AR HB1439

Establishes that commercial liability insurance policies must define "occurrence" to include accidents, repeated exposure to harmful conditions, and property damage or bodily injury resulting from faulty workmanship.

Prohibits sale of commercial liability insurance policies unless the Insurance Commissioner approves the policy or an endorsement that complies with the requirements of this act.

Addresses uncertainty in Arkansas court decisions regarding whether commercial liability coverage includes damages caused by faulty workmanship.

Prevents insurers from collecting premiums for coverage against defects and then denying claims for faulty workmanship unless the insurer and insured have freely negotiated a specific exclusion.

Does not restrict or limit the types of exclusions from coverage that insurers may include in commercial liability policies through negotiated agreements.