AR HB1813

Requires authorized insurers to file annual financial statements with the Arkansas Insurance Commissioner on or before March 1 using National Association of Insurance Commissioners' standard forms and accounting procedures.

Mandates that domestic, foreign, and alien insurers also file copies of their annual statements with the National Association of Insurance Commissioners in electronic format by March 1.

Establishes that property and casualty insurers reporting $50,000 or more in homeowner or private passenger automobile premiums and life and annuity insurers reporting $50,000 or more in individual or group life or individual annuity premiums must submit Market Conduct Annual Statements including policies and procedures for claims handling, complaints received, and other market conduct functions.

Specifies that Market Conduct Annual Statement data submitted by insurers are deemed examination documents obtained by the department without requiring a formal examination notice or report.

Requires each domestic insurer to include in its annual statement an opinion from a qualified actuary regarding life and health policy reserves and property and liability loss reserves, formatted according to National Association of Insurance Commissioners' standards.