AR HB1243

Amends Arkansas Code § 23-66-206 to modify the definition of "policy cancellations" and add a new definition for "unfair property or casualty policy cancellation"

Requires insurers to provide at least 20 days' notice before canceling property and casualty policies that have been in force for more than 60 days or after a renewal date, except for nonpayment of premium which requires only 10 days' notice

Establishes that policy cancellations are only permitted for specific reasons including nonpayment of premium, fraud, material misrepresentation, material change in risk, violation of safety regulations, nonpayment of membership dues, or material violation of policy provisions

Exempts workers' compensation, employers' liability, and personal automobile liability/physical damage/collision coverage from the notice and cancellation requirements

Effective date: July 1, 2022