AR HB2061

Creates the Arkansas Fire Rating Bureau as a legal entity that may organize as a corporation, association, or limited partnership to modernize fire insurance rating in Arkansas.

Bureau membership is voluntary for insurers beginning January 1, 2018, with members paying user fees and annual assessments to cover organization, maintenance, and operation expenses; state, county, and municipal governments shall not pay bureau expenses.

Bureau must employ skilled residents in fire insurance rating, fire hazard assessment, fire protection engineering, and fire insurance inspection, and shall inspect every specially rated risk and provide written surveys filed as permanent records.

Bureau is prohibited from discriminating in rate recommendations between territorial classifications with similar hazards and protections, and must consider mileage, condition, and maintenance of fire trucks rather than age when rating municipalities and fire districts.

Insurance Commissioner may examine the bureau, review rates and information provided, and has authority to suspend or revoke licenses of members delinquent on fees; Commissioner shall promulgate rules to implement the subchapter.