notwithstanding subsection (d) of this section, the commissioner may approve an excessive rate if he or she finds that the failure to approve the rate may tend to substantially lessen competition in the Arkansas malpractice insurance market.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-67-506. Review of filings - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-67-506/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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