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AR HB1811
Bill
Status
3/17/2025
Primary Sponsor
Trey Steimel
Click for details
AI Summary
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Policyholders must pay any deductible applicable to first-party claims under property insurance policies, and failure to pay constitutes a fraudulent insurance act
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Contractors or other persons who waive deductibles, provide rebates in lieu of deductibles, or otherwise do not require deductible payment are committing insurance fraud
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Insurers may withhold recoverable depreciation or replacement cost holdback payments until receiving reasonable proof that the policyholder paid their deductible
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Acceptable proof of deductible payment includes canceled checks, money order receipts, credit card statements, executed installment plan contracts, or other financing arrangements requiring full payment over time
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Violations are subject to enforcement under Arkansas's Trade Practices Act (§ 23-66-201 et seq.)
Legislative Description
To Amend Property And Casualty Law; And To Require Reasonable Proof Of Payment Of A Deductible To Recoup Recoverable Depreciation Under Property And Casualty Law.
Last Action
Recommended for study in the Interim by the Committee on INSURANCE & COMMERCE- HOUSE
4/14/2025