AR HB1419

Amends Arkansas Code § 23-67-313 governing the competitive selection process for the administrator and servicing carriers of the Arkansas Workers' Compensation Insurance Plan

Requires competitive selection of the plan administrator and servicing carriers no less often than every three years, with selection criteria including cost, finances, operating capabilities, and service record

Allows the Insurance Commissioner to suspend formal bidding if certain conditions are met, including satisfactory administrator performance, adequate coverage for Arkansas employers, and maintenance of an in-state office with proper staffing

Removes the existing requirement for the Commissioner to submit annual reports by September 1 to the Legislative Council and legislative insurance committees regarding plan operations and compliance

Eliminates provisions encouraging the Commissioner to hold public hearings to assist with legislative reporting on plan objectives