AR HB2099

Establishes the Arkansas Insurance Fair Conduct Act as a new subchapter of Arkansas Code Title 23, Chapter 66, to regulate fair insurance practices and claims settlement procedures.

Defines unfair claims settlement practices including misrepresenting policies, failing to investigate claims reasonably, delaying payments, settling claims without liability investigation, and requiring specific contractors for repairs.

Allows first-party claimants unreasonably denied coverage to sue for actual damages, costs, reasonable attorney's fees, and litigation costs, with courts authorized to increase damages up to three times actual damages.

Requires claimants to provide written notice to the insurer and Insurance Commissioner 20 days before filing suit, with insurers having 20 days to resolve the matter.

Prohibits persons engaged in the insurance business from engaging in unfair claims settlement practices and authorizes the Insurance Commissioner to define additional unfair or deceptive acts through regulation.