AR SB769

Repeals the requirement for property and casualty insurers to submit annual direct writing reports to the Insurance Commissioner, eliminating Arkansas Code Title 23, Chapter 63, Subchapter 12.

Amends the Valued Policy Law to clarify that when a total loss is covered by two or more property insurance policies, the insured recovers the lesser of the policy face amount or their interest in the property, with each insurer paying a proportionate share.

Provides exceptions to the Valued Policy Law for losses caused by criminal acts of the insured and for builder's risk policies, completed value policies, and blanket insurance policies covering multiple buildings.

Repeals the Fire Loss Reporting Act requirements for insurers to file annual county-by-county fire loss statements with the Insurance Commissioner.

Clarifies that applicants must reject residential earthquake coverage in writing on the application or addendum, and insurers must maintain documentation of such rejections.