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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) Any schedule of rates or rating plan for automobile liability and physical damage insurance submitted to or filed with the Insurance Commissioner shall provide for an appropriate reduction in premium charges for those insured under twenty-five (25) years of age who have graduated from a college or university, and whose cumulative scholastic records show that the insured attained one (1) of the following:
(1) If letter grades are used, a grade average of “B” or higher; or
(2) At least a 3-point average on a 4-point scale (or equivalent).
(b) All insurance companies writing automobile liability and physical damage insurance in Arkansas shall allow an appropriate reduction in premium charges to all eligible persons subject to this section.
(c) This reduction in premium charges shall not apply to those insureds who qualify for a premium reduction due to marriage.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-89-210. Premium reduction to college graduates for scholastic achievement - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-89-210/
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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